IN TDS Period threshold calculation
Hi. I have a requirement for India TDS where there is a period (annual) threshold on the total line amount.
Tax Rate:
However, instead of applying 20% when the threshhold is reached, it applied 18.182% when the cumulative taxable amount reached 11%. And then applied 20% on the succeeding invoices.
Invoice Number | Invoice Date | Creation Date | Supplier or Party | Currency | Invoice Amount | Cumulative Taxable Amount | GST Rate | GST total amount | WHT Tax Calculated upon validation? | WHT Tax rate applied | Withholding Tax Amount |
---|---|---|---|---|---|---|---|---|---|---|---|
INVOICE1 | 11/13/24 | 11/13/24 2:21 PM | INDIA LEGAL ENTITY | INR | 5,000.00 | 5,000.00 | 18%IGST-18%Offset | 0.00 | No | 0% | 0 |
INVOICE2 | 11/13/24 | 11/13/24 2:26 PM | INDIA LEGAL ENTITY | INR | 4,000.00 | 9,000.00 | 18%IGST-18%Offset | 0.00 | No | 0% | 0 |
INVOICE3 | 11/13/24 | 11/13/24 2:28 PM | INDIA LEGAL ENTITY |
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