Setting Up Tax Information about Vendor Records
To calculate TDS on vendor bills, you must first set up tax information about vendor records. You can use the Administrator role to complete the following procedure.
To set up tax information about a vendor record:
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Go to Lists > Relationships > Vendor.
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Click Edit beside the vendor record you want to edit.
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Click the Financials subtab.
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Under the Tax Information section, in the PAN Availability field,select the vendor’s Permanent Account Number (PAN) status from the following options:
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Applied – Select this option if the vendor has already applied for PAN but the valid number is not yet available.
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Invalid – Select this option if the vendor’s PAN is not in the correct format.
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Not Available – Select this option if the vendor does not have PAN.
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Available – Select this option if the vendor has PAN.
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In the Permanent Account Number (PAN) field, enter vendor's PAN if PAN is available.
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In the Reference Number field, enter reference number if PAN status is Applied, Invalid, or Not Available.
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In the Tax Identification Number (TIN) field, enter a TIN.
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Check the Non-Resident Indian box if the vendor is not an Indian resident.
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Click Save.
After setting up tax information about vendor records, create mappings for TDS tax types. For more information, see Creating Tax Deduction at Source Tax Type Mapping