Tds

anjali

hello everybody,
i have a problem inTDS. the problem is:
if we pass any journal entry and done all the TDS setup for the particular vendor we can find that the TDS is calculated for a particular line. suppose the surcharge threshold amount is 20001 and the total amount we are getting is is 25000 ,the TDS amount is calculated but suppose a case arises where we get the payment in several instalments (say, 15000, 5000 and again 5000) so when we pass each of these entries individually it does not fall under the threshold amount but on total the amount equals to 25000 and this amount falls under the threshold amount .
so if we want to chage TDS on the total amount of the transaction even though we get the total amount on several instalments, then what to do?
plz help
anjali

Murali

Hi Anjali,

Whenever u make instalment payments select all the functions of
TDS as though we are deducting TDS.
The system will not show any tax deduction but keep the amount in memory.
When the amount crosses the threshold limit system will automatically calculate tax for the full amount for example "25000".
The important thing is that even though the amount is less than the threshold limit we have to follow the TDS procedure to enable the system to keep track of the amounts.

Hope this will help u.

O:)