Thank you for supporting the Cloud Customer Connect Community in 2024. It's a gift to work with you!

Look back
You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

how can we have different tax rates for specified income accounts

in Tax Reporting (Direct Tax) 1 comment

Summary:

Hi Experts,

We want to have different tax rates for some specific income for one entity. How can we configure that in TRCS application?

For eg. Business income is taxed at 25%, Short term capital gain taxed at 15%, long term capital gain taxed at 20%.

I can see deferred tax override is there but as these all are perm in nature it won't help. I can see only One Tax rate is allowed to be entered for current tax. So what is the standard practice to achieve this?

Content (please ensure you mask any confidential information):


Version (include the version you are using, if applicable):

Tagged:

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!