The section code determines the Tax Deduction at Source (TDS) tax rate rule that will apply to atransaction. Go To Customization> List records> Record types Find : India Tax Section Code for TDS Click on New record link provide following values Section code — Enter a unique code and name for this record. Challan code… Continue reading How to create TDS section Codes
Tag: tds
Add TDS GL Impact on Vendor Prepayment Record
The client would like to add the TDS to the Vendor Prepayment record since the standard TDS process is not applicable for vendor prepayment records. TDS on Amount Field: Create a new field for fetching the TDS% on the vendor prepayment records. Generate a workflow to apply the TDS formula on Payment Amount using the… Continue reading Add TDS GL Impact on Vendor Prepayment Record
Calculate TDS Automatically on Vendor Bill
Requirement: Calculate the amount on the vendor bill automatically based on the TDS % on the vendor record. Solution: A new field will be created to store the India Tax Section Code on vendor records. Also will create a new transaction line checkbox field “Tax Code Update” on a bill to record whether a different… Continue reading Calculate TDS Automatically on Vendor Bill
Set up TDS tax rate rule
Setting up of tax rate rule manually.