Requirment WHT Tax calculate in range but total annual tax amount divided into 12 installment
Requirment WithHolding Tax deduct in range but total annual tax amount divided into 12 installment
Problem Description
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There is business requirement that if any rented supplier is paid 50,000 monthly then total yearly taxable amount will 600,000
Rent Slab is range is
0-300,000 is exempt rate 0%
300,000 to 6,0000 rate 5%
Annual Total tax will be
300,000 ---------> 0
300,000 ----------> 300,000*5/100 = 15000
On every month tax must be deducted
15,0000 /12 = 1250
It means on each month 1250 will be charge to the supplier . How it will be covered in standard as rented property tax deduct in such a way
or is there any alternative .