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Procedure documentationDefining the Nature of Assessees: India Locate this document in the navigation structure

 

Use this window to define the nature of assessee for the purpose of determining the tax deduction rate.

For the Indian localization, assessee means any person or entity by whom any tax or any other sum of money is payable under the Income Tax Act, 1961. The assessee may fall under any of the following categories:

  • Individual

  • HUF (Hindu undivided family)

  • Company

  • Partnership firm

  • Association of firms

  • Local Authority such as Municipality and so on

Procedure

  1. From the SAP Business One Main Menu, choose   Administration   Setup   Financials   TDS   Nature of Assessee  .

  2. In the Nature of Assessee window, specify the following fields:

    Code

    Specify the code for an assessee.

    Description

    Description of the assessee code.

    Assessee Type

    Specify an assessee type.

  3. Choose the OK button.