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Reply from jaykarkare on Mar 28 at 4:37 AM Create a wagetype for LTA in IT 15. Make the wage type as taxable - select the correct cumulation class so that the wagetype is part of net pay.
Also create a record in It 582 subtype LTA for the same amount.
In the month of jan if the documents are not produced then delete the IT 582 record created at the beginning of the year. System will adjust the Tax
in the remaining 3 months automatically.
If you still face issue, reply to me here.
| | | ---------------Original Message---------------
From: SriKiran
Sent: Wednesday, March 28, 2012 2:49 AM
Subject: Taxation Issue Related to LTA
Hello Gurus,
I have a scenario,
LTA is paid as a part of Basic Pay. and supporting documents to be produced in the month of Jan.
Failing , LTA will become Taxable Amount.
Please help me in configuring this.
Regards,
SriKiran |
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