Hi All,
Scenario : Client is distributing GPF arrears to EEs. For Ex: an EE who was eligible to get Rs 1,00,000 arrear gets Rs 70,000 after deducting 30,000 (30%) Rs Tax as TDS. Point to note is that EE is not being given this amount in Cash in Payroll; rather his Ledger Balance is updated in Finance.
Requirement:
client wants to show the additional arrear income as well as 30,000 additional tax in the Form 16 ; but doesn't want to pay the money in payroll to EE as net pay. The Client also doesn't want this additional tax to be deducted from net pay as EE is not paid in payroll.
Suggestion required :
1) Should I use additional income 584- & TDS on other income.
2) Should I use additional tax- MVT2- the problem is /462 getting generated here is subtracted from net pay as a standard in IN30. Also /460 is not geeting added up with the amount of MVT2 as I want.In this case not sure where to show in F16
3) Any other Solution ... u feel would be suitable here..
Thanx in Advance to Gurus..