Tds

vishal15tirupati

Dear Sir

We receive the Bill Amount from Customer after deducting TDS.
For Ex.
Bill Amount Rs.100000
Less: TDS Rs. 10000
Net Amt. Received Rs. 90,000

Now the Entry will be-
Debit Bank A/c from Rs. 90,000
Debit TDS Receivable A/c Rs.10000
credit Customer A/c RS. 100000

Now we want the calculation of TDS automatically. Please suggest me.
Thanks
Vishal Gupta
Mob. No. 09453483429

garak

Whats TDS :?:

Please only one post http://www.mibuso.com/forum/viewtopic.php?t=24585

ssingla

Look for "13700_Tax Collection at Source_Feature Instructions Guide.pdf" released in HF1 SP3.

TDS : Tax Deducted at Source i.e. the government of India, in order to increase tax compliance, has introduced TDS to be deducted by the payer from the payment for contractual and other expenses and deposit the same with the government. The receiver can setoff the TDS deducted from his income tax return as tax paid.