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HINIS880 - Batch Prgram For Section 88 - INDIA.

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Title

Batch program for Section 88 (HINIS880)

Purpose

This function enables you to mark the actual contribution entry in Investment Details (Sec88) Infotype (586) automatically. This enables the system to consider the actual contributions to calculate the rebate on tax as opposed to the proposed contributions.

Rebate under Section 88 are post tax calculations, where a statutory percentage of the invested amount is deducted from the total tax payable.

Integration

Prerequisites

The employee must have an valid record in Investment Details (Sec88) Infotype (586).

Features

Selection

You can restrict the selection to an individual or a range of employees, based on:

• Personnel number

• Payroll area

Standard Variants

Output

Running this report marks or un-marks the 'Actual investment to be considered' entry in the Investment Details(Sec88) Infotype (586).

Activities

Example

All employees of DCS Pvt. Ltd. submit the proof of investment for the period 1999 to 2000 in the month of March 2000.

For the purpose of tax calculations, the employer normally uses the information found in the Proposed contributions field in the Investment Details (Sec88) Infotype (586), until the actual amounts are made available with proof of the investment. As this amount is only what the employee proposes to invest, the accounts department must update this information by marking the check box in Infotype (586) when the actual amounts are to be considered for calculations.

The employer, on recieving the actual contribution details, runs the 'Batch program for Section 88' to update the system.

Additional Information

The proposed contributions are used to estimate the tax that is to be eventually paid by the employee. When the employee invests in mutual funds or other funds approved by the goverment, he or she is eligible for rebate on tax upto a statutory percentage.

General Material Data   RFUMSV00 - Advance Return for Tax on Sales/Purchases  
This documentation is copyright by SAP AG.

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