Hi Vijay,
As per your query standard system will be working fine you will do the below cofiguration.
1. Absence type
2. Counting rule with deduction rule
3. Absence Quota Type
4. Genration rule of Absence Quota type
5. Quota Compensation.
Through your absence quota type configuration annual quota value will come to IT2006 then when you will apply leave through IT2001 then combinely counting rule and deduction rulw will act deduction the quota value from the IT2006. Then in the IT2006 you will get the updated quota value (Annual Quota - IT2001 absence day's) after that when you will compensate the quota through IT416 then again no of compensate day's will be deducted from IT2006 of absence quota and after that you will be getting final remaining quota value in IT2006 which would be your current year remaining balance.
Hope so you got it.
Regards,
Sankarsan