SAP Knowledge Base Article - Preview

3037112 - Annual Accretion of Interest Calculation Clarification Under Income Tax Rules; Effective 1 April 2021

Symptom

  • Perquisite calculation of interest accretion on Er contribution to Funds exceeding INR 7.50 lakhs.
  • Income accruing on Employer contribution to PF, SAF, NPS in excess of Rs 7,50,000  (in aggregate )  would also be taxed as perquisite in the hands of employee and for which government will notify the rules for computing such interest perquisite.
  • Inclusion of interest accruing from EPF & etc. retirement funds in perquisites
  • Annual accretion referred to the sub clause section 17


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Environment

  • SAP ERP Human Capital Management
  • SAP ERP Payroll India
  • SAP ERP
  • SAP ERP Central Component
  • SAP enhancement package for SAP ERP

Product

SAP ERP Central Component all versions ; SAP ERP all versions ; SAP enhancement package for SAP ERP all versions ; SAP enhancement package for SAP ERP, version for SAP HANA all versions

Keywords

/127, annual perk, perquisite,/3PE , KBA , PY-IN , India , Problem

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