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Form-24Q Monthly Taxable Income showing as "1" and TDS "0"

mastan_shaik1
Participant
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Dear Gurus,

     While running Form-24Q in the month of Aug & July "Amount Paid & Credited" column showing as " 1 " and TDS column as " 0 " .

Requesting you all give me the reasons for showing as "Amount Paid & Credited" column showing as " 1 " and TDS column as " 0 " , though Emp payroll has been run for those months.


/4MI & /4MT is not generated in the payroll results in the month of July & Aug.

Below is thescreen shot of Form-24Q.


Regards,

Mastan Shaik.

Accepted Solutions (0)

Answers (3)

Answers (3)

chetan13
Product and Topic Expert
Product and Topic Expert
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Hi Mastan

Generally, Negative value of /4MI is NOT ACCEPTED by NSDL utility and hence negative or zero values would be changed to 1 in form 24q. This is a standard behaviour.

Please check this way.

Regards

Chetan

mastan_shaik1
Participant
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Hi Chethan,

To stop the recalculation of /4MI in the retro period, If we set the return value of "40MWT' feature as "5' in the middle of a Financial year does system not recalculate the /4MI in the retro run?

Currently in the system 40MWT return value is " 0 " and INMWT constant is " 0 ".

To stop the recalculation of /4MI in the retro run what is the return value should I set?

Do we need to set the return value in the beginning of the Financial year or any period in the Financial Year?

Regards,

Mastan.

Former Member
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Hi Chetan,

I understand that it is standard behavior of /4MI to reflect value of 1 when it becomes <=0. So to avoid that, can I use constant INMWT & feature 40MWT?. Our payroll team is ready to refile it for previous quarters when recalculation of wagetype /4MI happens. Also, I want to know whether choosing return value as"0" for feature 40MWT is good.

Request someone to suggest me as I never used this option.

Best regards

Lalitha

chetan13
Product and Topic Expert
Product and Topic Expert
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Please check SAP Note 2080322 where it is mentioned:

"....it is advisable not to recompute /4MI while Retro payroll run."

You can control /4MI recomputation behaviour through the use of the feature 40MWT and INWT. Please check the documentation of these two in your system.

In essense, /4MI once computed should NOT be allowed to be recomputed in retroactive payroll runs in order to make sure that Form 24Q output remains consistent throughout the year.

Regards

venkateshorusu
Active Contributor
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Check result table by using PC_PAYRESULT transaction, how eactly the values are getting stored, Check whether tax deducted component is available or not accordingly we can drill down the values in the log,we can verify FORM 24Q.

Regards

Venkatesh 

mastan_shaik1
Participant
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Dear Venkatesh,

I have checked PC_Payresult for the Emp whose Monthly taxable income showing as " 1 ". It is observed that for the Emps whose payroll gone for retro showing as " 1 " in Form 24Q under the /4MI Monthly Taxable Income.

Would like to know how the feature 40MWT works .

Former Member
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Hi everyone, I am looking for this configuration. Can someone guide me here.

venkat_polisetty
Active Contributor
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Hi Mastan,

I think this is not FORM 24Q Issue and this issue related to payroll. As you said /4MI & /4MT wage types are not getting generated, kindly check the reason.

If employee eligible for Income tax deduction or not and kindly check in IT0015 Is there any tax adjustment wage types(MVT0, MVT1 & MVT2) has been maintained or not.

Kindly check above things and let me know.

Regards,

Venkat Polisetty

mastan_shaik1
Participant
0 Kudos

Dear Venkat,

I have checked PC_Payresult for the Emp whose Monthly taxable income showing as " 1 ". It is observed that for the Emps whose payroll gone for retro showing as " 1 " in Form 24Q under the /4MI Monthly Taxable Income. In that month Emp paid the Tax. But Taxable Amt/Credited ( /4MI ) is showing as " 1 ".

Would like to know how the feature 40MWT works .

There is a constant INMWT in T511K.

How these two can solve the problem. Request you all please guide Me.

Thanks & Regards,

Mastan Shaik.