Your employer is responsible to deduct income tax from your salary. The income tax calculation is affected by factors such as: income other than salary, house rent, investment in certain funds, housing loan interest, and so on. In the beginning of a financial year, you have to make declarations to the employer on, what investments [...]
Process TDS for all your employees in just a few clicks. This document describes how you can do that. Step 1 : Employee Investment Declarations Step 2 : Manage investment declarations Step 3 : Process TDS for all employees Step 4 : Compute TDS [...]
Appraisal, in the context of HR, refers to the process of evaluating and assessing an employee's performance, skills, and achievements within an organization. It is a formal and structured review conducted periodically to provide feedback, set goals, and make decisions regarding promotions, salary adjustments, training needs, and career development. [...]
Income tax on employment income For tax purposes, an employee is defined as an individual engaged to perform services under the direction and control of another person. This engagement can take place on either a permanent or temporary basis. The definition does not include independent contractors but does cover directors, other office holders [...]
Individuals, whether resident or non-resident in Jordan, are taxed based on income earned in the kingdom from all taxable activities, including income from employment, business (either as sole proprietors or as partners), rental income, and directors’ fees. The rates of tax on the annual taxable income of individuals are progressive and range from 5% to 30%. An additional 1% national contribution tax applies for individuals on income exceeding JOD 200,000.
The General Organization for Social Insurance (GOSI) is a Saudi Arabian government agency concerned with social insurance in the country. GOSI is supervised by a board of eleven directors from government departments, employers, and insured persons. GOSI enjoys administrative and financial independence. fourteen-member Board of Directors, supervises GOSI.
Individuals are considered a resident for taxation purposes if they are present in Egypt for more than 183 days in a fiscal year; are deemed to have a permanent abode in Egypt; or are Egyptian nationals performing their work in a foreign country but being paid from an Egyptian source. Non-residents are subject to tax on income earned or realized in Egypt only, at the same rates as residents. Residents are taxed on their worldwide income if their center of commercial, industrial, or professional activities is in Egypt.
Personal income tax (PIT) is levied on wages and salaries at progressive rates. The brackets for the progressive payroll tax rates became between 2% and 25%, instead of between 2% and 20%, as per Article 23 of Budget Law 2019, which amended Article 58 of the Income Tax Law.
Section 80E of the Income Tax allows deduction from taxable income in respect of interest on loan taken for higher education. Let's find out how you can save tax with your Education Loan. As per section 80E, the interest on education loan can be claimed as a deduction with no upper [...]
The Compensation Fund provides compensation for workers who get hurt at work, or sick from diseases contracted at work, or for death as a result of these injuries or diseases. This Workmen’s compensation is a compulsory form of insurance providing wage replacement and medical benefits to employees injured in the course of their employment.
