Chapter 72: Oracle Fusion Tax Implementation

Creating ‘0.05%_TDS_194C’ Tax rate for 194C Withholding Tax

Tax Regime Code: INDIA TDS1

Configuration Owner: ABC CORP

Tax: INDIA_TDS_194C

Tax Status Code: STANDARD (As we created in Previous Steps)

Tax Jurisdiction: INDIA (As we created in Previous Steps)

Tax Rate Code: 0.05%_TDS_194C

Tax Rate Type: Percentage.

Rate Periods: 

Rate: 0.05

Effective Start Date: Date should be same as compared to Tax Regime.

Creating Tax Rates for Withholding Taxes under Tax Regime

Under Tax Accounts, we need to maintain the Tax Liability Account and the Business Unit & Ledger.

Creating ‘2%_TDS_194C’ Tax rate for 194C Withholding Tax

Tax Regime Code: INDIA TDS1

Configuration Owner: ABC CORP

Tax: INDIA_TDS_194C

Tax Status Code: STANDARD (As we created in Previous Steps)

Tax Jurisdiction: INDIA (As we created in Previous Steps)

Tax Rate Code: 2%_TDS_194C

Tax Rate Type: Percentage.

Rate Periods:

Rate: 2

Effective Start Date: Date should be same as compared to Tax Regime.

Third tax  2%_TDS_194C

Chapter 72: Oracle Fusion Tax Implementation