company loan

[Former Member]

Hi Experts

I have created five subtypes in infotype 0045 for housig loan,education loan,car loan,two wheeler loan and personal loan. Do you think i should create separate wage types for each subtype for loan payment and repayment and thereafter interest tax free to display as perquisit in Form16.

Please guide.

ravi

[Former Member]

ok

[Former Member]

Hi ALL,

Thanks for all good answers.

As i am now working on Comapny loans can anyone forward me those documents to my id

Vijay

[Former Member]

Hi Vijay

What u r id

Surya

[Former Member]

Hi vijay

my id is ravichandrandwarka at the rate rediffmail dot com

[Former Member]

Hi Ravi,

You need to create saperate wage types for each loan types,

if u have id forward it to me, will send some document

Sunny

[Former Member]

Surya/All,

Could you please forward to me. My ID is Sen underscore vasugi at yahoo dot co dot in.

Regards

SD.SK

Edited by: SD.SK on Jan 29, 2009 5:49 AM

[Former Member]

Hi,

You need to create different wagetypes for display in Payslip, but for taxation purpose no need to create them separately.

Regards,

Tomesh

[Former Member]

Hi

You need to create seprate wagetype for Loan payment , Loan repayment & Loan balance.

For taxation there is no need of creating the wagetype

Thanks

Swati

[Former Member]

Hi Swati

I have configured the wage types and run the payroll and the following Primary and secondary wagetype has been created in RT.

/LCI Interest-be L 01 46,153.84

/LID Interest du L 01 451.92

/LIM Interest fo L 01 451.92

/LLB Loan balanc L 01 46,153.84

/LOP Loan paymen L 01 50,000.00

/LRP Regular rep L 01 3,846.16

8003 HOUSE RENT 3,150.00

8009 CONVEYANCE 1,200.00

8013 SPECIAL ALL 5,150.00

8415 MEDICLAIM 125.00

8417 MEDICAL ALL 525.00

8419 LOAN PAYMEN L 01 50,000.00

8421 LEAVE TRAVE 525.00

9403 REGULAR REP L 01 3,846.16

9404 QRG LOAN IN L 01 451.92

the interest of Rs. 451.92 is getting deducted from Net pay which i dont want to deduct. Please advise.

And the same interst want to show in perquisite column of form16 12BA. in different heads. please advise where to configure it