Option To Generate TDS Invoice Amount to the Nearest 2 Decimal Value
(Doc ID 1991089.1)
Last updated on JANUARY 13, 2021
Applies to:
Oracle Financials for India - Version 12.1.3 and laterInformation in this document applies to any platform.
Symptoms
On : 12.1.3 version, India AP Localizations
ACTUAL BEHAVIOR
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IL - TDS amount should not be rounded, must be exact 2 decimal value
At present, we have following rounded off available in system
Sample:
Case 1-Rs.70.01 will be rounded off as nearest rupees Rs.70. ( Earlier rupee)
Case 2-Rs.70.51 will be rounded off as nearest rupees Rs.71. ( Next rupee)
Now in future, we dont want this rounding, the TDS amount should not be rounded and must be exact 2 decimal value.
EXPECTED BEHAVIOR
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There should be a provision in the system to generate the TDS invoices rounding off to nearest 2 decimals.
STEPS
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The issue can be reproduced at will with the following steps:
1. (N)->India Local Payables
2. Go to 'Inclusive tax accounting setup (TDS year info) '
3. Observe that there is no provision in the system to configure the TDS invoice generation feature to nearest 2 decimal value.
BUSINESS IMPACT
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The issue has the following business impact:
1. Inaccurate TDS deduction leading to penalties with statute.
Cause
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In this Document
Symptoms |
Cause |
Solution |
References |