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what is withholding tax? when we use withholding tax?

what are the procedure in steps for calculating tds plz
tell me about all........

Answer Posted / ramu naidu

Withholding tax means to calculate in tax on payments only.
In India withholding tax is taken for the TDS sections
194C,194J,194I and soon.

Check withholding tax countries

Define withholding tax type for invoice posting

Define withholding tax type for payment posting

Define withholding tax codes

Formulas for calculating withholding

Assign withholding tax type to company codes

Activate withholding tax

create GL account and Automatic postings

Assigning W/tax types to vendor master

Is This Answer Correct ?    118 Yes 30 No



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