What is meant by with-holding tax invoice?

Question Posted / nagesh

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What is meant by with-holding tax invoice?..

A separate tax invoice generated for withholding tax
amount. Later this invoice will be knocked of when making
the payment made to the authority.

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What is meant by with-holding tax invoice?..

Answer / nikunj

how should make a journal entry of tax invoice

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What is meant by with-holding tax invoice?..

Answer / vikki

Withholding tax is like TDs it collects from the vendor.it will pay to government.
Ex: invoice net amount 90 + vat 8 + withholding tax 2 =100
Tds- within the country
Withholding tax- selling goods to outside the country

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What is meant by with-holding tax invoice?..

Answer / ravindra reddy

WITH HOLDING TAX IS SIMLLAR TO TDS, ( TAX DEDUCTION AT
SOURCE ) , IN ORACLE WHEN WE ARE CREATING A STANDARD
INVOICE WITH TAX, SYSTEM WILL CREATE CREDIT MEMO & STANDARD
INVOICE AGAINST TO THE SUPPLIER/EMPLOYEE AUTOMATICALLY.

BOTH CREDIT MEMO & STANDARD INVOICE WHICH SYSTEM CREATS IS
CALL WITH HOLDING TAX( TAX ATHURORITY )

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