7.26 Process Admin Tax Maintenance Detail

This topic provides the systematic instructions to maintain the Admin Tax calculated.

Admin Tax calculated by an external system will be sent to FCIS System as an external file. This can be interfaced and imported into FCIS system.

The Admin Tax calculated by an external system, can be imported into FLEXCUBE.

The amount is accrued and proportionately distributed among the credit unions with respect to the business made till date.

If Calculation method is set to Daily, then the admin tax is computed and processed daily taking outstanding balance till date into consideration.

On the other hand, if the calculation method is set to Average, the admin tax is computed monthly taking average balance into consideration.

Note:

This feature is only available if your installation has requested for it.

1. On Home screen, type UTDADTAX in the text box, and click Next.
   The Admin Tax Maintenance Detail screen is displayed.

   Figure 7-35 Admin Tax Maintenance Detail

   
   

   
   Description of "Figure 7-35 Admin Tax Maintenance Detail"

   
   
2. On Admin Tax Maintenance Detail screen, click New to enter the details.
   For more information on fields, refer to the field description table.

   Table 7-35 Admin Tax Maintenance Detail - Field Description

   Field	Description
   AMC	Alphanumeric; 12 Characters; Mandatory Specify the AMC from which the Admin tax would be distributed. You can make your choice by using the option list.
   Rule Effective Date (DD/MM/YYYY)	Date Format; Optional Specify the date on which the admin tax needs to be captured. Note: The effective date can be lesser than or equal to the system date.
   Fund ID	Alphanumeric; 6 Characters; Mandatory Select the ID of the fund to which the admin tax needs to be distributed.
   ISIN Code	Display The system displays the ISIN Code of the fund to which the admin tax needs to be distributed.
   Admin Tax Value	Numeric; 22 Characters; Mandatory Specify the admin tax value to be distributed here. Note: The amount specified here should be greater than zero.
   To Entity Type	Alphanumeric; 1 Character; Mandatory Specify the entity to which the admin tax needs to be distributed. You can make your choice by using the drop-down list.