{"id":22800,"date":"2021-07-30T07:50:26","date_gmt":"2021-07-30T07:50:26","guid":{"rendered":"http:\/\/www.greytrix.com\/blogs\/sagex3\/?p=22800"},"modified":"2021-07-30T07:54:24","modified_gmt":"2021-07-30T07:54:24","slug":"tds-on-purchase-of-goods-section-194q","status":"publish","type":"post","link":"https:\/\/www.greytrix.com\/blogs\/sagex3\/2021\/07\/30\/tds-on-purchase-of-goods-section-194q\/","title":{"rendered":"TDS on Purchase of Goods: Section 194Q"},"content":{"rendered":"\n

In this blog, we will see the functionality of how TDS will be applied on Purchase Invoices in Sage X3<\/a> for Section 194Q of the Income Tax Act.<\/p>\n\n\n\n

As per the requirement, the TDS rate of 0.1% is applicable to be deducted if the value or aggregate purchase value exceeds Rs. 50 Lakhs. This will also be only effective on current ongoing fiscal year of TDS module.<\/p>\n\n\n\n

For this purpose, there will be a checkbox \u201cThreshold\u201d in TDS section as shown in the below screenshot. If it is checked then only TDS on Purchase of Goods functionality will work.<\/p>\n\n\n\n

New Stuff:<\/strong> How to call action based screen through code in Sage X3<\/a><\/p>\n\n\n\n

\"[TDS<\/a><\/center>\n
[TDS Section – Threshold]<\/center><\/font>\n\n\n\n

Now, we will define a new NOD code as ‘NOD194Q’ which will have 0.1% as TDS rate and cumulative cut-off value of INR 50 Lakhs and TDS section 194Q. In the same screen, we will enter the amount for Threshold for calculation purpose.<\/p>\n\n\n\n

\"[NOD194Q]\"<\/a><\/center>\n
[NOD194Q]<\/center><\/font>\n\n\n\n

This NOD will be mapped to required Party Vendors.<\/p>\n\n\n\n

\"[Party<\/a><\/center>\n
[Party Details – SD0018]<\/center><\/font>\n\n\n\n

TDS will be deducted on different amounts unlike the default functionality which deducts TDS on Total cumulative amount.<\/p>\n\n\n\n

Let\u2019s check with an example:<\/p>\n\n\n\n

Threshold Cut-off is 50,000,00. We will create new invoice entry with the same party vendor and invoice value of 30 Lakhs.<\/p>\n\n\n\n

TDS Effect: <\/strong>No TDS will be deducted because Invoice value is 30 Lakhs which is less than threshold cut-off. Refer below screenshot.<\/p>\n\n\n\n

\"[1012107PINV00023<\/a><\/center>\n
[1012107PINV00023 – 30 Lakhs]<\/center><\/font>\n\n\n\n

We will again create an invoice with invoice value of 21 Lakhs for the same party vendor.<\/p>\n\n\n\n

TDS effect:<\/strong> TDS 0.1% will be deducted on 1 lakh. TDS Entry will be created i.e. 0.1% on 1 lakh.<\/p>\n\n\n\n

\"[1012107PINV00024<\/a><\/center>\n
[1012107PINV00024 – 21 Lakhs]<\/center><\/font>\n\n\n\n

If you have observed in the below screenshot, in the section highlighted in red, values are getting displayed as per the default TDS functionality which deducts TDS on Total amount i.e. 0.1% on 21 Lakhs. But, in the section which is highlighted in yellow, values are getting displayed as per the Threshold functionality which deducts TDS with 194Q Section.<\/p>\n\n\n\n

\"[1012107PINV00024<\/a><\/center>\n
[1012107PINV00024 – TDS Base Amount]<\/center><\/font>\n\n\n\n

This calculation of TDS deduction will be completely based only on Vendor code, NOD code and fiscal year combination.<\/p>\n\n\n\n

If other than the mentioned NOD code is used then it will work as per the default functionality i.e. if above example is to be considered then TDS will be applicable on Total Invoice values 30 Lakhs and 21 Lakhs respectively.<\/p>\n\n\n\n

In this way, TDS will be deducted for Invoices in TDS on Purchase of Goods (Threshold) functionality<\/p>\n\n\n\n

About Us<\/strong><\/h2>\n\n\n\n

Greytrix \u2013 a globally recognized and one of the oldest Sage Development Partners is a one-stop solution provider for Sage ERP and Sage CRM organizational needs. Being acknowledged and rewarded for multi-man years of experience and expertise, we bring complete end-to-end assistance for your technical consultations, product customizations, data migration, system integrations, third-party add-on development, and implementation competence.<\/p>\n\n\n\n

Greytrix has some unique integration solutions developed for Sage CRM<\/a> with Sage ERPs namely Sage X3<\/a>, Sage Intacct<\/a>, Sage 100<\/a>, Sage 500<\/a>, and Sage 300<\/a>. We also offer best-in-class Sage ERP and Sage CRM customization and development services to Business Partners, End Users, and Sage PSG worldwide. Greytrix helps in the migration of Sage CRM from Salesforce | ACT! | SalesLogix | Goldmine | Sugar CRM | Maximizer. Our Sage CRM Product Suite includes addons like  Greytrix Business Manager, Sage CRM Project Manager, Sage CRM Resource Planner, Sage CRM Contract Manager, Sage CRM Event Manager, Sage CRM Budget Planner, Gmail Integration, Sage CRM Mobile Service Signature, Sage CRM CTI Framework.<\/p>\n\n\n\n

Greytrix is a recognized Sage Champion Partner for GUMU™ Sage X3 \u2013 Sage CRM integration listed on Sage Marketplace<\/a> and Sage CRM \u2013 Sage Intacct integration listed on Sage Intacct Marketplace<\/a>. The GUMU™ Cloud framework<\/a> by Greytrix forms the backbone of cloud integrations that are managed in real-time for the processing and execution of application programs at the click of a button.<\/p>\n\n\n\n

For more information on our integration solutions, please contact us at sage@greytrix.com<\/a>. We will be glad to assist you.<\/p>\n","protected":false},"excerpt":{"rendered":"

In this blog, we will see the functionality of how TDS will be applied on Purchase Invoices in Sage X3 for Section 194Q of the Income Tax Act. As per the requirement, the TDS rate of 0.1% is applicable to be deducted if the value or aggregate purchase value exceeds Rs. 50 Lakhs. This will\u2026 Read More »<\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,8],"tags":[3345,3346,3344,1564,2245,2265],"class_list":["post-22800","post","type-post","status-publish","format-standard","hentry","category-integration","category-sage-erp-x3","tag-194q","tag-auto-match","tag-nod","tag-purchase-invoice","tag-tds","tag-threshold"],"_links":{"self":[{"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/posts\/22800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/comments?post=22800"}],"version-history":[{"count":16,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/posts\/22800\/revisions"}],"predecessor-version":[{"id":22821,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/posts\/22800\/revisions\/22821"}],"wp:attachment":[{"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/media?parent=22800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/categories?post=22800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.greytrix.com\/blogs\/sagex3\/wp-json\/wp\/v2\/tags?post=22800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}