Setting Up Section Codes for Tax Deduction at Source
The section code determines the Tax Deduction at Source (TDS) tax rate rule to apply to a vendor bill. The India Localization Tax Engine SuiteApp includes the standard section codes for TDS.
You can also create, edit, inactivate, and delete section codes. You can complete the following procedure using the Administrator or India Tax Manager role.
Creating Section Codes
You can create new section codes using the Administrator or India Tax Manager role only.
To create a section code:
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Go to Customization > Lists, Records, & Fields > Record Types.
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Click the New Record link for India Tax Section Code for TDS.
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Enter a unique name for this record.
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In the Challan Code field, enter the code for challan payment.
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Click Save.
Editing Section Codes
You can edit section codes using the Administrator or India Tax Manager role only. To edit a section code, you must manually update any change in name or code.
To edit an existing section code:
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Go to Customization > Lists, Records, & Fields > Record Types.
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Click the List link for India Tax Section Code for TDS.
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Click Edit beside the section code you want to edit.
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Make the necessary changes.
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Click Save.
Inactivating Section Codes
You can inactivate section codes using the Administrator or India Tax Manager role only. The inactivated section codes do not appear in the India Tax Section Code for TDS page. In addition, you cannot select the inactivated section codes on transactions, reports, and records.
To inactivate a section code:
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Go to Customization > Lists, Records, & Fields > Record Types.
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Click the List link for India Tax Section Code for TDS.
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On the India Tax Section Code for TDS List page, check the Show Inactives box.
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Check the box next to the section code that you want to inactivate.
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Click Submit.
Deleting Section Codes
You can delete section codes using the Administrator or India Tax Manager role only. The deleted section codes do not appear in the India Tax Section Code for TDS page. In addition, you cannot select the deleted section codes on transactions, reports, and records.
To delete a section code:
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Go to Customization > Lists, Records, & Fields > Record Types.
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Click the List link for India Tax Section Code for TDS.
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Click Edit beside the section code you want to delete.
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From the Actions menu, select Delete.
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Click OK to confirm deletion of the section code record.
After setting up section codes for TDS, create TDS tax rate rules. For more information, see Creating Tax Deduction at Source Tax Type Mapping