Ap : withholding requirement
There is a issue in WHT calculation as per the 194C requirement for contractor. The scenario is below for Company.
1. When there is a single payment for more than Rs.30000 TDS should be @2% for Company.
2. However, TDS should be deducted for company if there is payment more than Rs.75000 during the year @2%.
>We have created Rule-1 with thresold limit Rs.30K and Rule-2 with thresold limit of Rs.75K.
> We have tagged both the rule to the vendor with default rule 2.
Scanario-1:
1st Payment-20K- No TDS deducted
2nd Payment-40K-No TDS deducted
3rd Payment-20K-TDS deducted
Here requirement is when more that 30K payment made TDS should be deducted on Rs.60K.
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