Chapter 63: Oracle Fusion Tax Implementation

Creating 194I Section Withholding Tax in Withholding Tax Regime

Tax Regime Code: INDIA TDS1 (Need to select the Right Regime, we created in Last step)

Configuration Owner: ABC CORP (Need to Select the BU Name for which we want to use this Tax).

TAX CODE: INDIA_TDS_194I (TAX Name we need to enter, can enter any name but should be logical).

TAX NAME: INDIA_TDS_194I (TAX Name we need to enter, can enter any name but should be logical).

Start Date: Same Date as we entered in the Tax Regime.

Tax Information:

Geography Type: Country 

Tax Currency: INR

Tax Precision: 0 (We don’t want the Tax in Decimal).

Control and Defaults: 

Tax Point Basis : Invoice 

Tax Inclusion Method: Standard noninclusive 

Allow override and Entry of inclusive tax lines : Yes

Allow tax rounding overrise: Yes

Allow entry of Manual Tax Lines : Yes

Tax Exceptions and Exemptions:

Allow Tax Exceptions : Yes

Allow Tax Exemptions : Yes

Validation Type: ORA_IN_PAN

Validation Level: Warning

TAX Rule Defaults for Taxes:

Place of Supply : Ship to , use bill to if ship to is null.

Tax Applicability : Not Applicable.

Tax registration : Bill-from party.

Chapter 63: Oracle Fusion Tax Implementation

We need to create the 'INCOME TAX AUTHORITY' supplier first and then assign this supplier as below under the Tax Authorities

We need to enable this Flag 'Enable for Transaction' for each taxes in tax header as below.

Chapter 63: Oracle Fusion Tax Implementation