In the Income Tax Act, what is employee audit? How do I prepare an employee audit questionnaire in income tax? What allowances are fully taxable? Can you help me differentiate between employee and employer tax deductions in income tax sections? What are the ceiling limits for employers and employees in sections 80C to 80U?
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From India, Bangalore
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Please note that there should be a single line break between each paragraph for better readability.
From India, Bangalore
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Dear Divya,
Your question is not very clear. There is no specific requirement for employee audit in the Income Tax Act. Could you please share the relevant section under which this query is arising?
Moving on to the second part of your question, it has a detailed answer. As a trainer in salary-related income tax aspects, I can tell you that it covers more than 50 heads.
I would suggest checking the Income Tax Ready Reckoner by a reputable author like Mr. Vinod Singhania. It provides details for each section-wise and head-wise allowance and its taxation impact.
If any queries remain, please feel free to post them. I would be happy to reply.
Pankaj
CA
From India, New Delhi
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4Your question is not very clear. There is no specific requirement for employee audit in the Income Tax Act. Could you please share the relevant section under which this query is arising?
Moving on to the second part of your question, it has a detailed answer. As a trainer in salary-related income tax aspects, I can tell you that it covers more than 50 heads.
I would suggest checking the Income Tax Ready Reckoner by a reputable author like Mr. Vinod Singhania. It provides details for each section-wise and head-wise allowance and its taxation impact.
If any queries remain, please feel free to post them. I would be happy to reply.
Pankaj
CA
From India, New Delhi
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Generally, Payroll Audit takes place at the time of Statutory Audit, and there is no specific requirement in Income Tax. However, you can do one thing in your payroll software - it can provide you with the payroll audited report, but you need to update the field of the current income tax slabs. Some companies also provide updates in the payroll software as per the current budget or financial year changes. Referring to the Ready Reckoner, you will find everything you need.
Sanjay
From India, Mumbai
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Sanjay
From India, Mumbai
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Dear All, Here you’ll find attached a notes on Tax planning for 2012-13 and 13-14, use them, share them with your ideas as well. Regards, kumar.s.
From India, Bangalore
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From India, Bangalore
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