Archive for July, 2014
Organizations typically accept investment declarations (for tax saving) from employees at the beginning of a tax year and expect employees to submit proof of investments only towards the end of the year or at the time of final settlement calculation in case of employees leaving the organization before the end of the year. It is […]
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Leave a Comment (1) →As you are aware, the Union Budget for FY 2014-15 was tabled in the Parliament by the Finance Minister of India on 10-Jul-2014. There are some changes to the computation of tax on salary which payroll managers need to consider for FY 2014-15. 1. Changes in tax rates The revised tax rates for salaried employees […]
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Leave a Comment (12) →The Government of Maharashtra has introduced changes to Profession Tax rates effective 01-July-2014. The revised tax slabs for salaried employees in Maharashtra are as follows. Salary for the month in Rs Profession Tax for the month in Rs Less than or equal to 7,500 Nil 7,501 to 10,000 175 10,001 and above 200 per month […]
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Leave a Comment (3) →Joyful Payroll
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