ERPstuff - Oracle EBS Community

Hi all,

As per Section 40A(3) of Indian Income Tax Act, any expenditure incurred as a payment in sum of exceeding Rs.20000/- otherwise of paying with payee account cheque, demand draft or any transaction made by banks like RTGS, shall not be allowed as a deduction.

Hence we need to restrict cash payment in excess of 20,000 rupees in cash. My question is how to implement this requirement in Oracle R12.

Thanks in advance

Rajib

Hi Rajib,

Pure Functional Solution will be to,

Create a dummy Bank account called "CASH" and while configuring the payment controls details, provide the Maximum Payment and Maximum Outlay as 20,000 Rs.
Now by making the above restriction, when ever you use the bank account "cash" for making an payment, you cannot make payment above 20,000 , but you cannot make manual payments i.e. you cannot make payments via payment workbench, you need to use payment batch in that case ...


With the help of personalization one may,
Create a Payment Method called CASH using payment administrator, and perform a personalization in payment workbench, whenever the payment method is cash, the amount paid field cannot exceed 20,000 rs ...

Please test it for yourself, i have not tested the same ...

Regards,
Karthikeyan