SAP has-been released following Notes and KBA’s
You are executing payroll driver program HINCALC0 (TCode: PC00_M40_CALC_SIMU) for employees working in your organization.
While executing for an employee who has Section 89 computation in a financial year, the value of the wage types /458(Net tax payable) and /460(Income Tax) are rounded off inconsistently.
According to Income Tax Act, Form 16AA is not applicable with effect from Financial year 2010-11.
Since Form 16AA is not prevalent since 01.04.2010, Form 16 becomes the annual form that has to be issued to all employees. In SAP system, from FY 2015-16, Form 16 Part-B will be displayed for all employees.
With effect from FY 2015-2016, the Conveyance Monthly Exemption under Section 10 (14) of the Income Tax Act for a blind and handicapped salaried employee , has been enhanced to INR 3,200 from INR 1,600 .
You are executing Form 24Q report ‘HINCF24Q’ (Tcode: PC00_M40_F24Q) for quarter 4 for employees working in your organization.
For employees without any paid income and income tax for the whole financial year, a record in the ‘Salary and Tax Detail’ is displayed in Annexure II of the report. This is not required. This note makes the correction related to abovementioned case.
The Income Tax Department has released a new version of File Validation Utility, FVU 4.6.
You are using the Form 24Q report HINCF24Q (TCode: PC00_M40_F24Q) to generate TDS e-file.
While you are validating the system generated e-file through the File Validation Utility (FVU) version 4.6, you get an error reading “T-FV-2235 Invalid PAN of person responnsible for deducting / collecting tax”.
Tax Circular no 17/2014 dated 10 December 2014 has been released by CBDT with clarity on rounding of taxable income and income tax.
“Employer is advised to quote Total Taxable Income in Annexure II without rounding-off and TDS should be deducted and reported accordingly i.e. without rounding-off of TDS also” – page 9.
The provisions of rounding of taxable income and income tax components are provided under an existing constant ‘TAXRO’ in the table V_T511K with values ‘0’,’1′,’2′ and ‘3’.
In Form 16 report HINCF160 (TCode: PC00_M40_F16), the value of the wage type /450 (Tax payable and surcharge) is exclusively rounded to nearest INR.1. This rounding of wage type /450 is now provided under the switch ‘TAXRO’.
You are using ESS Income Tax Declarations application for employees in your organization for updating self declared investment details. The details are updated in the master data of employees using report HINUINFU. However while updating investment details using this report there is system dump for employees who has been terminated before the financial year end date.
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