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Question from Satish_Latti on Feb 25 at 1:13 AM Dear Experts,
Please let me know as per the client requirement deduction on "Rent Free Accommodation Tax Deduction" as per the below scenario.
1) The perquisite value shall be arrived at ax for each employee @ 7.5% of gross salary+Ex-Gratia.
2) The tax applicable based on earning shall be calculated.
3) The Tax+ Difference in earning and tax shall be calculated to depict the amount in earning column of payslip & form-16.
4) The tax shall be shown in deduction column of pay slip and form-16.
5) Example:
Employee Code: XXX
Gross Salary PM: 17691
Ex-Gratia : 874
Total Earning : 18565
Perk Value 7.5%: =18565X7.5%=1345pm
Annual Perk : =1345X12=16146
Tax on Perk : =16146X10%=1615+18565
180
And it should be add in net payment in month of March in every year for pay to employee. So please suggest me how can develop in system.
Thanks in advance.
Satish.
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