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Former Member
Dec 06, 2011 at 05:13 AM

wrong perquisite Value for CLA & Loan Int.

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Hi Experts,

1

i have created WT for CLA and maintained IT0581 in which selected 5 company leased Accmodation and mentioned Rent Rs.20000/- and cost of furniture Rs. 50000/-, also WT /115 marked COA/CLA Basis.

as per my clculation taxable perquisite valuse:

15% of Salary 664000 = 99720

10% of cost of Furniture_= 5000_

Total 104720 where system showing 72000+5000= 77000/-

2

in Case of Int. free loan i have activated INJ2 and have ticked the check box Int. rate advantage

Maintained IT0045 as below:

Loan amount granted 50000/- , Loan Condition -> Interest/Repayment exempt,

Indivi. Int. rate= 6% , Individual Ref. Interest= 12%, and in system shows effective intrest rte = 6.169

in regular salary, int. deduction is 250/- its ok where as for annual qerquisite value is wrong ie., 2835/- it is not exactly difference value of Int. rate

Please guide me where i have gone wrong

early reply is verymuch appriciated with points and helpful

Thanks in Advance

Sanm