Hi Expert,
We have developed a Z programme for calculating LTA eligibility amount. It also carry forward LTA amount for next year and update in IT589.
For applying exemption amount data is entered in IT582, and then it automatically get updated in IT0015 in wage type LTA.
My client want to settle LTA amount in every two year in four year block.
All the unclaimed amount will be processed as taxable LTA amount and will be processed and settled down.
For example:
For block 2014---2017
Employee 2014-2015 eligibility amount is Rs 20.
Employee 2015-2016 eligibility amount is Rs 30
Employee claim (in 2015) Rs 10 through IT 582, and taken as non taxable amount and processed.
In Jan 2016 they want to settle the LTA amount completely.
So this carry forward amount on 2016 is to be settled down and processed as taxable amount.
Can you please suggest how to do it. Do we have to run some report for full and final settlement or we have to manually process this trough any taxable wagetype and run the payroll?
How the system will consider the taxable amount and non taxable amount.They go for off cycle payment for non taxable amount and regular payment for taxable amount.
Thanks
Swarna