### wrong calculation of Income gain or loss on Final lettable value

We gave input values in Final lettable value and Ded. interest u/s 24 under wholly let out property in IT0584 ,system is generating  deduction under any other income, but we are not getting correct amount.

Calculation

Final

lettable value or Net  Annual value 29000

LessStandard

deduction 30% on NAV 8700

20300

Interest on

loan 205888

Income -185588

But system in giving income gain or losst Rs. 176888/- .

Difference between amount calculated outside and by the system is Rs.8700/-

Like to know where  we are going wrong or need to change any system configuration.

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• Former Member
Oct 21, 2015 at 06:08 AM

Dear ,

Send me screen shot of input please

BMs

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• Hello

Screen shot of amount entered in IT0585. It will great help if i get correct solution

img1.PNG (27.2 kB)
• Former Member
Oct 23, 2015 at 07:31 AM

Hi Sriivas,

As per your data, you have maintained Final Lettable Value (/3O1) = 29000.

Deduction under sec24 (/3O9) = 205888.

Function INIOS reads internal table IOS and coverts them in /3O series wage type and add therm to IT table. Deduction amount will be multiplied by -1 which means amount under deduction 24 wil be multiplied by -1.

Then in function INTAX wage type /131 (Any other Income is computed), this wage type will be computed based on processing class 70 and cumulation class 31.

so now as per your records /131 = /3O1 + /3O9 = 29000 + (-205888) = -176888.

Regards

Saroj

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• Hi Saroj

Your explanation on calculation of Income from House property seems to be fine ,but system should provide correct amount as given by our Tax auditor

Income from House property as given by Tax consultant to be Rs.185588/- ,where as system is providing Rs.176888/-

Calculation

Final

lettable value or Net  Annual value 29000

LessStandard

deduction 30% on NAV 8700

20300

Interest on

loan 205888

Income -185588

We need to give tax exemption as given by our tax consultant ,Please provide solution as we need consider tax exemption in this month payroll.

srinivas

• Oct 24, 2015 at 06:36 PM

Hi,

To avail 30% standard deduction, you may have to enter 30% of final lettable  value in Deduc-Repairs u/s 24 or Deduc-Others u/s24 field in IT-584 and check whether SAP is calculating 30% deduction.

regards,

Bala.

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Hi,

Please show the screen shots of the following tables/logs for better understanding:

1) IOS table (output log of function P0584)

2) output log of INIOS function - this will have 3O series wage types.

3) V_t511k table - constant REP24.

I hope, you are using above standard configuration for calculation of income from other sources.

Please also enter 30% value  Rs.8700 in infotype 584 (as I mentioned previously).

regards,

Bala.