(IND) Settle withholding tax payments and enter withholding tax challan information

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2

Periodically, you must settle withholding tax payments with tax authorities. Complete the following procedures to settle withholding tax payments for the Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) tax types and enter withholding tax challan information.

Settle withholding tax payments

Complete the following procedures to settle withholding tax payments for a specific withholding tax settlement period.

Make withholding tax payments available to settle

  1. Click General ledger > Periodic > India withholding tax > Withholding tax payment.

  2. Select the withholding tax type to settle payments for.

  3. Select the Tax Account Number (TAN) and withholding tax period to settle payments for.

  4. Enter the starting date of the settlement period.

  5. In the Transaction date field, enter the posting date of the withholding tax settlement payment.

  6. In the Withholding tax payment version field, select one of the following options:

    • Original – Settle withholding tax payments for the first time for the selected settlement period.

    • Latest corrections – Settle withholding tax payments that were included on journal lines and that were posted in the settlement period since you last settled withholding tax payments for the selected period.

  7. Select the Update check box to make the withholding tax payments available in the Settle open transactions form, where you can select the transactions for settlement.

Settle available withholding tax payments

  1. Click General ledger > Journals > General journal.

  2. In the General journal form, create a new journal or select an existing journal.

  3. Click Lines to open the Journal voucher form, where you can create journal lines.

  4. Click New to create a new journal line.

  5. In the Account field, select the TDS or TCS authority vendor to settle withholding tax payments with.

  6. Click Functions > Settlement to open the Settle open transactions form, where you can view the TDS or TCS transactions that are available to settle for the tax authority vendor that you selected in step 5.

  7. To select a transaction and all lines in the transaction for settlement to the TDS or TCS authority vendor, select the Mark check box.

    To select only some of the lines for a transaction for settlement follow these steps:

    1. Select a transaction.

    2. Click Withholding tax transactions.

    3. Select the Mark check box for only the lines to be settled.

    4. Close the Withholding tax transactions form.

    备注

    After you select the transactions or lines to settle, the total amount to be settled to the tax authority vendor for the settlement period is displayed in the Amount to settle field in the Settle open transactions form.

  8. Close the Settle open transactions form.

  9. In the Journal voucher form, select the line that you created in step 4.

  10. On the Payment fee tab, select the Fee ID and Currency to use when delayed payments are made to the tax authority vendor and select the account that the fee must be deducted from.

  11. On the Tax information tab, verify that the company information and withholding tax information is correct for the settlement.

  12. Click Post > Post to post the journal line.

Enter withholding tax challan information

Before you can generate quarterly statements for TDS and TCS, you must enter challan information for transactions that are posted for settlement with a tax authority. For more information, see (IND) Generate 26Q or 27Q quarterly statements for TDS or (IND) Generate 27EQ quarterly statement for TCS.

  1. Click General ledger > Journals > General journal.

  2. Select the journal that you used to settle and post withholding tax transactions.

  3. Click Lines.

  4. Click Withholding tax > Challan information in the Journal voucher form to enter the challan details for the transaction. The voucher number of the transaction is displayed in the Voucher field.

  5. If the withholding tax amount is not deposited by book entry, go to step 7.

  6. If the withholding tax amount is deposited by book entry, complete the followings steps and then go to step 10:

    1. Select the Deposited by book entry check box.

    2. Enter the Transfer voucher number.

    3. Enter the payment date and additional text to include on the challan.

  7. Enter the challan number that is used to make the payment to the TDS or TCS authority vendor and then enter the payment date.

  8. Select the bank name to deposit the TDS or TCS amount that is payable to the TDS or TCS authority vendor in the Bank name field.

    备注

    You can set up bank accounts for the TDS or TCS authority vendor in the Vendor bank accounts form. For more information, see 供应商银行帐户(窗体).

  9. Enter the Basic Statistical Return (BSR) code of the bank in the BSR code field.

  10. Close the form.

See also

(IND) Tax components (form)

(IND) Challan information (form)