I have created taxable slabs in payroll period please see in attached image.
If salaray per year < 600,000 there is no tax paid
If salary is > 600,000 & <12,00,000 there will be 5% tax to be paid
If salary is >12,00,000 & <18,00,000 then the tax payable 30,000 plus 10% of the amount exceeding 12,00,000
What formula or conditions do I need to calculate the correct income tax.
I have created salary component also please have the image below
For income tax salary component I have checked Variable Based On Taxable Salary option.
Salary structure is as follow
If resolved, please share learned lessons
Hi @Usman_Khan. Did you manage to find a solution to your issue? I think I need the same too. Would be grateful if you shared any suggesstions.
Hi @nmami, did you also find solution to this? Please share with me and i will be grateful.
This thread is now quite old, and I’m not sure if the original poster ever found a solution, but I suspect that the problem with OP’s set up is that the salary structure is trying to use both income tax slabs and a formula at the same time. When using a slab structure, no formula should be defined.
Have you tried this ?
I have tried the same steps , but if fails also
If you succeed , tell me