Date format

The date format applicable to the login user.

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Company Tax Setup Unit

Select a company tax setup unit from the “Company Tax Setup Unit” drop-down list box, for which parameters must be set. By default, the system displays with “Select” Value.

Cut- off Date for Tax Proof Submissions

From the first drop-down list box select the day and month from the second drop-down list box, to specify the cut –off date for tax proof submissions. This indicates that from the specified date, the system computes taxes depending on the proof from exemption of tax submitted by the employee.

Allow Modification Of Previous Year’s Tax Data

By default, the system displays with “NO”. This indicates that the system will not allow the user to modify the earlier tax years data.

Process Period for Taxation Based On

Set the field to “From Date” to indicate that the process period is included in a tax year if its start date falls within the defined tax year.

Supplemental Tax Rates

From the drop-down list box, select the “Average Rate” or “Slab Rate” to indicate the method of computing tax on supplemental income. From the drop-down list, box select  “Not Applicable” to indicate that there is no separate method to compute tax on supplemental income.

Supplemental income is defined, as any income earned that is not regular in nature. For ex, bonus, gratuity, etc.