Hi,
I am stuck up in a scenario regarding Form 24q report in SAP.
Supposingly, for the first quarter April'12 - June'12 we generate the Form 24q using transaction code PC00_M40_F24Q - Form 24Q then the values in the Taxable Amount are calculated and reflected for the employees and TDS is calculated correctly. This report is then submitted to government authority. Example for first quarter is quoted below:
| Name of the Employee | Begin Date | End Date | Pay Date | Taxable Amount | TDS | Surcharge | Education Cess | Tax Deducted | Tax Deposited | |
|---|---|---|---|---|---|---|---|---|---|---|
| Ritika Bhandari | 20120401 | 20120430 | 20120430 | 19989 | 499.00 | 0.00 | 15.00 | 514.00 | 514.00 | |
| Ritika Bhandari | 20120501 | 20120531 | 20120531 | 19989 | 317.45 | 0.00 | 9.55 | 327.00 | 327.00 | |
| Ritika Bhandari |
| 20120630 | 20120630 | 19989 | 317.45 | 0.00 | 9.55 | 327.00 | 327.00 |
Now, on coming on to the first month of second quarter July'12, if any chages are made in any of the first quarter months retrospectively and earnings get increased (eg. arrear payment, increase in pay etc) then the Taxable Amounts of the first quarter already submitted gets changed as shown below:
| Name of the Employee | Begin Date | End Date | Pay Date | Taxable Amount | TDS | Surcharge | Education Cess | Tax Deducted | Tax Deposited |
|---|---|---|---|---|---|---|---|---|---|
| Ritika Bhandari | 20120401 | 20120430 | 20120430 | 17000.83 | 499.00 | 0.00 | 15.00 | 514.00 | 514.00 |
| Ritika Bhandari | 20120501 | 20120531 | 20120531 | 17000.83 | 317.45 | 0.00 | 9.55 | 327.00 | 327.00 |
| Ritika Bhandari | 20120501 | 20120630 | 20120630 | 17000.83 | 317.45 | 0.00 | 9.55 | 327.00 | 327.00 |
My concern is what can be done or avoided in the cases where the earnings if gets increased or decreased retrospectively then the Taxable Amount does not gets change for the previous quarters already submitted and adjustments should be in the current quarter month for example in the month of July'12.
Suggestions would be highly appreciated.
Regards,
Ritika Bhandari