Is there a way to auto deduct TDS or any other kind of tax at the time of payment or while creating JV ?
No, you have to calculate manually. The feature was there in 2/3 years ago, but we have deprecated it later.
@nabinhait thanks for the reply.
Just wanted to know why it was removed . It is a nice feature to have in accounting .
Firstly it is only related to India. There was very complicated rules for deduction of TDS, moreover Govt were changing the rules every now and then. It was getting very difficult to remain updated about all the changes.
This is a good feature in the Philippines. Hope you could revert it back.
Can we build something like Tax Rules for Deductions in Payment Entry?
Deductions templates and Rules both will be user defined as it’s in case of Sales & Purchase Tax.
Wow! No wonder it was removed. But it serves us greatly, amazingly in Nigeria because we have a fixed percentage - 5% or 10% at the time of payment.
@nabinhait Kindly restore the feature and make it an option so that people who do not want can disable it.Needed in my country
It is required in Pakistan also.
@nabinhait Now that we have regional requirements, I believe we should look at TDS.
There was very complicated rules for deduction of TDS
Doesn’t it make it a perfect use case to use automation in calculations?
Govt were changing the rules every now and then
This is a difficult part. We should be able to change the system quickly to meet the requirements which means maybe able to define formulae which can be changed.