Income Tax Rebate Under Section 87A An income tax rebate can simply be understood as a form of refund on taxes that you receive from the Income Tax Department under certain circumstances. An individual is liable to receive a tax rebate in the event that he or she pays more taxes in a financial year [...]
Budget 2018 introduced the provision of standard deduction for both salaried employees and pensioners. It refers to a flat deduction of Rs. 50,000 (previously Rs. 40,000 for FY 2018-19) on taxable income, providing tax relief to select group of individuals.Standard Deduction has been introduced to bring parity between salaried employees and self-employed individuals. While self-employed [...]
This help document describes how to configure the Clinic Attendance software to analyze Clinic usage Step 1: Add Clinic Devices Step 2: Analyze Clinic Usage Step 3: Zoom in to the details Step 4: Employee wise Clinic Usage Summary Step 5: [...]
This help document describes how to configure the Canteen Management software to analyse canteen usage and cost. Step 1: Add Canteen Devices How to add devices and how the devices work together with the software is explained in another video. I've three canteens in my company with each having [...]
The new Budget for the financial year 2020-21 introduced a new income tax regime for individual taxpayers. However, the new tax regime requires the individual taxpayer to renounce certain specified deductions. In the old tax regime, the taxpayers benefitted from several tax exemptions and deductions including tax deductions on health insurance and Equity linked savings [...]
What is Form 16 Form 16 is a document or certificate, issued as per the Section 203 – Income-Tax Act 1961, to salaried professionals in India by their respective employers. Also, referred to as a “salary certificate”, it contains the entire details regarding the salary given by the organization or [...]
Deductions under Chapter VI A of Income Tax Act Chapter VI A of Income Tax Act contains various sub-sections of section 80 that allows an assessee to claim deductions from the gross total income on account of various tax-saving investments, permitted expenditures, donations etc. Such deductions allow an assessee to [...]
Salary Card let's you assign an employee to a Salary Group, and define the individual values for the employee. Salary Card let's you assign an employee to a Salary Group, and define the individual values for the employee. You should have the Salary Groups ready before [...]
Bonus is usually paid to employees yearly or half-yearly. Lenvica HRMS makes it extremely easy to calculate Bonus for all your employees in a few clicks. This help document describes how you can calculate bonus for your employees. My company pays out Bonus at the end of the year [...]
You should close a Salary Period before you can open a new one. Only one Salary period can be open at a time. Closing the Salary periods ensures that the data in the period is kept intact from accidental changes. When salary is processed for all employees, and payslips are [...]
