House property under construction – Section 80C benefit
The Indian Income Tax Act stipulates the conditions under which a salaried employee can claim tax rebate on interest payment...
Read morePAN verification by payroll managers
Incorrect employee Permanent Account Number (PAN) in Form 24Q leads to problems for both the organization and employees. Organizations spend...
Read moreConsidering employees’ other income while calculating TDS on salary
Section 192 (2B) of the Income Tax Act allows an employee to furnish particulars of income under any head other...
Read moreWhat if the ESI salary goes above Rs 15,000 during the contribution period?
Jan 2017 update: The ESI wage ceiling has been enhanced to Rs 21,000 with effect from 01-Jan-2017, please take a...
Read moreTax Exemption on Leave Travel Allowance (LTA) – Part II
In an earlier post we looked at the conditions governing tax exemption on leave travel allowance (LTA). In this post...
Read moreTax Exemption on Leave Travel Allowance (LTA) – Part I
As a company engaged in the business of payroll processing and statutory compliance related to payroll, we wonder if the...
Read moreTax Exemption on HRA – PAN of the Landlord
As per a recent circular issued by the Income Tax Department, employees who pay house rent of more than Rs...
Read moreMeal Vouchers/Food coupons issued to employees
Let us take a look at the issues payroll managers need to consider while using meal vouchers / food coupons...
Read moreLoan provided to employees – Perquisite calculation – Part II
In the previous post, we had a look at the basis of perquisite calculation on loans provided to employees and...
Read moreLoan provided to employees – Perquisite calculation – Part I
We find many payroll managers being unaware that loans provided to employees (by the employer) are taxable in the hands...
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