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Union Budget 2023-2024: Default Tax Regime To Be The New Tax Regime

This SAP note details changes to consider the default tax regime as the new tax regime in India effective April 1, 2023. It provides instructions for updating employee master data using transaction code PC00_M40_TXMT and enabling moving between tax regimes in ESS. HRSPs or correction instructions can be used to implement the changes.

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50 views

Union Budget 2023-2024: Default Tax Regime To Be The New Tax Regime

This SAP note details changes to consider the default tax regime as the new tax regime in India effective April 1, 2023. It provides instructions for updating employee master data using transaction code PC00_M40_TXMT and enabling moving between tax regimes in ESS. HRSPs or correction instructions can be used to implement the changes.

Uploaded by

Srinivas
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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SAP Note

3309482 - Union Budget 2023-2024: Default Tax Regime to be the New Tax Regime
Component: PY-IN (India), Version: 2, Released On: 31.03.2023

Symptom
As described in SAP ONE Support Launchpad - Notification of Legal Changes
- https://launchpad.support.sap.com/#/legalchangenotification/NoteInforSet/jira=GSREQAPJ-
3953/TwoColumnsBeginExpanded/0, this SAP Note delivers the changes to consider the default tax regime as New Tax
Regime.

Other Terms
HINITXMT, New Tax Regime, Infotype 0588 Subtype 0008

Reason and Prerequisites


Legal change
This SAP Note is relevant only for Payroll India

Solution
Version Reason

1 Release for all customers

2 SAP Note text update

Refer to the SAP Note 3298673 - FAQ on Budget 2023-2024 for overall budget 2023-2024 solution & prerequisite details.
As part of the solution,

The report HR-IN: Batch program for Taxation method (HINITXMT) (Transaction code PC00_M40_TXMT) can be used to
update the master data for all employees in the organisation with New Tax Regime effective from April 01, 2023. For the
employees opting for Old Tax Regime, the admin can update the master data individually or use this report to update the
master data as Old Tax Regime for respective financial year.

ESS: From the Income Tax Declaration application, the option to move from the New Tax Regime to Old Tax Regime is
enabled.
The legal change described under 'Symptom' has been delivered by making relevant changes.
The following options are available for implementing the solution:
Option 1:
Apply the relevant HRSPs to obtain the necessary corrections.
Option 2:
If you do not want to perform an HRSP upgrade and are already at the relevant minimum support package indicated in the
SAP Note 3298673 - FAQ on Budget 2023-2024, apply the attached correction instructions using the SNOTE transaction.

Software Components
Software Component From To And subsequent
S4HCMCIN 100 100

EA-HRCIN 606 606

EA-HRCIN 607 607

EA-HRCIN 608 608

Correction Instructions
Software Component Number of Correction Instructions

S4HCMCIN 1

EA-HRCIN 3

Prerequisites
Software From To SAP Title Component
Component Note/KBA

EA-HRCIN 608 608 2919107 ITD: Selection of New Regime cannot be changed during the PA-PA-IN
year

Support Package
Software Component Version Support Package

S4HCMCIN 100 SAPK-10007INS4HCMCIN

EA-HRCIN 606 SAPK-606F2INEAHRCIN

EA-HRCIN 607 SAPK-607E1INEAHRCIN

EA-HRCIN 608 SAPK-608B8INEAHRCIN

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