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, the best…
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 check online…
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 following: Basic…
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 (TDS). The…
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 of tax…
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 process can…
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 - benefit…
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 check what…
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 income. The…
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 certain other…
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 this scheme.…
Budget 2020 has given taxpayers the choice to settle between the present tax regime (which allows availing existing tax exemptions and deductions) and a replacement tax regime with lower tax…
