R 12.1.3 - India TDS Threshold Exception setup is not working as per expectation
We have define concessional TDS tax rate of 5% u/s 194(I)
Defined Cumulative Threshold exception setup for the same:
Slabs"
1 to 50000 - 5%
50001 to - 20%
We assigned the Supplier to the Exceptional Setup.
At the Supplier Additional Information, we attached the Default Tax Section as 194(I).
On the First Invoice which was within the first threshold limit (Rs 40000) the TDS was deducted correctly @5% - Rs 2000
On the second Invoice (Rs 90000) the First threshold limit is crossed. The system here generated 2 TDS invoices:
One is for amount of Rs 16500 (on 10000 @ 5% and on the balance 80000 @20%) - Which is correct as per the expectation
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