Archive for November, 2013
Incorrect employee Permanent Account Number (PAN) in Form 24Q leads to problems for both the organization and employees. Organizations spend significant time and incur costs in refiling Form 24Q for correcting mistakes made in earlier filings. We typically come across 3 types of incorrect PAN. 1. Structurally invalid PAN: The PAN of an employee does […]
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Leave a Comment (1) →Section 192 (2B) of the Income Tax Act allows an employee to furnish particulars of income under any head other than “Salaries” for the same financial year and of any tax deducted at source thereon. In other words, an employer can consider an employee’s other income and the tax deducted at source (TDS) on the […]
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Leave a Comment (1) →Jan 2017 update: The ESI wage ceiling has been enhanced to Rs 21,000 with effect from 01-Jan-2017, please take a look at our blog post here. Payroll managers are aware that the existing wage limit (as of Nov 2013) for coverage under the ESI Act is Rs 15,000 (Rupees Fifteen Thousand) per month. Also, that […]
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