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WORK IN PROGRESS - Please understand that we are actively rewriting much of our documentation and this page is currently "under construction"; if there's anything that you'd like to see added to and/or expanded upon, please let us know by sending us a smile.

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Introduction

In India, The Finance Act 2013 brought the concept of surcharge on Income Tax for taxpayers on the basis of categorization. The Finance Act 2016 provides for increase in surcharge levies for FY 2016-17. The surcharge rates applicable varies, depending on the various factors such as the holding of the company/individual. Please note the surcharge levied is applicable on the income tax and not the income itself. To compute income tax liability, deduction under various heads would be taken into account before arriving at a figure on the basis of rate slabs.

The India add-on extends the product is several key ways:

  • Includes and extends the Tax add-on for use in India.
  • Adds "Tax-on-Tax" capability as required for commerce in India.
  • Provides future ability to further customize RT for use in India.

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Configuration

In Group. Options tab.
  • Split Tax on Invoices
    Provides the ability to take a specially formatted Tax name and split it into multiple lines (values) on the Invoice. The multiple values must be split using a comma and each value contain the name followed by the percentage amount followed by the percent symbol contained within parenthesis (Ex. "HST (5%), PST (7%)").

Split Tax on Invoices also requires that Taxes is enabled

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Tax-on-Tax

After the Add-on has been set up, you will see a new Icon in Settings.

Image Tax on Tax (in yellow oval)

Clicking the Tax on Tax Icon will open the Tax on Tax window.

Image

You can also adjust an already placed tax by clicking on the tax.

Clicking on the New button will open the New Tax on Tax window.

Image

To place a new Tax. just place a name of the tax and in Percentage box place the number. Click Apply and then OK. it will now be added to your Tax on Tax window

Don't forget to see Tax as you will also have to set up your base tax to be taxed.

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Usage

Now when you go to Customers and Contracts you will see you have 2 dropdown windows

Image

Image

Both these windows can now be opened and the tax bar and tax on tax bar can be adjusted to the settings you want.

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Splitting the Tax

If you or the Providence wants the Split tax to show up on invoices RadioTraffic makes that possible. It requires very specific placement of characters with the split numbers. but don't worry we will show you how.

You see, in the image below, the most basic way to place the split. The letters can spell anything you wish (within reason of window size) but you must place the numbers in with the percentage and surrounded by the parens (In yellow) Image

Then fill the Percentage window with the TOTAL amount. (in Blue)

Now your printed invoices it will look like this. Image

The split will not show up in reports. They will be together as the total. Image

See Tax.

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FAQ

If there's anything that you'd like to see added to and/or expanded upon, please let us know by sending us a smile.)))

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Additional Information

http://kmhouseindia.blogspot.com/2017/01/what-is-surcharge-on-income-tax-in-india.html

http://taxsummaries.pwc.com/uk/taxsummaries/wwts.nsf/ID/India-Corporate-Taxes-on-corporate-income

ADD-ON:
$15 per month X # stations

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