Ideas

TDS not getting auto deducted while any ledger balance exceeding the threshold limit set by Income Tax Act.

Hi Team,

In Ginesys, TDS is not getting auto deducted once ledger balance exceeded the threshold limit set as per Income Tax Act.

For e.g. -  At the time of booking expense related to any contractual payment say Advertisement expense in my case we have to deduct 1% or 2% TDS as the case may be  from the bill amount if single bill exceeds Rs 30,000/- or If total bill amount in a Financial Year exceeds Rs 1,00,000 p.a. 

in TDS Both the above highlighted criteria should be meet in every single sub -ledger in which tds sections attract in order to do the accounts in correct manner and for reporting point of view as well.

In my view, I have not found any such functionalities in Ginesys yet relating to TDS as per I.T.act.


Regards,

Avishek

  • Guest
  • Oct 25 2019
  • Unlikely to Implement
  • Nov 28, 2019

    Admin response

    This type of functionality is supported as per our architecture, so we advice to deduct TDS from Day 1 itself.

    We are marking this idea as "Unlikely to Implement". If this idea gathers enough votes, we shall consider the same in future.

    Keep sharing your ideas!

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