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PAY_IN_BTAX_200 - Assign Tax Slab Rates

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In this activity, you assign a tax rate to a slab code for each tax bracket.

Employees on tax code SL01 earning up to Rs. 50,000 (tax bracket 1) pay no tax.

Employees on tax code SL01 earning between Rs. 50,001 and 60,000 (tax bracket 02) pay tax at a rate of 10 percent.

If an employees taxable salary is 55,000, he or she falls under tax bracket 02 and is taxed at a rate of 10 percent.

1. Enter the Slab code in the Slab code field.
2. Enter the tax bracket in the Tax bracket field.
3. Enter the upper limit of the tax bracket in the Hi range field.
4. Enter the tax rate in the Tax rates field.
5. Enter the currency in the Currency field.
6. Save your entries.

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