Aggregate Chapter VI - /432

[former_member312537]

Dear All,

I am facing some issue in chapter VI while running payroll after maintaining IT 0585 and IT 0586. Actually, system has to considered 1.5 lakhs has the max amount but its taking 1.6 lakhs.

Please provide me your valuable inputs in order to solve this issue. I have attached below screen shot for your ref.

IT 0585 :

IT 0586:

Payroll Processing screen shots:

Regards,

Ashutosh

[Former Member · Accepted solution]

In your fourth screenshot, /3i1 already has the value 10000. At which point is this screenshot taken?Trace back through the payroll log above that point and identify where that 10000 originates.

[former_member312537 · Accepted solution]

Under INS80 function.

[Former Member · Accepted solution]

Since the employee also has PF, the total amount under Section 80 C exceeds 150000 and is subsequently limited to 150000. The output of INS80 shows 10000(It should be 15000, looks like Rajiv Gandhi contribution does not get added perhaps because Gross income exceeds 12 lakhs). Hence the total under chap VI =160000(150000 for section 80C including PF + 10000 from It 585).

[former_member312537 · Accepted solution]

Hi Tania,

So, as your saying Chapter VI can cross more than 150000 rite????

Because of section 80CCD(Rajiv Gandhi contribution)

Regards,

Ashutosh Katekar

[Former Member · Accepted solution]

In the given case, Rajiv Gandhi & Swach Bharat contribution are both considered over and above the 1.5 lakh limit, hence Chapter VI exceeds 1.5 lakhs.

[former_member312537 · Accepted solution]

Hi Tania,

This was very helpful . Thanks alot for your inputs

Regards,

Ashutosh Katekar

[Former Member · Accepted solution]

You're welcome!

[BalaAP]

Hi,

Have you implemented the note 2168787

Additional deductions under section 80CCD(1B) ? (manual steps)

regards,

Bala

[former_member312537]

Hi

We have already implemented this SAP Note : 2168787.

Regards,

Ashutosh Katekar

[venkateshorusu]

Go through below link you will get an idea.

https://en.wikipedia.org/wiki/Rajiv_Gandhi_Equity_Savings_Scheme

Regards

Venkatesh