Title
Batch program for Section 88 (HINIS880)

Purpose
This function enables you to mark the actual contribution entry inInvestment Details (Sec88) Infotype (586) automatically. Thisenables the system to consider the actual contributions to calculatethe rebate on tax as opposed to the proposed contributions.
Rebate under Section 88 are post tax calculations, where a statutorypercentage of the invested amount is deducted from the total taxpayable.

Prerequisites
The employee must have an valid record in Investment Details(Sec88) Infotype (586).

Features

Selection
You can restrict the selection to an individual or a range ofemployees, based on:

• Personnel number


• Payroll area

Output
Running this report marks or un-marks the 'Actual investment to beconsidered' entry in the Investment Details (Sec88)Infotype (586).

Example
All employees of DCS Pvt. Ltd. submit the proof of investment for theperiod 1999 to 2000 in the month of March 2000.
For the purpose of tax calculations, the employer normally uses theinformation found in the Proposed contributions field in theInvestment Details (Sec88) Infotype (586), until the actualamounts are made available with proof of the investment. As this amountis only what the employee proposes to invest, the accounts departmentmust update this information by marking the check box in Infotype (586)when the actual amounts are to be considered for calculations.
The employer, on recieving the actual contribution details, runs the'Batch program for Section 88' to update the system.

Additional Information
The proposed contributions are used to estimate the tax that is to beeventually paid by the employee. When the employee invests in mutualfunds or other funds approved by the goverment, he or she is eligiblefor rebate on tax upto a statutory percentage.