FrontAccounting forum — Tax Deduction at Source (TDS)....

Re: Tax Deduction at Source (TDS)....

2012-11-10T17:59:53Z

Thanks Joe, makes sense!

Re: Tax Deduction at Source (TDS)....

2012-11-08T09:19:37Z

You should contact a local accountant for advise on this.

I would first make a customer payment on 50000.
After that I would make a JV/Bank payment and credit the bank account with 3000 and debit the account for the taxes from the original invoice.

Maybe your accountant has another approach.

Joe

Re: Tax Deduction at Source (TDS)....

2012-11-08T08:42:30Z

Hi all,

I created an invoice for a customer for Rs. 50,000.

The customer following tax laws here in Pakistan deducted 6% as advance income tax and paid Rs. 47,000.

Now I can take payment of 47,000 and pass a JV deducting Accounts Receivable by 3000, but the problem is that the balance is still there in the customers statement.

how can I remove that customers balance?

Regards,
Fahad

Re: Tax Deduction at Source (TDS)....

2010-11-28T14:13:36Z

FrontAccounting have not special support for personal taxes, so you will have to entry the taxes manually when you are posting salaries via Journal Entry. If you are not sure how to do it, you should consult your local accountant - we have no knowledge about Indian Income Tax Act rules.

Janusz

Tax Deduction at Source (TDS)....

2010-11-28T06:09:06Z

Dear Sir,

How we can configure TDS ?? & How it is calculated in FA???

Waiting for your reply.

// Sumit Singh