Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
posted
Let me share some information about TDS (Tax Deducted at Source) rates in QuickBooks Online (QBO), dgembali-randomt.
QBO calculates TDS based on the threshold defined under various provisions of the Indian Income Tax Act. Here's an article you can refer to for more insights on how to set up TDS. Following is the list of TDS Provisions (sections), which are available in QuickBooks Online for TDS calculation.
The TDS chart shows the TDS rates applicable to Resident assessees from Previous year April 1, 2013 with relevant Assessment Year 2014-15. It is noted that the TDS Chart contains extracts of provisions from accounting perspective and does not in any way be treated or interpreted as a statement of law.
Also, the TDS will be calculated for the supplier according to the threshold prescribed under the selected section during entry of a Bill or Expense. If you want to override the threshold and enter the TDS amount manually, just select the checkbox for Override Calculation Threshold option.
To request for updating the TDS rate, it would be best to contact our Customer Support Team. That way, they will be able to assist you with the setup. Just follow steps below:
- Click on Help and choose Contact Us.
- Copy and paste your questions in the text box and click Let's talk.
- Choose Start a chat.
Feel free to browse this link here if you need help with other tasks in managing your taxes. It'll route you to our general tax topics with articles.
Drop a comment below if you have follow-up questions or concerns about recording taxes. I'm more than happy to assist you. Take care and have a wonderful day ahead.