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Sr. No: Defines the serial no of the line item.
Deduction Code: A unique code that identifies the deduction name, this will help the user to easily identify the deduction type while doing a transaction.
Deduction Name: The name for the deduction head, wherein users use this deduction head name while posting the transactions into the system and also user can generate individual report using the deduction name.
Subledger Type: The subledger type indicates the deduction made during a particular transaction. Example: When a payment to be made for a contractor, TDS deduction is done a and “Contractor” would be mapped to the subledger type.
Account Code: A set of GL code would be mapped for the deduction code, these accounts codes would be used in the transaction when a deduction need to be made.
Remitted To: The “Remitted To” represent the relevant government department to which all the statutory remittances like Provident fund, TDS, CPF and ESI etc are deducted and remitted as per the Act.
IFSC Code: The Bank IFSC code pertaining to the bank Account of the relevant government department, the IFSC code will be a validation check for the bank account.
Account Number: The Bank account number represent the account number to which all the deduction which are made would be remitted.
Description: A short description shows the deduction details for which the remittance made to the relevant government department.
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