Understanding Delivered Tax Elements
This section discusses:
Delivered tax earnings.
Delivered tax deductions.
While the elements in this section are defined as earnings, they are actually used to store specific information. "Previous" in the following table refers to previous employment, such as "Previous Employment Salary." The elements in this section do not function as typical earning elements.
Global Payroll for India delivers the following elements to process payee taxes:
|
Earning |
Description |
|---|---|
|
PREV SAL |
Previous salary. |
|
PREV PT |
Previous profession tax. |
|
PREV TDS |
Previous tax deducted at source. |
|
PREV HRA |
Previous house rent allowance. |
|
PREV LIC |
Previous life insurance deduction. |
|
PREV SAL HRA |
Previous salary for house rent allowance. |
|
PREV MED EXM |
Previous medical exemption. |
|
PREV LTA EXM |
Previous leave travel allowance exemption. |
|
PREV PF |
Previous provident fund. |
|
PREV EDU EXM |
Previous child education exemption. |
|
PREV HOS EXM |
Previous child hostel exemption. |
|
PREV HRA EXM |
Previous house rent allowance exemption. |
|
PREV CON EXM |
Previous conveyance exemption. |
|
RTO BASE SAL |
Captures the salary changes due to retroactive processing of on the basic salary. This excludes the DA. This retroactive processing value is forwarded from the segment accumulator SEG AC BASE SAL. |
|
RTO HRA EXM |
Captures the changes due to retroactive processing on the on monthly HRA exemption (HRA EXMPT). This retroactive processing value is forwarded from the segment accumulator HRA AC EXM SEG. |
|
CHILD EDU ALW |
Child education allowance. |
|
CHILD HOSTEL |
Child hostel allowance. |
|
CONVEY EXM |
Conveyance exemption. |
|
PEN FND 80CC |
Pension fund 80CCC. |
|
MED INS 80D |
Medical insurance premium 80D. |
|
MED HND 80DD |
Medical treatment (handicapped dependents) 80DD. |
|
MED AIL80DDB |
Medical treatment (special ailments) 80DDB. |
|
EDU LOAN 80E |
Education loan 80E. |
|
DONAT 100PCT |
Donations - 100 percent 80G. |
|
DONAT 50PCT |
Donations - 50 percent 80G. |
|
RENT 80GG |
Rent paid 80GG. |
|
DONAT 80GGA |
Donations - scientific research 80GGA. |
|
INT SEC 80L |
Interest on securities 80L. |
|
PERM DIS 80U |
Permanent physical disability. |
|
LIC PREM |
Life insurance corporation premium. |
|
DEFRD ANNTY |
Deferred annuity. |
|
PPF |
Public provident fund. |
|
PO CUML DEPOSITS |
Post office cumulative term deposits. |
|
NSC DEPOSITS |
National Savings Certificate deposits. |
|
NSS DEPOSITS |
National Savings Scheme deposits. |
|
INT NSC |
Interest on National Savings Certificate reinvested. |
|
PRIN LOAN RE |
Principal loan repayment. |
|
MUTUAL FND |
Mutual funds. |
|
NHB SCHEME |
National Housing Board scheme. |
|
TX REBAT 88B |
Tax rebate Section 88B. |
|
TX REBAT 88C |
Tax rebate Section 88C. |
|
TX REBAT 89 |
Tax rebate Section 89. |
|
INFRA BONDS |
Infrastructure bonds. |
|
LIC ANNUITY |
Life insurance corporation annuity. |
|
ULIP |
Unit-linked insurance plan. |
|
PERQ CAR |
Car perquisite. |
|
PERQ HOUSE |
House perquisite. |
|
TDS STD DED |
Standard deduction. |
|
HRA EXM |
House rent allowance exemption. |
Global Payroll for India delivers the following tax deductions:
|
Deduction |
Description |
|---|---|
|
TDS |
Tax deduction at source. |
|
PT |
Profession tax. |
Note: PeopleSoft Global Payroll delivers a query that you can run to view the names of all delivered elements that are designed for India.