Answer / moses

WHT is withholding tax in oracle terms.
WHT is used to deduct and withhold a part of the amount
from the supplier's invoice on behalf of particular tax
authority for the purpose of remitting to them (tax
authority) later.

Answer / swathi

WHT is withholding tax in oracle terms.
You hold the tax part while you enter your invoice and pay
it to the tax authority. U r tax authority should be
defined as your supplier.

This may happen when u have to pay purchase tax to the tax
authority, and wanted to withhold it.

withholding tax a/c dr
payables a/c cr

Answer / rathore

WHT (WithHoldingTax)is used to deduct @ of particular % over
foreign loan under scheme like Buyers Credit Financing. at
the time of availing loan.

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