We calculate TAx for Our Vendors/Customers when the
transaction is completed Right.
Then y can't we calculate Tax(If the year ends) When the
Partial payment is done i.e DownPayment/Received. Please
Reply.
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Answer Posted / rkkantheti
we can calculate tax on partial payment also but it is not
clear to understand because the amount of tax will be
seperated till the transaction completed (payment/receipt
depends on payment terms ) to avoid this confusion we
calculate tax when the transaction completed
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