How to deduct TDS while making an Outgoing Payment

Company wants to deduct TDS while making an outgoing payments to Contractors / Jobworkers / Transporters.... can anyobody guide me
Edited by: Marc Riar on Feb 19, 2008 10:23 AM

Hi sanjay,
For deducting the with holding tax, First you have to define some withholding tax codes with the percentages of the amount.
For creating the with holding codes
go to
Administration>Setup>Financials>Tax>WithHolding Tax>
There a create tax code
Now Go to A/P Invoice. Select a vendor and change Itrem/service type to Service
Then give the details of g/l and make WTax Liable to yes. There you can set the with holding tax code that was created. Based on that you can see the Wtax amount in the footer of the form..
When you make the payment to particular vendor it automatically creates ledger entry for with holding tax also..
Regards,
Jagadeesh.V

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    Edited by: Marc Riar on Jan 31, 2008 2:18 PM
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