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Dec 16, 2013 at 07:25 AM

Advance WT Processing


Hi All,

We have a scenario for calculating LTA Adv + LT actual Pay with Tax :

LTA Policy:

LTA Calculation:

LT A is one month gros salary, employee is eligible every year.

LT tax is 10%.

Employee can take LTA Advan, in this case Employee taking LTA advance in 2013 for LTA 2014.

LTA is Rs. 5000
LTA tax Rs 500(10% of 5000)
LTA adv taken in 2013 is Rs 1000.

So when we process LTA of 2014, in feb 2014 its should consider LTA advance also

Means LTA of 2014 will be : (5000-500)- 1000(Adv) = 3500

Till LTA TAx calculation we manged in PCR , How we can process this LTA adv ded in PCR.