An employee database management system significantly enhances business operations by centralizing and organizing crucial employee information efficiently. With an employee DBMS in place, businesses can easily store, update, and access employee data such as personal details, job roles, performance metrics, and training records in a secure and structured manner. This centralized repository...
An efficient system of leave management, operated by using nowadays’ leave management software tools, is one of the most efficient levers to enhance employee productivity with several key mechanisms. Firstly, the software lays out the platform for employees to apply and handle their leaves, streamlining the process, resulting in fewer admin tasks and delayed approvals. Such a measure keeps the...
Small businesses tend to benefit more from automation of payroll through payroll software than manual payroll systems in the case of payroll processes. Though the manual payroll system may seem cost-leaning (conservative), however, it is more prone to errors and time consuming especially, when the business grows. The utilization of handwork may be labour intensive, increases compliance error...
Major mistakes with manual attendance tracking are a result of human forgetfulness and the general weakness of handbook operations. Manual counting has immense scope for errors as one can easily misread handwriting, record an incorrect time or even can skipENTRY in and OUT. The mistakes will bring issues with payroll calculation accuracy, wrongly counted hours, and possibly the non-compliance...
Applicability of ITR forms – not changed:
Specific Income Tax Return (ITR) forms are applicable to specific source of income relating to specified assesee. The CBDT did not changed such applicability. Thus, the applicability of ITR forms to different taxpayers remains unchanged in the new versions of ITR forms. Thus, the source of income and taxpayers on which different ITR forms are...
What is Director identification number (DIN)?
Director identification number (DIN) is a unique identification number allotted to a person wanting to be a director of a company. To obtain DIN, the concerned person needs to make an application in e-form DIR-3.
Facts of the case:
M/s. SVPL is a registered company having its registered office in the state of Bihar. The company has three directors...
The Ministry of Finance in India recently issued a crucial update that impacts millions of taxpayers and businesses. On April 23, 2024, the Central Board of Direct Taxes (CBDT) released Circular No. 6/2024, which partially modifies the earlier Circular No. 3/2023. This update addresses the consequences of a Permanent Account Number (PAN) becoming inoperative under the Income-tax Rules, 1962,...
07th
TDS
Payment for April 2024.
10th
GST
Return for authorities deducting tax at source – GSTR 7 for April 2024.
Details of supplies effected through the e-commerce operator and the amount of tax collected-GSTR 8 for April 2024.
11th
GST
Details of outward supplies of taxable goods and/or services effected – GSTR 1 for April 2024.
13th
GST
Invoice Furnishing...
Practical strategies for managing an employee database are crucial for maintaining the accuracy, security, and accessibility of personnel information. Utilizing employee database management software is at the core of these strategies. This software facilitates the organization and retrieval of employee records quickly and efficiently. It...