Flat rate pay head means which does not depend on attendance example, Conveyance.
Path: Gateway of Tally -> Payroll Info -> Pay Heads -> Create
Name: Conveyance Allowance
Pay head type: Select Earnings for Employees from the list of pay head types
Income type: Fixed
Under: Select Indirect Expenses from the list of groups
Affect net salary: Yes
Name to be displayed in payslip: Conveyance Allowance
Currency of ledger: ₹
Use for calculation of gratuity: No
Set/alter Income Tax details: Yes, once enable this option then the below screen will appear.
Calculation type: Flat Rate
Calculation Period: Months
Rounding method: Normal rounding
Income Tax component: Transport Allowance
Tax calculation basis: On Projected value
Deduct TDS across Periods: Yes
Press enter to save the screen
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