R12.2.4 Lower TDS Deduction Problem
Business Scenario: An existing customer already has invoices with TDS deducted for existing invoices amounting to Rs. 1,00,000 till SEP-16 @10% rate. Now in middle of the year he obtains lower TDS deduction certificate and going forward for cumulative amount of Rs. 5,00,000 Lower TDS Deduction is applicable.
Configuration:
1. Exception Threshold Defined for 1%
Threshold Type: CumulativeAmount Slabs: From 1,00,001 to 6,00,000 (Total Rs.5,00,000-1 line only)
OU and Vendor Assigned to the Exception Threshold
Now accountant enters a new invoice of Rs. 50,000 and assigns 1% Lower TDS Tax Category on the invoice and Validates the invoice. But TDS is not deducted for this invoice.
Please let me know
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