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This article explains how to record the Tax Deducted at Source (TDS) concession certificate numbers that are issued to vendors.
Go to Tax > Indirect taxes > Withholding tax > Withholding tax concessions.
In the Tax type field, select TDS to record concession certificates for the TDS tax type.
On the Overview tab, select Alt+N to create a line.
[
]In the Withholding tax code field, select the TDS tax code that the vendor concession certificates are issued for. The Withholding tax code name field shows the name of the TDS tax code.
In the From date and To date fields, define the period of validity for the concession certificate that uses the TDS tax code to calculate TDS for the vendor on a concessional basis.
In the Remarks field, enter any remarks.
In the Section field, enter the legal section code that the TDS concession certificate is availed under.
If the section code is 197, the value "A" appears in both the "Reason for non-deduction/lower deduction" column in Form 26Q and the "Reason for non-deduction/lower deduction/grossing up (if any)" column in Form 27Q. If the section code is 197A, the value "B" appears in both those places.
Select the Certificate FastTab to record TDS concession certificate numbers for vendors.
In the Vendor account field, select the vendor account that the TDS concession certificate is issued for.
In the From date and To date fields, define the period of validity for the TDS concession certificate.
The calculation of TDS on a concessional basis is based on the period when the certificate is created for the vendor.
In the Certificate field, enter the TDS concession certificate number.
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