Financials for India - EBS (MOSC)

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Wrong calculation of TDS for Party having exception setup after application of Reverse Charge patch

edited Oct 10, 2013 11:06PM in Financials for India - EBS (MOSC) 23 commentsAnswered
We have recently applied reverse charge patch on test instance and have come across various issues. One of the major issue is wrong calculation of TDS after threshols is crossed for exception setup. E.g for a case where Vendor has issued a lower TAX deduction certificate  under section 197(1) of I/T Act 1961 relating to deduction of tax at source. The cerficate says TDS is payable at 2% upto Rs. 10,00,000/- for specified services and after that at the normal rates

We have defined the threshold as follows

Threshold Type - Cumulative

Amount slabs

From Amount                To Amount             Rate               Operating Unit Name              Tax Name

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