Rising Bharat – Budget Highlights for FY 2023-24
This article will discuss the budget highlights for FY 2023-24, presented by the Minister of Finance of India on February 01, 2023. This marks the fourth budget of
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Why is a Payroll application essential for an SMB?
Any Small & Medium Business would like to focus on its fast & steady growth by automating the other important business processes, where administration is a huge task,
What are TRACES?
Traces Expanded abbreviation – TDS reconciliation analysis and correction enabling system It is a utility provided by the Income Tax Department for a Taxpayer and the deductor/collector to
What are payments and deductions required for running a payroll?
Let’s first understand what the payments and deductions provided by the employer Payments: Any amount disbursed to an employee by the employer falls under underpayments. They include the
What is TDS, why it is deducted and to whom?
When a person pays certain types of income, such as salary, commission, rent, professional fees, interest, etc., they deduct a specific amount known as Tax Deducted at Source
It is almost the end of the Fiscal year – Did you provide Form 16 to your employees
Form 16/16A Form 16/16A is a mandatory TDS certificate issued by the employer to the employees. This certificate of deduction of tax at source and issued on deduction
Gross Pay Vs Net Pay – A small guide
It’s not easy to dive into the salary structure pool, especially if you’re an employee who isn’t aware of the latest changes on salary and tax. The payroll
Budget Highlights for the FY 2022-2023
Highlights of Union Budget for the FY 2022-2023 We have a promise from the government for a steady & predictable tax system Demystified old & new tax regimes
What are Form 16, 16A, 16B, 26AS, 27A, 27B & how are they different?
Basically, these forms are TDS certificates, with the following differences Form 16 Form 16 is issued by the Employer to Employee. Issued annually before 15th June. Want to
All you need to know about professional tax!
1. What is professional tax? The State levies this tax on the income earned through profession, trade, calling, or employment, based on slab rates depending on the individual’s
How is ESI Calculated?
What is ESI? Employees’ State Insurance Act, 1948 (ESI Act) is social security legislation aimed at providing benefits to employees in case of sickness, maternity, employment injury, and
Explained : Different ways to withdraw the provident fund.
What is Provident Fund (PF)? The Employees’ Provident Fund Organization introduced PF, a retirement savings scheme, in 1952. All organizations having more than 20 employees are eligible under
