GPIND: Tax Credit87A Is Not Calculating As Per Taxable Income, Instead Calculating as flat 12500
(Doc ID 2709187.1)
Last updated on FEBRUARY 03, 2021
Applies to:PeopleSoft Enterprise HCM Global Payroll India - Version 9.2 and later
Information in this document applies to any platform.
As per Indian tax rule whose Taxable income is greater than 2.5 lakh and less than 5 lakh, a Tax rebate of 12500 is applicable. But in peoplesoft, for payees whose Taxable income is 3 lac and his liability is 5000, system is calculating flat 12500.
The issue can be reproduced at will with the following steps:
1. Navigate to Navigate to Global Payroll & Absence Mgmt> Absence & Payroll Processing> Calculate Absence & Payroll, Process payroll for payee with taxable income 4Lakh
2. Navigate to Global Payroll & Absence Mgmt> Absence & Payroll Processing> Review Absence and Payroll Info > Results by Calendar Group, Observe the tax rebate 87A element for the payee, it is calculated as 12500
To view full details, sign in with your My Oracle Support account.
Don't have a My Oracle Support account? Click to get started!
In this Document