HOW TO CONFIGURE WITHHOLDING TAX ON SLAB RATE?

Hi,

one of my client wants to calculate w/tax on the basis of slab rate as given below:

2,50,000  -  NIL

(250,001 - 5,00,000)  - 10%

(5,00,001 - 10,00,000)     - 20%

(10, 00,001 and above)      - 30%

since I have tried above configuration in formula for w/tax but it is not calculating..below are the steps which i have configured:

1. Define W/tax code

w/tax code -A1

Percentage subject to tax - blank

Post indicator - 1

W/tax rate  - blank

Select W.tax form.

2. Define formula for calculation of withholding tax

To base amount           Whldtax           Red. base amount

2,50,000                             

2,50,001                              10                    2,50,000

5,00,001                              20                    5,00,000

10,00,001                            30                  10,00,000

3. Assign w/tax code to vendor master data

4. post vendor invoice (fb60)

Here i am posting of Rs. 3,00,000. but it is not calculating w/tax.

Please let me know where I am disconnecting..

Thanks in advance

Regards,

Vishal