Hello community!
The current setup for Income Tax calculation is not quite flexible as I expected or rather, doesn’t work for my use case. Here is my situation:
Where we’re considering adopting ERPNext, Income Tax is calculated as demonstrated in the image below:
With the current setup. I can add the ranges and add the % percentage deductions (inverted). E.g In the given example in the image above, I’d subtract 80%.
But as you can see, the calculation does not end there, there still needs to be deducted another amount from the result of the first deduction.
My request is if there could be a way to make the final amount on each taxable_salary_slab dependant on a formula as we do with Salary Components.
- Check field for “amount_dependant_on_formula”
- Have “amount” or “taxable_earnings” available in the context for use in the formula
With this, I’d then go on to adding a formula such as:
(taxable_earnings - (0.8 * taxable_earnings)) - 4500 # <- Additional amount/other expressions.
This is the problem I’m currently faced with, there is no way to add a formula. Now, I’m still a newbie to ERPNext and Frappe, but not to Python. I have seen how flexible ERPNext is, so if someone can point me to where I can add some tweaks to achieve this desired result, whether by custom scrips, or server scripts, or any other way possible.
Any advice/suggestion is welcome.
Regards
Redren.