Answer / kishore

WHT Type contains the base for calculating wht i.e gross,net
etc and at the same time whether the wht tax is accumulated
or not and certificate numbering, rounding off rules etc for
both invoice and payment posting and come to WHT code
contains the percentage to calculate the tax

WHT Type we mention the base and WHT code we maintain the %
to calculate the tax we link these two to calculate the tax.

Answer / nirav

Withholding Tax type is Tax type which you want to apply on
Invoices.or on the net amount.i.e TDS on Contractor,TDS on
Rent, Proff Fess.

where withhoding tax code meanse from which rate you want
to deduct TDS. say suppose if you select 194C(TDS on
contractor) there is two code Gross up 2% or on net amount
2%

Answer / pathurivenki

Hello,

Withholding tax:-

The withholding tax for an invoice or a down payment is
calculated at header level. That is, only one withholding
tax code can be used for a down payment or invoice. This
implies that an invoice cannot contain items with different
withholding tax rates. It can, however, contain one or more
items with the same withholding tax rate and one or more
items with no withholding tax. This can be handled by
specifying the base amount on which withholding tax is to
be calculated. On account of calculation at header level,
companies have to instruct their suppliers not to include
items with different withholding tax rates in a single
invoice, but issue separate invoices for different tax
rates.


With extended withholding tax, you can process withholding
tax from both the vendor and customer view.

In Accounts Payable, the vendor is the person subject to
tax, and the company code is obligated to deduct
withholding tax and pay this over to the tax authorities on
the vendor’s behalf. In Accounts Receivable, the company
code itself is subject to tax, and the customers that do
business with this company code deduct withholding tax and
pay this over to the tax authorities on the company code’s
behalf. In both cases, the business partner of the
person/entity subject to tax deducts the tax and pays it
over to the tax authorities.

Regards,
Venkat
pathurivenki@gmail.com

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