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New Income TAX 2014-15 SLABS AND PATCH INFORMATION?

Former Member
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Dear Gurus,

1. When will SAP Realease the new Budget Income Tax slabs Patchess?

2. Is the tax slabs are applecable from Aprial or from july?

3. If it is from April then how will system adjust the tax of the employees in retro run?

and any once can you please share the new changess..

Thanks & Regards,

Sajid Ali Khan,

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
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Hi Sajid,

SAP will release note by 25th of July 2014. For more information refer note: 2041635 - Union Budget 2014-15.

Regards

Ratan

Former Member
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Hi Ratan,

Thanks for your Inputs....

more updates will help to all....:)

Regards,

Sajid Khan

Former Member
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Hi Sajid

my pleasure

Former Member
0 Kudos

Hi Sajid,

Sap Released S Note:  2041819 - PY-IN: Union Budget Changes for Year 2014.

SAP release Version 6, of sap Note : 2041819 - PY-IN: Union Budget Changes for Year 2014

with Version 6 (28/07/2014) - Manual Document updated with Surcharge configurations

Regards

Ratan

Answers (4)

Answers (4)

Former Member
0 Kudos

Hi Sajid,

Please go ahead and do manual entries as given in the note.

The system will calculate retro from april.  The changes are effective from April.

Undersection 24 is not working please let me know if you face same issue or resolved

Former Member
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Hi Priya,

As per the webinar, Section 24 should work fine..Otherwise raise an OSS with SAP

Regards

Geeta

former_member350573
Participant
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Hi Priya ,

Section 24 deduction works perfectly for me . Its clearly stated in the budget note released to get your system upgraded to N-1 patch level.

We are currently working on SAP 604 sp76(upgraded from 64-76) , and EA-HR patches updated to 55..

Please ask your basis consultant to check the levels and upgrade accordingly .

The manual changes given in the budget note are working correctly.

regards

sandhya

Former Member
0 Kudos

Hi Geeta,

Raised OSS with SAP.  I didnt reply from them Iam waiting from them

My Patch Level is 94 we updated patch level last year   Other companies got a reply They said the patch level is 26 so told to update the patch level first

In my case Iam confused what would be the reason??

Former Member
0 Kudos

Hi Sandhya,

Thank you for your reply.

Could you please let me know In which note they gave. I have gone through note- 2041819 No where it is mentioned.

Our Patch Level is 94 Will that suffice

Former Member
0 Kudos

Hi Priya,

Is your Isse was resolvedd? or still your getting the same?

Please confirm...

Regards,

Sajid Ali Khan.

Former Member
0 Kudos

Please check this link

Former Member
0 Kudos

Do we need to delimit SL27 SL28 SL29 SL30 till 31.03.2013. In the note it is mentioned to add entries SL31 till SL34 Kindly please let me know

0 Kudos

Hi Priya,

Yes, you need to delimit these slab codes SL27, 28, 29 and 30 (till 31.3.2014).

Best Regards,

Aman

AGS

Former Member
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Thank you Aman I delimited.

Undersection 24 is not working for 200000 According to note I maintained entries but its not coming under income HD salary

Can you please let me know what would be the cause??

chetangaikwad
Participant
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Hello,

Kindly check SAP Note; 2041635.

With Regards,

Chetan Gaikwad

former_member194940
Active Participant
0 Kudos

Dear Sajid,

1. Union budget has announced it today and it will take few days for SAP to release the notes for this.

2. Union budget has announced it for fiscal year 2014-2015, so it will be effective from April.

3. The configuration of slabs needs to be changed effective April and the system will automatically calculate the retro for the previous period.

Updated slabs -

For the Fiscal year 2014-15, Individuals below the age of 60 years the new Income tax slab is Rs 2, 50, 000 while for seniors citizens the new slab is Rs 3, 00, 000 from existing Rs 2.5 lakh.

As per the new Income Tax slabs, Individuals will have to pay taxes above the income of Rs 2.5 lakh for individuals below the age of 60 years and Rs 3 lakh for senior citizens. At least Rs 5150 will be saved by an individual after the raise in exemption limit.

Income RangeGeneral (non-senior citizens) CategoryWomen Below 60 years of ageCitizen above 60 years of age
Rs 2.5 LakhNilNilNil
Rs 2, 50001-Rs 3, 00, 00010%10%Nil

Rs. 2,50,001 to Rs. 5,00,000

10%10%10%

Rs. 5,00,001 to Rs. 10,00,000

20%20%20%
Above Rs. 10,00,00030%30%30%
Former Member
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Hi

Thanks for your replly

please update if the patch is realeased...........

Regards,

Sajid Ali Khan,

Former Member
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Dear Bhabagrahi Sahu,

What about maximum rebate upto Rs. 2000 under section 87A ?

Rajendra

Former Member
0 Kudos

Thank you for your update please let me know once the notes are released

Former Member
0 Kudos

Dear Bhabagrahi Sahu,

Is it possible, If we need to update new tax slab manually in SAP.

If Yes then Where can I check/find manual instructions.

Amit

Former Member
0 Kudos

Hi Amit,

As per knowledge dont do manual updation.

in the notes there some supporting levels and also Manufiles attached..

according to that you should fallow

so, suggesting you to dont do that..

gurus please correct me if iam wrong......:)

Regards,

Sajid Ali Khan,

Former Member
0 Kudos

Hi Sajid/Gurus,

Thanks for the suggestion.

but I don't want to do manual updation, this is just for knowledge.

I am working as end user and know little bit about HR (HCM).

Can you please suggest me which book is good for HR - HCM (in Details) so that I can understand the SAP more.

Regards

Amit

Former Member
0 Kudos

hi,

refere PK Agarwal Book but for this you need to have basic understanding..then only this book is very help full

regards,

Sajid Ali Khan.

Former Member
0 Kudos

Dear Sajid,

Thanks for the reference

I am getting this error while running simulation in production. I have removed back dated absences but system shows the Error :No entry found in the table T512W Key 40 /AF3 20140630

Please help

Regards

-- A B