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You are here : Finance > Finance Master > TDS Tax Rate Master TDS Tax Rate Master
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Add and maintain various Tax Rates used in calculating TDS through this Master. One or more Tax Rates can be included to make a TDS Rate Structure which is further used to calculate the withholding tax. Each Tax Code is also linked with an Account Group and Account which will be automatically posted at the time of TDS transactions.
Enter any text you want to search in the list below. The search is applicable to all columns of the list. Once the text is entered, press <ENTER> key. As a result, the list will be refreshed with all those records that contain the entered text fully or partially. In order to go back to the original list, remove the text from the box and press <ENTER> key again.
Tax Rates can be added, edited, deleted and viewed provided the Role associated with the currently logged-in user through User Management has the respective rights to do so.
To 'Add' a Tax Rate, click on the 
button and to 'Edit', click on the 
icon on its corresponding record. Click on the 
icon to 'Delete' a particular Tax Rate. To 'View' details of a particular Tax Rate, <DoubleClick> on that record. As a result, following screen will be displayed -
A TDS
Tax Rate can NOT be deleted if it has been included in a TDS Rate Structure.
(Type : Alphanumeric, Length : 5)
Specifies the TDS Tax Rate Code.
In case of 'Add', enter a unique Code for Tax Rate. This is the Code by which a TDS Tax Rate will be referred to throughout IMMS.
In case of 'Edit', and 'View', Code will be displayed automatically as per the selected record. You can NOT change it.
(Type : Alphanumeric, Length : 40)
Specifies the description of the TDS Tax Rate Code.
In case of 'Add', enter the description for the new TDS Tax Rate Code.
In case of 'Edit', and 'View' , description will be displayed automatically as per the selected TDS Tax Rate Code. You can change it in 'Edit' mode.
Specifies whether the value or percentage of TDS is considered.
In case of 'Add', select 'Value' from the popup if you want to enter value for the TDS Tax Rate or select 'Percentage' if you want to enter percentage for the TDS Tax Rate.
In case of 'Edit', and 'View' , the value of this popup will be displayed as per the selected TDS Tax Rate. You can change it in 'Edit' mode.
(Type : Numeric, Length : 5.2)
Specifies the amount of value or percentage to calculate TDS.
In case of 'Add', enter the Amount if you have selected 'Value' or enter Percentage value if you chose 'Percentage'. This value is considered while calculating the TDS.
In case of 'Edit', and 'View' , the value of this field will be displayed automatically as per the selected TDS Tax Rate. You can change it in 'Edit' mode.
Specifies the type of Tax Rate.
In case of 'Add', select the Type of Tax Rate from the given popup. IMMS allows to specify following Tax Rate Types - TDS, Surcharge, Education Cess, H.E. Cess.
In case of 'Edit', and 'View', the Type of Tax Rate will be displayed automatically as per the selected TDS Tax Rate. You can change it in 'Edit' mode.
Specifies the Account Group which should be updated with the TDS posting.
While 'Adding', click on the field to access a list of Account Groups and Sub Groups defined through Accounts Master Entry option. Select your desired Account Group or Sub Group from the list by clicking on it. Alternatively you can also enter the Account Group Code or Sub Group Code. Press <TAB>.
In case of 'Edit', and 'View' , the Account Group will be displayed automatically as per the selected TDS Tax Rate. You can change it in 'Edit' mode.
Specifies the Account which should be updated with the TDS posting.
While 'Adding', click on the field to access a list of Accounts belonging to the selected Account Group or Sub Group defined through Accounts Master Entry option. Select your desired Account from the list by clicking on it. Alternatively you can also enter the Account Code. Press <TAB>.
You can not select an Account that has been
deactivated through Account
Master Entry option. The help list will also not display
such Accounts.
In case of 'Edit', and 'View' , the Account will be displayed automatically as per the selected TDS Tax Rate. You can change it in 'Edit' mode.
Once you have entered all the information, click on 'Save' button to finally save the Tax Rate or 'Cancel' button to discard. The control will go back to the list.