Interested to Buy Any Domain ? << Click Here >> for more details...
U have made a Transaction Worth Rs.1,00,000..Then We made a
down Payment worth Rs.50,000..Then the FY came to an end.
When we are calculating TAX for the FY,on which amount we
will calculate TAX,do we calculate TAX for this
transaction ? .Then NEXT YEAR do we again calculate for
Rs.1,00,000.or the remaining Rs.50,000.
- 9 Answers
- 13325 Views
- IBM, I also Faced
- E-Mail Answers
Answer Posted / vicky pruthi
the tax will be calculated on the invoice that is
completely post in the system.the transaction of 100000 is
completely seetle in last financial year so tax is
calculated on it.but down payment is the liability of the
company that is received from coustomer and tax will not be
calculate on the liabilty but when this invoice is settle
than tha tax will be calculate and if this down payment
settle inthe next financil year than the tax will calculate
in the next year posting invoice.
| Is This Answer Correct ? | 3 Yes | 2 No |
Post New Answer View All Answers
What is a bank director in sap? : fi- accounts receivable
How are scrap variances calculated?
How many depreciation areas can be defined for a company code ? : fi- asset accounting
What is the use of value field in the co-pa module? : cost center accounting
How are vendor invoice payments made?
Name the submodules within fi, from which fi-gl gets simultaneous : fi- general ledger
Explain the input variance? : co- cost center accounting
Explain financial closing? : fi- general ledger accounting
In sap fico what are the terms of payment and where are they stored?
please can somebody help me to configure TAXINN, what are steps involved..
Which is the payment term which actually gets defaulted in transaction (accounting view or purchasing view)?
What do you mean fixed characteristic fields? : co-pa
explain automatic payment program? : fi- accounts payable
What is the use of fi-asset accounting component?
How are tolerances for invoice verification defined?
