Payroll: What is the meaning of Maximum Amount for Tax Exempted Rule
Question : What is the meaning of Max. Amount for Tax Exempted Rule in maintain allowance? What will happen if the allowance paid is exceed the maximum amount?
Answer :
It is a capping amount for tax exempted.
E.g.:
1) User maintained one allowance with rule 09002.
| Rule : 09002 |
| Description : Petrol card, petrol allowance or travel allowance and toll card for office. |
| Max Amount : RM 6000 |
6000 capping amount :
Allowance amount <= RM 6000 (max amount) is exempted from tax.
Any allowance amount exceeding RM 6000 is taxable.
2) User main another allowance with rule 09004
| Rule : 09004 |
| Description : Meal Allowance. |
| Max Amount : Empty (zero capping amount) |
Unlimited capping amount:
There is no limitation which means all allowance amount is exempted from tax.
By : Aisyah 180724, Lay Swan 190109, P190109
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AutoCount Accounting 2.0 & 2.1
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AutoCount Accounting 1.8 / 1.9
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