Income Tax Projection for Retiring Employees

Hi Folks,
One of our Employee is getting retired in the month of August, As per SAP,In April-2009 his IT projection happens for the entire financial Year April to March 2010.
That is his IT projection for APril to March is 5Lakhs, but his actual earnings from April to date of Separation (till august) is 3.5 Lakhs, because of this his Tax liablity from APril to July goes high and in the month of August there is a refund.
Now for retiring Employees how can we make the IT projection happen only till the month of Retirement.  Is their any standard process available or through custom development.
Experts Plz advice.
Rgds,
Sekar.

I have personally checked this,  as facing the same problem. AND THIS IS WORKING,  THANKS FOR THE INFORMATION.
HOWEVER THERE IS ANOTHER SOLUTION ALSO.
One can create an retirement action,  which has to be executed for all the employees going to retire during the year.
system will calculate the gross and project the tax only upto the retirement date.
if exttn is required you can also config the retirement-exten action in case of extension is carried out.
Rather than touching the standard scheme this is the best way I know?  you can also fetch the reports in the future with the help of standard reports.
However, if anyone is having any PCR idea, that is also welcome.  Do give me a helping hand by share the same.
Edited by: virparkash on May 23, 2011 1:19 PM

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    Edited by: virparkash on May 23, 2011 1:19 PM

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