Infotype-585 and 586

[Former Member]

Dear Experts,

Client is asking abt the Infotypes-585 and586.

How to enter the data in that particular infotypes

is configuration required for this

Pls expalain me clearly.

[Sujith_EM · Accepted solution]

IT0585 is for SECTION 80 deductions , here you have to maintain the contribution made towards section 80, such as Contribution towards certain pension funds , there will be a limit for the amount and tax exemption percentage. In the begining of the financial year you are proposing the amount in the proposed amount column , before the end of the financial year you have to enter the actual contributions, to take the actual contribution for tax exemption under section 80 you need to tick the consider actual contribution for tax exemption check box.

Like wise IT586 is for section 80C deductions , but it is about the investments such as payment towards LIC policy etc.

Total exemption amount (Section 80 + Section 80C) is 220000

Maximum exemption 120000 for Section 80 that in IT0585

and Maximum exemption 100000 for section 80C that in IT586

If the payroll control record is not in the current financial year system will not allow you to enter values in IT585 and IT586 for the current financial year.

[Former Member · Accepted solution]

Thank you very much sujit,

Do we need to do any configuration in IMG for this process?

Pls let me know

[Sujith_EM · Accepted solution]

Check whether there is an entry Contribution to Long Term Infrastructure Bonds in IT585 , if not please apply SNote 1474958 - Budget 2010: New investment category: Section 80CCF

[Former Member]

Hi,

Try with BDC or LSMW With help of ABAPer.

Regards,

Anand Babu R