Vendor bills and Section 153 withholding
Twelve bills across port, shipping line, labour and transport. The s.153 deduction is computed, net payable adjusted, and the tax accumulated in Withholding Tax Payable — ready when it is due rather than reconstructed at filing time.
Transcript
English transcript of an Urdu walkthrough — the narration in this video is spoken in Urdu.
Six vendors, each with its own category — port, shipping line, labour, transport. Each with its own account.
Twelve bills. Some paid, some partial, some outstanding — the three hundred and eighteen thousand rupee bill is partly paid, with one hundred and fifty-nine thousand already gone.
VB-0009. One hundred and forty-five thousand rupees. Eight percent withholding under Section 153 — eleven thousand six hundred. Net payable: one hundred and thirty-three thousand four hundred.
The deduction happens automatically and accumulates in Withholding Tax Payable, so the amount is ready when it is due — not hunted for at filing time.