Unable to understand why TDS - 5% is shown as 4285.71 instead of 4500.00
you have checked the inclusive of taxes option.
go to edit, uncheck that option. and save.
but basically the amount includes TDS. What should be my customs tax is it -5% or 5%.
A) if the tax amount of 4500 is correct, then you have to calculate tax rate yourself. by my calculations it comes to 5.2632% approximately.
B) if the tax rate is correct, then the tax amount calculated (4285.71) is correct. Custom tax rates are always positive.
@SaiKiranch, I think you are confusing two concepts. One is whether unit prices are inclusive or exclusive of taxes. For an explanation, see this Guide: Manager Cloud. Give close attention to the examples and caution statements. They directly affect part of your question.
But Tax Deducted at the Source (TDS), or withholding tax, is not an additional tax in Manager. Withholding tax refers to amounts on invoices withheld by the buyer and paid to the tax authority on behalf of the seller. You are treating TDS as a tax in its own right. Taxes deducted or withheld at the source should not be created as custom tax codes. See this Guide: Manager Cloud.
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Noted, how about it case of purchase invoice. may be I am dumb to understand it
Did you read the second half of the Guide I link to? It covers purchase invoices.