SAP ABAP IMG Activity PAY_IN_LON_200 (Maintain Deduction Details Under Section 24)
Hierarchy
SAP_HRCIN (Software Component) Sub component SAP_HRCIN of SAP_HR
   PY-IN (Application Component) India
     P40C (Package) HR customizing: India
IMG Activity
ID PAY_IN_LON_200 Maintain Deduction Details Under Section 24  
Transaction Code     (empty) 
Created on 20001114    
Customizing Attributes PAY_IN_LON_100   Define Value Dates for Payroll Area 
Customizing Activity PAY_IN_LON_200   Maintain Deduction Details Under Section 24 
Document
Document Class SIMG   Hypertext: Object Class - Class to which a document belongs.
Document Name PAY_IN_LON_200    

In this activity, you maintain the deduction details on outstanding loans pertaining to Section 24 of the Income Tax Act. Section 24 deductions are applicable to all employees who have availed a loan for housing.

Specify if the loan type is valid for deductions under Section 24 and specify a maximum amount that can be deducted in a year. As different fiscal years have different limits, the employee is eligible to set off against his or her other income such as salary, upto a maximum of the amount that was valid in the year the loan was taken.

For example, if Mr Ram took a loan in the year 1998 and the statutory limit then, was Rs. 30,000, he continues to set off a maximum of Rs. 30,000 per annum for the full repayment period.

Example

Requirements

Standard settings

Recommendation

Activities

  1. Specify the type of loan and the deduction limit in the Loan type and Deduction Limit fields respectively.
  2. Mark the checkbox to indicate eligibility for Section 24 in the Section 24 field and save your entries.

Further notes

Business Attributes
ASAP Roadmap ID 204   Establish Functions and Processes 
Mandatory / Optional 2   Optional activity 
Critical / Non-Critical 2   Non-critical 
Country-Dependency I   Valid for countries specified 
Maintenance Objects
Maintenance object type C   Customizing Object 
Assigned objects
Customizing Object Object Type Transaction Code Sub-object Do not Summarize Skip Subset Dialog Box Description for multiple selections
V_T7INJ1 V - View SM30 Maintain Deduction Details Under Section 24 
History
Last changed by/on SAP  20001114 
SAP Release Created in