An invoice total with tax added and withholding deducted. Withholding is computed on the pre-tax value rather than the invoice total, which is the detail that makes reconciliations disagree.
Also called: invoice total calculator, tds on invoice.
₹1,08,000 payable: ₹1,00,000 taxable plus ₹18,000 of tax, less ₹10,000 withheld at source. Your invoice total is ₹1,18,000.
Computed from the published rates for the tax year you selected, which is not necessarily the current year. A calculation, not tax advice, and it does not know anything about your circumstances beyond the figures entered.
Discount comes off the subtotal, tax is added to what remains, and withholding is deducted by the client before payment. The order matters: withholding is calculated on the taxable value before tax, not on the invoice total, so a client who deducts on the gross has over-withheld. Whether tax applies to shipping depends on the jurisdiction and the nature of the supply, which is why it is a switch.
payable = taxable value plus tax, less withholding computed on the pre-tax valueEach of these is asserted on every build. If a change to the engine ever moved one of these answers, the build would fail before the page could print it.
Amount the client pays₹1,08,000
Withholding on the 1,00,000 pre-tax value, not on 1,18,000
Open this exampleAmount the client pays₹97,200
boundary
Open this exampleAmount the client pays₹1,00,000
degenerate case
Open this exampleFormula version 1.0.0 · definition 1.0.0 · India · Report a problem with this calculator