Tax Rate Table
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The system displays the following in the “Access History” group box:
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Effective Period |
From the drop-down list box, select the effective period for the rate table information created. |
Enter the following details in the multiline:
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Salary Lower Limit |
The lower limit of the employee’s salary. |
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Salary Upper Limit |
The upper limit of the employee’s salary. Ensure that the value is entered must be greater than salary lower limit. |
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Tax Rate |
The tax slab applicable for employee tax calculation. |
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Accumulated Difference |
The accumulated difference of the tax rate table. Mandatory |
Enter the following details:
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Modification Option |
Use the drop-down list box to specify the modification option. The combo is loaded with “Select”, “Correct” and “Update”. The system by default displays “Select” on launch of the page.
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New Effective From |
The new effective date of updated records. |
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Remarks |
Any remarks or additional information regarding the master setup details. |
Note: Modification Option: While modifying the rate tables applicable to any fund, you can use one of the two available modification options viz., “Correct” and “Update”. If you choose the Correct option, the changes you make will come into effect in the existing record itself. If you choose the Update option, the system closes the existing version of the record and will create a new record containing the changes you make. You are to specify a new effective date which will become the effective date for the new record.
Click the “Submit” pushbutton.
The system saves the tax rate table details.
