The Verify TDS Amount page is designed to assist administrators in reviewing, comparing, and correcting TDS calculations. Through this feature, the SuiteApp enables users to search for vendor bills using filters such as subsidiary, vendor, fiscal period, and section code. It then performs an automatic calculation of the exact TDS that should have been collected for the selected bills and compares it with the accumulated TDS amount currently recorded in NetSuite. This comparison helps users quickly identify discrepancies.
This functionality is particularly useful:
- Prior to remitting TDS to the tax authority,
- After making multiple changes to vendor bills,
- During routine financial closings or audits.
By verifying TDS, organizations can ensure their records are accurate and compliant, minimizing the risk of overpayment or underpayment.
To verify TDS:
- Navigate to Setup > India Localization > Verify TDS Amount.
- Enter the required search criteria:
- Subsidiary – Displays only active India subsidiaries.
- Vendor – Lists active vendors associated with the selected subsidiary.
- Period – Shows active fiscal periods for the subsidiary.
- Section Code – Displays active TDS section codes.
- Click Search.
The SuiteApp retrieves all relevant vendor bills and performs a virtual TDS calculation without modifying any records. It displays both the calculated (exact) TDS and the accumulated TDS side by side for comparison.
- If the amounts match, no further action is needed.
- If there is a discrepancy, users can proceed with an update to correct the accumulated TDS.
When updating:
- The system deletes related TDS journals and tax buckets,
- Recalculates TDS for all applicable bills,
- Creates a new, accurate tax bucket.
Each step is logged with user details, operations performed, and timestamps, ensuring a complete audit trail for compliance and review.
Important Note:
Users must not create, edit, or delete any bills that match the selected combination of subsidiary, vendor, section code, and period during an update. It is essential to wait until the update process is fully completed before initiating another.
Reference – Verifying TDS Amount