OAB Imputed Income $50,000 non-Exempt Set-up
Hi
We have OAB implemented and Imputed plan in OAB. Basic life is subjected to Imputed income. (we are not using fast formula - we have pay value defined in imputed plan set-up
I have two questions.
1) where is the 50,000 tax exempt amount is defined in the system
2) we have variable coverage and rate calculation for Imputed GTL. in the definition , calculation method is flat amount but while doing calculation, it calculates as
(coverage - 50000) * rate (i.e.flat amount .0005)
flat amount should be constant instead of the above calculation
Thanks
makarand
We have OAB implemented and Imputed plan in OAB. Basic life is subjected to Imputed income. (we are not using fast formula - we have pay value defined in imputed plan set-up
I have two questions.
1) where is the 50,000 tax exempt amount is defined in the system
2) we have variable coverage and rate calculation for Imputed GTL. in the definition , calculation method is flat amount but while doing calculation, it calculates as
(coverage - 50000) * rate (i.e.flat amount .0005)
flat amount should be constant instead of the above calculation
Thanks
makarand
0