TDS/TCS (Withholding tax) setup in D365 F&O
TDS setup as an essential part of setting any finance-related software in India. In this blog we shall to set the same in Dynamics 365 F&O. This guide is written by a Dynamics expert at DEV IT and shall guide you through everything that needful.
Firstly, to use TDS/TCS feature we have to enable it from general ledger parameters.
General ledger parameters>> Direct taxes>> TAX DEDUCTED AT SOURCE/TAX COLLECTED AT SOURCE >> Activate TDS/TCS
– Create TAN and map to manage tax information
– Create Withholding authority: Tax >> Indirect Tax >> Withholding tax >> Withholding tax authority
– Create Withholding settlement period: Tax >> Indirect Tax >> Withholding tax >> Withholding settlement period
– Create Withholding tax component group: Tax >> Setup >> Withholding Tax >> Withholding Tax component group
– Create Withholding tax components: Tax >> Setup >> Withholding Tax >> Withholding Tax components
– Create Withholding tax code: Tax >> Indirect Tax >> Withholding tax >> Withholding tax code
– Create Withholding tax code Rate: Tax >> Indirect Tax >> Withholding tax >> Withholding tax code>> Values
– Create Withholding tax group: Tax >> Indirect Tax >> Withholding tax >> Withholding tax group
– Create Designer: Tax >> Indirect Tax >> Withholding tax >> Withholding tax group>> Designer
– Enable TDS/TCS calculation in Vendor/Customer: All vendor/Customer >> Invoice tab
We hope you have now learned to set up TDS/TCS in Dynamics 365 F&O. In case you have any queries, feel free to get in touch with an expert at DEV IT here.
Darshan Patel
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