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Mar 23

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Global Payroll (Ind) Year-End Reports

At the end of the fiscal year, user has to generate certain statutory reports. Data needs to be setup in the system for the same purpose. Setup data for statutory reports is a critical part and the user has to ensure that the data setup for the report is done correctly. Below is a brief from my knowledgebase and that is for India (IND) country extension, application release HRMS 8.9.

Following are the setups that the user has to do:

a) Form 5 Data Setup
b) Form 6 Data Setup
c) Form 12BA Data Setup
d) Form 24 and 16 Data Setup
e) Form 24Q setup

Form 5

At the end of the fiscal year Professional Tax Remittance Details has to be given to the government in the form 5. To generate the form 5 certain details are to be setup in the system. Navigation below.

Global Payroll & Absence Mgmt > Year-End Processing > Define Form 5 Data IND

Data needs to setup:

Total Tax Paid for the Year: This is the amount payable as total Professional Tax for the year for all the employees of that Establishment.

Tax Paid: This is the PT paid till date by all the employees.
Balance Tax Payable: This is Balance PT that is yet to be deducted.
Tax Paid Under Challan: This is the Amount of PT paid under Challan.
Month: Select the individual month in this column.
Tax Deducted: Enter the amount deducted as PT for that particular month for all the employees of that establishment.

TDS Form 24 and Form 16

Form 24 reports the Income Tax details for each employee and is to be handed over to the employee at the end of each financial year.

There are two steps in TDS Form 16 generation

1. Define Form 24 and 16 Data
2. Create Form 24 Report
3. Create Form 16 Report

Define Form 24 and 16 Data

Before generating Form 24 and 16, the TDS remittance details should be entered using the following page. The information provided in this page will be used for Form 24 and 16 reporting.

Navigation: Global Payroll> Year End Processing> Define Form 24 and 16 Data


Period ID: Enter the Period ID for the period on which you want to enter the details.
Amount Deducted: Enter the TDS amount remitted for the period.
Voucher Number: Enter the remittance voucher number.
Voucher Date: Enter the remittance voucher date.
Bank ID and Branch ID: Select the Bank ID and Bank Branch ID for the bank branch from which the monthly remittance was transferred to the central government account. The Description displays once Bank ID and Bank Branch ID are selected.

Create Form 16 Report

Navigation: Global Payroll> Year End Processing> Create Year End Reports IND

Create Form 24 Report

Navigation: Global Payroll> Year End Processing> Create Year End Reports IND

Reports shares a common screen to run from.

TDS Form 12BA

Form 12BA reports the perquisite details for each employee for the financial year.

There are two steps in TDS Form 12BA generation

1. Define Form 12BA Data
2. Create Form 12BA Report

Define Form 12BA Data

Before generating Form 12BA, the Perquisite details can be modified for each payee based on the declarations and actual payments using the following page. The information provided in this page will be used for Form 12BA reporting.

Navigation: Global Payroll> Year End Processing> Define Form 12BA Data

Amount Paid: Enter the amount of the perquisite paid to the employee

Create Form 12BA Report

Navigation: Global Payroll> Year End Processing> Create Year End Reports IND

Common runcontrol page looks like below for most of the reports.

Report Name, Period ID, Payee Sort Option (option in which the entries are to be sorted)

As always…any comments/suggestions are welcome…

Permanent link to this article: http://alokbhardwaj.com/oracle-peoplesoft/2009/03/23/global-payroll-ind-year-end-reports/

3 comments

  1. Aditi

    So, i jus wanted to ask , that if we define the 24/16 data under a PAN/TAN/period id combination for a group of employee (paygroup) or a single employee..the next form 16 generation (following the data set-up) will generate a report for the corresponding set of employees/employee??

  2. Mark

    hai

    this is very good it use all and very nice and excellent

  3. Alok.Bhardwaj

    Thanks Mark…

    Hi Aditi, yes, the next form 16 generation will generate a report for the corresponding set of employees/employee

    And regret for the later reply… was away for quite a time from online stuff…

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