Entering a TDS or WCT Concessional Rate for a Supplier
Access the TDS Supplier Specific Concessional Supplier Rate Master Revisions form.
- Company
Enter a code that identifies a specific organization, fund, or other reporting entity.
The company code must already exist in the Company Constants table (F0010) and must identify a reporting entity that has a complete balance sheet. At this level, you can have intercompany transactions.
- Address Number
Enter a number that identifies an entry in the address book system, such as employee, applicant, participant, customer, supplier, tenant, or location.
- TDS Type
Enter T for TDS or W for WCT.
- Concessional Rate
Enter the TDS or WCT concessional rate set up by the company for the supplier.
- Exclude Service Tax
Specify whether to exclude service tax during TDS calculation.
0: The system does not exclude service tax during TDS calculation.
1: The system excludes service tax during TDS calculation.
- G/L Class
Enter TDS or WCT to indicate the tax type you assign to the supplier.
When you set up a rate, you specify whether it is for TDS or WCT in the G/L Offset field on the TDS Rate Revision form.
- Certificate Number for Non-Deduction/Lower Deduction
Enter the certificate number that is issued by the assessing officer under section code 197 for non deduction/lower deduction.
- Ceiling Limit/Invoice
Enter the limit for deducting basic TDS and WCT. This is the limit when you define the threshold by invoice. If you leave this field blank, the system calculates the TDS and WCT surcharge for the transaction regardless of whether the amount is above or below the limit.
- Submit Date Declaration
Enter the date of submitting the TDS or WCT certificate if there is a TDS or WCT amount. If you have not declared a TDS or WCT amount, you can submit the TDS or WCT certificate with the NIL declaration.
- Forwarding Date
Enter the date of forward declaration when there is a NIL declaration. You must enter the subsequent date of declaring the TDS amount if you declare NIL for that particular month.