Financials for India - EBS (MOSC)

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Setup Required for TDS Should not be deducted on service tax

edited Jan 27, 2014 10:50PM in Financials for India - EBS (MOSC) 4 commentsAnswered
Hi,

As per new incometax guidelines TDS should not be deducted on service tax amount.

Ex:

Basic Invoice Value - 10000

Service Tax Value -    12.36% - 1236

Total Invoice -           11236

TDS should be deducted on Basic Invoice Value i.e. 10000 insted of 11236 as per new guide lines(Cicular No. 1/2014).

We are on 11.5.10.2 (India Localization - IN60107)

Now we need to setup in such a way that TDS should not be deducted on Service Tax amount as shown above.

Regards,

Rakesh Mishra

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