New component treated as annual Exemption

[Former Member]

Dear All,

As per my client's requirement, there is one component i.e Comp. Mod. Fld. Area Allowance has monthly Rs. 1000 exempted.

1. I created one wage type such as 100H.

2. Created one Tax code in v_t7int7 as SCMF.

3. Assigned it in v_t7int9. as below

100H L tax exmp limit based M monthly 1000 SCMF.

4. The wagetype is assigned in v_t7ina9.

5. Created a subtype in IT582 as CMFA.

6. Assigned it in schema ZNN1

as INCTX SCMF 100H A    100H   Comp Mod Fld Area Allowance

But still I'm not able to get the desired result. In f16 the exemption is not there.

Plz guide.

Thanks,

Santosh

[Former Member · Accepted solution]

Hi,

If the exemption sealing is a fixed amount for all employee and the component is an allowance

Please do the following

V_T7INT9  assign the  limit and maintain the frequency. Maintain it as an allowance in V_T7INA9.

For the wage type please maintain processing class 71 specification as A.

Have a Great Day

Jaguar

[Former Member]

Dear All,

The issue resolved by adding /130 in zn71 pcr.

Thanks for the support.

Santosh

[Former Member]

Hi santosh,

Please try below steps.

1. Create your custom WT via copy from model WT MCPY.

2. Created Tax code in v_t7int7 as SCMF.

3. Assigned it in v_t7int9, make Frequency annual and exmpt - 12000, Tax code SCMF.

100H L Tax exemption is Limit Based A Limit for Tax Exemption is Annual 12000.00 SCMF INR 01.01.1999 31.12.9999

4. Created a subtype in IT582 as CMFA

5. Assigned it in schema INN1

as INCTX SCMF 100H A     ---> Par4 should be blank.

6. Check Evaluation Classes - 7 Section 10 Exemptions, you have to create one customer specific value here and assign the same in your WT 100H.

Hope this will solve the issue.

Regards,

Nirmod

[Former Member]

Dear Nirmod,

In F16 the Exemption details are as follows

Conveyance Exe: 9600

HRA Exe:48000

CEA Exe:2400

Comp mod fld area exe:1000

Total exe:   60000       

[Former Member]

hi santosh,

in form-16 you cannot see this exemption as a line item.

check the exemptions u/s 10 totals this exemption will be added to that.

regards,

praneeth kumar

[Former Member]

Dear Praneeth,

It shows in f16 under the Head u/s 10 but the component amount is not going to add with the Total Exemption.

Santosh

[Former Member]

hi,

In CC 30 is check mark or not ?

(exemption u/s 10)

regards.....

[Former Member]

Hello,

Test with CC30 but in payroll it troughs error.

Termination in operation ERROR

20120108

X025******         ERROR     #          =          =          =          =

Basic entry in IT :

[Former Member]

Hi santosh,

for your new created Wage type

check like this and test:

PC: 04-6, 05-9, 06-0, 10-0, 20-8, 30-0, 31-0, 70-0, 72-0, 76-1

CC: 30

regards,

praneeth kumar