Month: August 2015

Due date for filing the Income Tax Return for 2015-16 is approaching (31-08-2015)

Post author By
Post date August 29, 2015

Dear Taxpayer,

Greetings from Centralized Processing Center (CPC) – Bangalore.

As the due date for filing the Income Tax Return for Assessment year 2015-16 is approaching, please find below certain important points which will be helpful in submitting a correct return and its processing at CPC, Bangalore.

	Electronic filing of income tax return is mandatory for the taxpayer if the total income is more than Rs. 5 lakh or if there is a claim of refund except for super senior citizen (Age above 80 years) or if ITRs 3, 4, 5, 6 or 7 have to be filed (Rule 12 (3) of the Income Tax Rules, 1962 as amended).
	Details regarding how to file the income tax return is available at www.incometaxindiaefiling.gov.in -> Help tab -> ‘How to e-file’ and for any other queries on e-filing -> Please go to -> Help tab -> FAQ.
	New functionality of electronic verification code (EVC) of the Income Tax return has been introduced vide Notification No. 2/2015, dated 13/07/2015. You can use this facility as an alternative for submission of ITR-V to CPC- Bangalore. To know further details on EVC, please visit www.incometaxindiaefiling.gov.in -> Help tab -> EVC user manual.
	For the Assessment year 2015-16, all form types have been notified vide Notification No. 49/2015 dated 22/June/2015 and vide Notification No. 16/2015 dated 29/July/2015. The e-return preparation utility are already available in the e-filing website for filing of return.

To ensure early processing of the electronically filed Income Tax Return and issue of refund by CPC, the following aspects may be taken care of:

	Please ensure all the information like PAN/ Name/ Date of birth/ Date of incorporation etc. are filled correctly in the Income Tax Return. You are requested to use the appropriate form type while filing the income tax return.
	Regularly update the Address/ Email Address/ Mobile number by logging into the e-filing website (www.incometaxindiaefiling.gov.in) with your user id and password under profile tab. This is essential as CPC uses these details for sending all the communications.
	Tax credits: Due care may be taken to avoid any input error of TAN number/ Challan number/ amount and date while entering the tax credits details in the Income Tax Return. To check the details of tax credits visit www.incometaxindiaefiling.gov.in -> Form 26AS.
	Refund: For refund payments, the bank account details along with the correct IFSC code should be mentioned to enable faster refund payment through ECS.
	Outstanding demand: Timely action should be taken for all outstanding demand as reflected in the e-filing website. To know the outstanding demand and to furnish your response to each demand, login www.incometaxindiaefiling.gov.in -> e-file tab -> Response to outstanding tax demand.
	Correctness and Completeness of Income Tax Return: Non filling of the relevant schedules or incomplete data in the return is the most common reason for difference in the Income/ Tax computation by the department. To know further details, login www.incometaxindiaefiling.gov.in -> Help tab -> e-filing check points.
	Removal of defects: Any defects flagged in course of the preparation of the e-return (by using the e-return utility available from department) or while uploading the XML at e-filing website should be corrected so that your return will be processed accurately.

Important Notifications

	The complete details of processing of income tax return including issue of mandatory notices/ failed refunds/ demand outstanding/ rectification status etc are available at e-filing website after login under My Account tab -> ‘e-Filed Returns/Forms’ on selecting the Acknowledgement number.
	The “Work list” on the “Home” page of the e-filing website may please be checked periodically to verify pending proceeding/ actions from the taxpayers end.

Contact Us:

For any queries and further information, please contact:

	Visit: www.incometaxindiaefiling.gov.in
	E-filing Call Center: 1800-4250-0025 (Toll Free) for query related to password/ uploading return/ forms/ EVC etc.
	CPC Call Center: 1800-425-2229 / 1800-103-4455 (Toll free) or 080-22546500 for query related to processing status of the Income Tax Return/ Refund/ Demand/Rectification etc.

With warm wishes,

KORANGRAPADY SUBHAS
Assistant Commissioner of Income Tax – CPC

MAIL FROM: intimations@cpc.gov.in

Payroll

Last date of Income Tax E-Filing

Post author By
Post date August 20, 2015

Hurry Up..!! Last Date to Submit Income Tax E-Filing u/s 139(1) [Select 11 – before due date] is 31st August 2015.

You MUST knows about new changes in ITR for AY 2015-16 -FY 2014-15

Aadhar card linked added to e-verify the return instantly.
Tax Refund to be pay to taxpayer within 1 month.
Use Pre-fill option to fill your ITR instantly
Email verification is mandatory .
Email verification is mandatory.
No hard-copy cost if you have Aadhar card OR Net-banking.

To know more….. Call+91 96544-21288

E-file your Income Tax return @ 499/- Only*

Know more about our support :-

Return to be filled by expert team of Chartered Accountants.
Return to be filled based on Form 26AS .
One year Mobile and Email support.
Adjustment (add: income and OR lees: Investment).
No more courier cost for Verification.
General call in mid of year if Refund claim.
Shared Information will be handover back to you.
Discount 10% on refer one person.

Call Now+91 96544-21288

Payroll

PAY ROLL MANAGEMENT – STEPWISE

Post author By
Post date August 17, 2015

STEP-WISE PAY ROLL MANAGEMENT

Step 1
Pre-requisite before taking up the payroll process work from client
– The purpose behind the re-engineering process of the entire payroll Management would be, by visit of our personnel to not only to suggest bottle necks and improvements but also to clearly share the expectations and
completely understand the scope of the payroll processing assignment .
– There will be trial run for a month to ensure that we are in line with the Expectations of the client.

Step 2
Adherence to the corporate policy
– Ensure that procedures are in place to maintain the records of Corporate Circulars and policies related to pay roll at the regular time intervals.
– Understand the salary components in terms of fixed and variable.
– Understand the benefits available to employees on monthly and yearly basis.
– Understand local laws and compliance of the same related to payroll process.
– Ensure that proper effect to the pay roll is given in accordance with the Policy guidelines defined by the Company.
– Receiving job details along with job code allocation. The job code allocation is to be given according to the type of the job description.

Step 3
Collecting time sheets with attendance sheets
If the on line system is maintained, then it will ensure automatic checking with the attendance register and time sheets. Otherwise the attendance sheets and the time sheets are to be compared manually.

Step 4
Receiving salary details
– Receiving attendance details from personnel department
– Terms of appointment
– Receiving details of salary structure
– Receiving details of Promotion, Increment and Confirmation

Promotion

Changes of Grade, Salary Structure, Department etc. will be initiated in case of promotion on the basis of the information received from personnel department.
Increment
The increment letter of an employee is to be forwarded to us and necessary changes are to be incorporated in the system.
Confirmation
Confirmation letters are to be forwarded to us and necessary changes are to be incorporated in the system.

– Details of disciplinary action taken
Every disciplinary action is based on certain terms and conditions. That terms and conditions, if it has any effect on salary, the same to be incorporated in the system.
– Receiving details of Resignation and Retirement
Resignation
At the time of resignation an exit interview is to be conducted. The final settlement is to be disbursed, based on the notice period.
Retirement
Retirement can be normal or voluntary. Accordingly the final settlement is to be made.
– Receiving the details of Employee Advance
Step 5
UPDATING SALARY DETAILS
– The terms of appointment
– Salary Structure
– Annual benefits
– Attendance details
– Overtime details
– The details of reimbursement
– The promotion, increment and confirmation details
– The details of departmental transfers
– The details of resignation, retirement and retrenchment
– The employee advance position
Step 6
GENERATION OF REPORTS FOR CHECKING
– Salary register
– Variance Report
Step 7
RECTIFICATION OF CORRECTIONS / MODIFICATIONS
Step 8
GENERATION OF REPORTS
– Salary register (Monthly)
– Pay slips
– Advance register
– Bank Statement
– Other deductions and allowance statement
MIS REPORTS
– As per clients requirements.
– Reports to comply with local authorities, if any.

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@Akumar – ajityadav121@gmail.com

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Know your job skill in your company?

Post author By
Post date August 14, 2015

Classification of skills Category (Employee)

(A) Highly skilled- Highly skilled work employee is one who does the work which involves skill or competence of extra-ordinary degree and possesses supervisory ability.

(B) Skilled- Skilled employee is one who is capable of working independently and efficiently and turning out accurate working. He must be capable of reading and working on simple drawing circuits and process, if necessary. (ELECTRICIN, MECHANIC, TAILORS, COOKS Comes in skilled category)

(C) Semi-skilled- Semi-skilled employee is one who has sufficient knowledge of the particular trade or above to do respective work and simple job with the help of simple tools and machines.( GATEKEEPER(CINEMA),ASST. OPERATOR, ASST ELECTRICIAN, BOOKBINDER
,WAITER OR BEARER, MALI WITH TECHNICAL EXPERIENCE comes in unskilled category)

(D) Un-skilled- Un-skilled employee is one who possesses no special training and whose work involves the performance of the simple duties which require the exercise of little or no independent judgment or previous experience although a familiarity with the occupational environment is necessary. (UNSKILLED: PEON, CHOWKIDAR, DURBAN, WATCHMAN, CLEANER, SWEEPER, LOADER, HELPER, MALI comes in unskilled category.)

CLERICAL AND SUPERVISIORY STAFF: BOOK CLERK, TYPIST, RECEPTIONIST, TELEPHONE OPERATOR, TRAVELLING SALESMAN, comes in this category.

Excel Formulas & VBA Code Human Resource (HR) India Payroll Others Payroll

Yours Salary Pay Slip! All about

Post author By
Post date August 12, 2015

Click here to download Salary Pay slip Format in Excel

A salary slip is a legal financial document that contains an itemized account of an employee’s salary or wage payment and the deductions occurred during the allotted time period. A salary slip is referred to as a slip because of the small size of the piece of paper. Each salary slip should consist of these itemized details: Basic payment, the employee’s gross pay, and income Tax, state taxes withheld insurance, Medicare and social security deductions, holiday, PF Deduction and sick time available, holiday pay, retirement plan contributions, wage garnishments and net pay.

Every company provides their employees with one. A salary slip is an essential tool for record keeping for both the employer and the employee.