Hi Everyone,
Greetings of the Day!
This is Kritika Rawat, HR Executive at xxx Solutions Pvt. Ltd. (working for the last 3 months). I am seeking knowledge on the procedure of Tax Deduction, including Income Tax filing, paying taxes to the Government, Form 16, and Tax Returns.
My questions are as follows:
1. How do we start the process? (We have a TAN number.)
2. How do we pay employees' taxes to the Government?
3. What is the format of Form 16? When should we provide it to employees, and does it require any government stamp?
4. How do we fill in the Income Tax Return?
If you could provide me with a brief practical understanding of the above topics, it would facilitate my efforts in implementing them in my company.
Thanks in Anticipation,
Kritika Rawat
From India, Hyderabad
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Greetings of the Day!
This is Kritika Rawat, HR Executive at xxx Solutions Pvt. Ltd. (working for the last 3 months). I am seeking knowledge on the procedure of Tax Deduction, including Income Tax filing, paying taxes to the Government, Form 16, and Tax Returns.
My questions are as follows:
1. How do we start the process? (We have a TAN number.)
2. How do we pay employees' taxes to the Government?
3. What is the format of Form 16? When should we provide it to employees, and does it require any government stamp?
4. How do we fill in the Income Tax Return?
If you could provide me with a brief practical understanding of the above topics, it would facilitate my efforts in implementing them in my company.
Thanks in Anticipation,
Kritika Rawat
From India, Hyderabad
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Hi, Krithika,
TDS and anything related to income tax are handled by the Finance/Accounts department. If you still have to deduct, how will you calculate and deduct? Do you know the entire calculations of TDS? Any assistance you need, you can reach me.
From India, Bangalore
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727TDS and anything related to income tax are handled by the Finance/Accounts department. If you still have to deduct, how will you calculate and deduct? Do you know the entire calculations of TDS? Any assistance you need, you can reach me.
From India, Bangalore
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Hello Krithika, you should purchase the book "The Essentials of Payroll Management." It is a very helpful handbook for payroll processing and fulfills all payroll processing steps. I am sending a link where you can purchase the book: http://www.iptm.org.in/
From India, Delhi
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From India, Delhi
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Thank you for your kind reply.
@JEEVARATHNAM Hi, sir. Actually, for now, I am taking care of Accounts work for my company, so I know how to deduct tax from employees' salary, but I do not know how and when to give TDS certificates to employees. When and how can employees file returns with the Income Tax Department?
@VMAURYA Thank you so much for suggesting the book; I will buy it to help me with payroll management.
From India, Hyderabad
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@JEEVARATHNAM Hi, sir. Actually, for now, I am taking care of Accounts work for my company, so I know how to deduct tax from employees' salary, but I do not know how and when to give TDS certificates to employees. When and how can employees file returns with the Income Tax Department?
@VMAURYA Thank you so much for suggesting the book; I will buy it to help me with payroll management.
From India, Hyderabad
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Dear Friend , TDS is not fall under HR .It is separate subject . Mainly Finance & Accts Dept. who are qualified and experienced under TAXATION subject , they take care . Regards
From India, Mumbai
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From India, Mumbai
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Hi Krithika If you want to receive the TDS certificates you have to submit the periodical TDS returns after deducting the TDS & remitting to the Income Tax Department.
From India, Bangalore
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From India, Bangalore
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