on 04-01-2016 1:21 PM
Dear All,
I have created customer specific exemption, Professional Membership exemption
Now when i do test run for Jan (2016). Where in IT15 (amount is 10000) and IT582 (Amount is 10000)
Now exemption is getting projected. for Jan, feb and mar.
How do i stop this projection.
Feb month salary slip. it is only taking 10000 (which is fine)
Regard
KKS
Hi KKS,
Check the steps_
Payroll function INCTX has four paramters
Parm1:Enter tax code created.(ZPMF)
Parm2:Annual tax exemption wage type created.
Parm3:Whether the payment should be treated like an allowance(A) or a reimbursement(R) while
calculating tax exemption.
Parm4- Monthly tax exemption wage type. This parameter is optional
Thanks,
Gaurav
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.
Hi KKS,
Wage type for payment is 1PET in this case and 9PET for exemption. Two wage type you need to create one for payment and other for exemption.
1PET will be maintained in IT-15 and 9PET will be for exemption.
Copy MCAX in your custom wage type( 9PET in given example), and that will be your exemption wage type.Set cumulation class 7 for that too.
Thanks,
Gaurav
HI,
#Tax code configuration
We need to create tax code as there is no standard tax code available for petrol allowance through IMG
Payroll India-->Tax-->Tax Liability on Reimbursements,Allowances and perks-->Define Tax
Codes(V_T7INT7)
Click on new entries & create new tax code ZPMF
# Assign tax code to wage type
# Assign wage type to Pay Scale Grouping for allowance
Assign wage type to Pay Scale Grouping for allowance through the IMG for Payroll
India→Reinbursements,Allowances and Perks->Calculate Eligibility for RAPs(V_T7INA9)
# Create Subtype for Exemption infotype(0582)
Create subtype for Exemptions infotype(0582) through IMG for Payroll India->Tax Exemptions-
->Define other allowance/reimburesment type for exemptions.The name of this subtype should be the
same as the tax code that you have defined for this allowance or reimbursement.
The details in this subtype are used during the calculation of tax exemption on the allowance or
reimbursement. You can create a record for this subtype at any point of time during a financial year.
Finally Add payroll function INCTX in Gross net calulation – India schema(INN1)
thats it.
Thanks,
gaurav
Hi Gaurav,
Thnx for detail configuration
I am facing another issue now.
Test run for Jan is fine. Amount and exemption both happening.
But if i run it for Feb. Then 5000 exemption is not happening.
Also find my Schema
And IT 15 Detail
Where i have 2 WT
7PMF copied from (MB10). 7PMF is also assigned to t7inA9 and t7inT9.
and 1PM1 is from MCAX. This is not assigned to A9 and T9.
Regard
KKS
Hi Gauav,
Also need to ask, one question.
My Company Has certain reimbursement as EE level.
MD:- 30000
GM-- 25000
AM:- 20000
Let me know, if this can also be achieved by Customer specific reimbursement.
Now for this in table T7INT9.
9999/ LIMIT BASED/ ANNUAL/ 30000/ ZATE/ 01.01.1990/ 31.12/9999
Let me know, if we can achieve this with one WT for all level.
Regard
KKS
User | Count |
---|---|
98 | |
8 | |
6 | |
5 | |
5 | |
4 | |
3 | |
2 | |
2 | |
2 |
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.