Is Withholding tax Equal to VAT. If No what is the
difference between the two.If equal why they are given a
different name as such. Plz explain
- 3 Answers
- 32989 Views
- Nitel, SAT InfoTech, I also Faced
- E-Mail Answers
Answer Posted / ramulu
No! withholding Tax is tax collected from vendor for
renedering of service to the organization if exceds
Rs.20,000 in the year the he is eligable for deducting the
TAX and deposited in the bank with vendor pan number and we
should issue a form 16 A at the year end
where as, VAT is VALUE ADDED TAX is liable when we purchase
of goods and sales the difference tax is to deposit to VAT
office with monthly return in form 100 and yearly in form 240.
| Is This Answer Correct ? | 19 Yes | 6 No |
Post New Answer View All Answers
How do you keep the fi posting period open only for certain gl codes?
What is a bank director in sap? : fi- accounts receivable
How data flows through mm into fi? : co-pa
What is tresurry bills ? how it works?
What is known as a repeat run in the depreciation process? : fi- asset accounting
Hi all.... Please explain to me... what G/L account should I maintain / create If I want to do the intercompany transfer asset - no revenue. and if I want to do the intercompany transfer asset - Net Book Value. What is the different between this 2 method. My company's requirement is ... 1. Transfering the asset on company A to company B, example Asset 1 - acquisition date : 01.06.2007 , acquisition amount : 1000, accumulated depreciation till 31.12.2007 : 10 so the net book value is 90, useful life 4 years the company wants to transfer this asset in company B. is it possible to transfer all the data just like I explain above : acquisition date : 01.06.2007 , acquisition amount : 1000, accumulated dep = 10
What is Evaluate option in APP?
Assign different no. range for different business area of same co. code.
How data flows from sd to copa? : co-pa
Difference between depreciation ,accumulated depreciation and apc?
What is a plan version? : co- cost center accounting
What are fiscal year variants and how are fiscal periods opened and closed?
What is the use of fi-asset accounting component?
What is a 'year shift' in sap calendar?
Why it is necessary to block an asset master record? : fi- asset accounting
