7.3.17 Refunding Tax for Interest and Fees

In the product tax linkage of Tranche and Facility maintenance, you can add tax components for various Fee components. And the contract level, you can either withheld or waive of the tax for these components. You can maintain tax rate for a combination of individual tax component and a investor or for the combination of individual tax component which is common for all investors.

Oracle Banking Corporate Lending enables you to refund tax for a specific investor for all contracts or specific contract using Investor Tax Refund screen.

Specify the User ID and Password, and login to Homepage.

1. On the homepage, type LBDTXRFC and click next arrow.
   The Investor Tax Refund screen is displayed.

   Figure 7-18 Investor Tax Refund

   
   

   
   Description of "Figure 7-18 Investor Tax Refund"

   
   
2. You can enter below details in this screen. For information on fields, refer to the field description table.

   Table 7-5 Investor Tax Refund Details

   Fields	Description
   Customer No	Select the customer for whom you want to refund the tax from the investor list provided. The name of the customer gets displayed in the adjacent field. The investor refund generates a unique refund number for the investor. Note: Tax refund can be processed only for those contracts for which the Tax Remittance is yet to be processed.
   Refund Percentage	Specify the percentage of tax refund for the withheld Tax Amount. This percentage gets applied on the tax amount eligible for refund and displays the refundable amount from all the contracts of the investor.
   Apply Refund	Select this check box to specify tax refund for the displayed contract of the investor. Note: You cannot amend the refund amount, component and the tax schedules.

   This topic contains the following sub-topics:

• Reversal of Investor Tax Refund