TDS for Indian Payroll – An Introduction




Understand the basics of Income tax act applicable to Indian payroll processing within 90 mins.

What you will learn

Define the concepts related to the Income tax Act pertaining to salaried taxpayers

Describe the provisions of the Income tax Act related to computation, deduction and remittance of income tax of an organization.

Compute the Income tax due from employees based on their earnings

File returns on monthly and quarterly basis

Description

Payroll in India is a highly intricate and interesting function. It can roughly be divided into two parts as Processing the payroll and fulfilling payroll compliance requirements. Income tax is one of the major compliance requirements that the payroll department has to fulfil.

Like most other compliance requirements such as Provident fund and ESI, fulfilling compliance requirements for income tax consists of Computing and deducting the income tax, from the salary of employees and remitting the deducted tax to the income tax department along with the required information in the provided format, which is also referred to as ‘Filing returns.

This master course on TDS for Indian payroll, is targeted at providing information to learners about both of these aspects of income tax.

This part of the master course has placed a special emphasis on explaining the required terminology towards beginning so that it is easy for the learners to co-relate the same in the later part of the course.

By the end of this course, you would be able to:

Define the concepts related to the Income tax Act pertaining to salaried taxpayers.

Describe the provisions of the Income tax Act related to computation, deduction and remittance of income tax of an organization and filing the returns

Compute the Income tax due from employees based on their earnings

For further details into each of the sections mentioned in this part of the course, you may refer to the next part of this master course. ‘TDS for Indian payroll – For Professionals’.

We hope that this part of the master course, introduces you to the basics of income tax applicable to Indian payroll within maximum 90 minutes and helps to understand basic structure of the activities of a payroll department with regards to Income tax.

English
language

Content

Introduction
Introduction
Introduction
Concepts
Basic concepts – 1
Basic concepts
Basic concepts – 2
Quiz on Basic Concepts – 2
Basic concepts – 3
Quiz on Basic concepts – 3
Computation of Tax
Computation of Net Taxable Income
Quiz on Computation of Net Taxable income
Exemptions U/S 10
Quiz on Exemptions U/S 10
Deductions U/S 16
Quiz on Deductions under section 16
Income from Other sources
Quiz about Income from Other sources
Deductions under Chapter VI A – (Part 1)
Quiz on Chapter 6A deductions
Deductions under Chapter VI A – (Part 2)
Quiz about Chapter VI A
Computation of Tax dues – Introduction to Tax Regimes
Quiz about introduction to Tax Regimes
Computation of tax dues – Old Regime
Quiz on the Old regime
Computation of tax dues – New Regime
Quiz on computation of tax dues – New Regime
Filing Returns
Filing Returns
Quiz – Filing returns
Summary
Summary

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