Interested to Buy Any Domain ? << Click Here >> for more details...
what is withholding tax
- 5 Answers
- 14217 Views
- Meru Cabs, TSMT, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / kiran kandre
The tax which is deducted at source and directly paid to
Income tax authority. In this case Income tax authotiry is
set up as supplier.
In some countries, if it is not required to pay to IT
authority then tax amount will be hold back by source
organisation
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / tshai
Withholding taxes are the tax amount deducted from employees
paycheck. This are subject to be payable to the government
by the employer
| Is This Answer Correct ? | 4 Yes | 1 No |
The amount which is deducted from the supplier invoice and withheld with the company for the purpose of paying that amount to the tax authority on behalf of the supplier is called withholding tax.
SETUP
1. Create a Special Calendar for withholding tax
2. Create a supplier of Type Tax Authority
3. Create Tax Code
Give the Tax Code name and Select the type as withholding Tax.
Give the GL Account for withholding tax.
Provide the withholding tax details:
Select the Tax Authority, site and the withholding special calendar
Rate Structure like
flat rate /amount ranges / period limit
Select the Tax type : Standard / Penalty
And give the rate.
4. Create a withholding tax group
Now allow the withholding tax for the suppliers to whom you want to withhold the amount for tax. This is achieved by enabling the allow withholding while supplier creation step.
So, whenever you create an invoice the withholding tax will be applicable for that supplier.
| Is This Answer Correct ? | 1 Yes | 0 No |
Whatever we deducting the TDS on income
| Is This Answer Correct ? | 0 Yes | 0 No |
I hv done revaluation corectly even got the result also but why report showing in warning mode in view window after refreshing ?
What is the order in setting up GL ? Which comes first - COA, Calendar & Currency ?
What is the Reconciliation Open Interface used for in Cash Management?
whats is the differce between 11i & 10.5.9
What is the meaning of Deprecation
Is it same primary ledger data and seconday ledger data should be same or differnt?explain
what is asset creation accounting entry?
In Subinventories Form, how to enable the Locator Control. A message displayed when changing the drop down list "FRM-40200: Field is protected against update.
How can we Define Corporate law sob and Income Tax law Sob?
Can you cancel the invoice? If yes, explain?
What is the use of gl set of books name, while configure multiorg?
Client want to create capital goods assets in PO,Witout using Inventory and he wants to transfer to FA module.what is the steps and how to do.pls explain.
Oracle Apps Technical 
