House Rent allowance is a Part of Salary structure and used is used by companies as well as employees for Tax relief. Release 3 of Tally.erp 9 now offers Income Tax in Salary and all returns related to Employees Taxation is taken care by the Tally.erp 9. Each Salary components requires a proper set up to avail the benefit of Income Tax in Salary. Learn here how to configure House Rent Allowance in Tally.
Learn how to bifurcate Gross Salary in Tally.erp 9 for payroll processing based on % of others heads which consist Salary Structure. Release 3 of Tally.erp 9 now provides Income Tax on Salary, Form No. 16, TDS certificate and IT Return for your employees. You need to renew your TNS to avail the benefits of Release 3
Professional tax is known as a tax on employment and a tax on business.it is a state levied tax so you must know the applicable slab and rules of your state where your business is registered.