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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?

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