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…
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…
What is Gratuity? A company pays gratuity as a lump sum when an employee leaves the organization, making it one of the company's retirement benefits. In India, the Payment of…
Highlights of Budget 2019 The union budget is an important day for the salaried classes, as they keep an eye on the tax reforms and sops about their income. A…
There are three ways to calculate TDS and we follow these 3 methods in Sumopayroll: Efficiently calculate employee TDS using our 'Monthly' TDS Calculation, factoring in payments up to the…
Income tax is the unfortunate reality of income. If given a choice, most of us wouldn't want to pay tax on the income we earn. But we should because the…
What is Form 16B? Form 16B is a vital document employer issue to salaried individuals in India at the end of the fiscal year. This document serves as a comprehensive…
Everyone who earns or gets an income is subject to Income Tax slabs in India. This applies to a resident or a non-resident of India as well. Income could be…
While investing in a tax-saving instrument or any investment for that matter, it is important to keep an eye on the taxability of its income. Taxes can constrain long-term earnings…
