Jul 012021
 

Due dates for the Month of July 2021
7th
INCOME TAX
– TDS Payment for June.
10th
GST
– Return of authorities deducting tax at source – GSTR 7 for June.
– Details of supplies effected through e-commerce operator and the amount of tax collected – GSTR 8 for June.
11th
GST
– Details of outward supplies of taxable goods and/or services effected – GSTR 1 for June.
13th
GST
– QuarterlyReturn GSTR 1 for April to June 2021 turnover not exceeding Rs. 1.5 Crore.
– Return for Input Service Distributor – GSTR 6 for June.
15th
Providend Fund
– PF Payment for June.
ESIC
– ESIC Payment for June.
20th
GST
– Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of the amount of tax – GSTR 3B for June.
– Return for Non-Resident foreign taxable person – GSTR 5 for June.
22nd
GST
– GSTR 3B for June if turnover below Rs. 5 Crore for Gujrat, Madhya Pradesh, Chattisgarh, Maharashtra, Telangana. Andhra Pradesh, Karnataka, Goa, Kerala, Tamil Nadu, Puducherry, Dadra & Nagar Haveli.
24th
GST
– GSTR 3B for June if turnover below Rs. 5 Crore for the Rest of India.
28th
GST
– Details of Inward Supplies to be furnished by a person having UIN and claiming refund – GSR 11 for June
.
31st
PROF. TAX
– Monthly Return for Tax Liability of Rs. 100,000 & above.
INCOME TAX
– TDS / TCS Quarterly Statement (Other than Government Deductor) for April to June
–Due date of Return of income for non audit cases for AY 2021-22.
Sensys Technologies Pvt. Ltd.
HO: 904, 905 & 906, Corporate Annexe, Sonawala Road, Goregaon East, Mumbai- 400 063.
Tel.: 022-6820 6100| Call: 09769468105 / 09867307971
Email: sales@sensysindia.com | Website: http://www.sensysindia.com
Branches: Delhi & NCR | Pune | Bangalore | Hyderabad | Ahmedabad | Chennai | Kolkata
Visit our BLOG for the latest news and updates related to XBRL, Income Tax, HR & Payroll, PF / ESIC / TDS / PT, etc. Click here to visit Sensys BLOG
Jun 042021
 

Due dates for the Month of June 2021
7th
INCOME TAX
– TDS Payment for May.
10th
GST
– Return of authorities deducting tax at source – GSTR 7 for May.
– Details of supplies effected through e-commerce operator and the amount of tax collected – GSTR 8 for May.
11th
GST
– Details of outward supplies of taxable goods and/or services effected – GSTR 1 for May.
13th
GST
– Return for Input Service Distributor – GSTR 6 for May.
15th
Providend Fund
– PF Payment for May.
ESIC
– ESIC Payment for May.
20th
GST
– Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of the amount of tax – GSTR 3B for May.
– Return for Non-Resident foreign taxable person – GSTR 5 for May.
22nd
GST
– GSTR 3B for May if turnover below Rs. 5 Crore for Gujrat, Madhya Pradesh, Chattisgarh, Maharashtra, Telangana. Andhra Pradesh, Karnataka, Goa, Kerala, Tamil Nadu, Puducherry, Dadra & Nagar Haveli.
24th
GST
– GSTR 3B for May if turnover below Rs. 5 Crore for the Rest of India.
28th
GST
– Details of Inward Supplies to be furnished by a person having UIN and claiming refund – GSR 11 for May
.
30th
PROF. TAX
– Monthly Return for Tax Liability of Rs. 100,000 & above.
INCOME TAX
– TDS Quarterly Statements (Other than Government Deductor) for January to March
Sensys Technologies Pvt. Ltd.
HO: 904, 905 & 906, Corporate Annexe, Sonawala Road, Goregaon East, Mumbai- 400 063.
Tel.: 022-6820 6100| Call: 09769468105 / 09867307971
Email: sales@sensysindia.com | Website: http://www.sensysindia.com
Branches: Delhi & NCR | Pune | Bangalore | Hyderabad | Ahmedabad | Chennai | Kolkata
Visit our BLOG for the latest news and updates related to XBRL, Income Tax, HR & Payroll, PF / ESIC / TDS / PT, etc. Click here to visit Sensys BLOG
May 072021
 

Due dates for the Month of May 2021
7th
INCOME TAX
– TDS Payment for April.
10th
GST
– Return of authorities deducting tax at source – GSTR 7 for April.
– Details of supplies effected through e-commerce operator and the amount of tax collected – GSTR 8 for April.
11th
GST
– Details of outward supplies of taxable goods and/or services effected – GSTR 1 for April.
13th
GST
– Return for Input Service Distributor – GSTR 6 for April.
15th
Providend Fund
– PF Payment for April.
ESIC
– ESIC Payment for April.
20th
GST
– Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of the amount of tax – GSTR 3B for April.
– Return for Non-Resident foreign taxable person – GSTR 5 for April.
22nd
GST
– GSTR 3B for April if turnover below Rs. 5 Crore for Gujrat, Madhya Pradesh, Chattisgarh, Maharashtra, Telangana. Andhra Pradesh, Karnataka, Goa, Kerala, Tamil Nadu, Puducherry, Dadra & Nagar Haveli.
24th
GST
– GSTR 3B for April if turnover below Rs. 5 Crore for the Rest of India.
28th
GST
– Details of Inward Supplies to be furnished by a person having UIN and claiming refund – GSR 11 for
April.
30th
LLP
– Form 11 – Annual Return for Previous Financial Year.
31st
PROF. TAX
– Monthly Return for Tax Liability of Rs. 100,000 & above.
Sensys Technologies Pvt. Ltd.
HO: 904, 905 & 906, Corporate Annexe, Sonawala Road, Goregaon East, Mumbai- 400 063.
Tel.: 022-6820 6100| Call: 09769468105 / 09867307971
Email: sales@sensysindia.com | Website: http://www.sensysindia.com
Branches: Delhi & NCR | Pune | Bangalore | Hyderabad | Ahmedabad | Chennai | Kolkata
Visit our BLOG for the latest news and updates related to XBRL, Income Tax, HR & Payroll, PF / ESIC / TDS / PT, etc. Click here to visit Sensys BLOG
Apr 012021
 

Due dates for the Month of April 2021
10th
GST
– Return for authorities deducting tax at source – GSTR 7 for February
– Details of supplies effected through e-commerce operator and the amount of tax collected –
GSTR 8 for March.
11th
GST
– Details of outward supplies of taxable goods and/or services effected – GSTR 1 for March.
13th
GST
– Return for Input Service Distributor – GSTR 6 for March
– Quarterly Return GSTR 1 for January to March 2021 turnover not exceeding Rs. 1.5 crore
15th
Providend Fund
– PF Payment for March
ESIC
– ESIC Payment for March
18th
GST
– Return for composition taxable person- GSTR 4 for January to March
20th
GST
– Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of the amount of tax – GSTR 3B for March
– Return for Non-Resident foreign taxable person – GSTR 5 for March
22nd
GST
– GSTR 3B for February if turnover below Rs. 5 Crore for Gujrat, Madhya Pradesh, Chattisgarh, Maharashtra, Telangana. Andhra Pradesh, Karnataka, Goa, Kerala, Tamil Nadu, Puducherry, Dadra & Nagar Haveli
24th
GST
– GSTR 3B for March if turnover below Rs. 5 Crore for the Rest of India.
28th
GST
– Details of Inward Supplies to be furnished by a person having UIN and claiming refund – GSR 11 for
March.
30th
Income Tax

– TDS deduction for the month of March

Profession Tax
– Monthly Return for Tax Liability of Rs. 100,000 & above

Sensys Technologies Pvt. Ltd.
HO: 904, 905 & 906, Corporate Annexe, Sonawala Road, Goregaon East, Mumbai- 400 063.
Tel.: 022-6820 6100| Call: 09769468105 / 09867307971
Email: sales@sensysindia.com | Website: http://www.sensysindia.com
Branches: Delhi & NCR | Pune | Bangalore | Hyderabad | Ahmedabad | Chennai | Kolkata
Visit our BLOG for the latest news and updates related to XBRL, Income Tax, HR & Payroll, PF / ESIC / TDS / PT, etc. Click here to visit Sensys BLOG
Mar 102021
 

The draft of the Code on Wages Karnataka Rules, 2021 which The government of Karnataka proposes to make in the exercise of the powers conferred by section 67 of the Code on Wages, 2019 (Central Act No. 29 of 2019) is hereby published as required by sub-section (1) of said section, for the information of all the persons likely to be affected thereby and notice is hereby given that the said draft will be taken into consideration after thirty days from the date of its publication in the Official Gazette.

Any objection or suggestion, which may be received by the State Government from any person with respect to the said draft before the expiry of the period specified above will be considered by the State Government. Objections and suggestions may be addressed to the Additional Chief Secretary to Government, Department of Labour, Room No 414, Fourth Floor, Vikasa Soudha, Bengaluru.
COURTESY: PRAKASH CONSULTANCY SERVICE
Mar 092021
 

Facts in essence:
For the assessment year under consideration, the assessee filed his return of income on 27th September 2011, declaring a total income of Rs. 75,73,399 wherein an amount of Rs. 18,455, under the head “Income From House Property” is included and has shown rent received of Rs. 30,000.
Details of the property let out and rent received as furnished by the assessee: Vide letter dated 12th December 2013, the assessee furnished the details and submitted that he along with his father and brother is a co-owner of the flat. It was submitted that a part of the flat was given on rent to a partnership firm, wherein, his father is a partner. Thus, he and his brother both receive the rent of Rs 30,000/- each.
Also, the annual value of the said property has been fixed by the Municipal Authority at Rs. 79,380. Thus, ALV determined by the Municipal Authority could be adopted for determining the income.

Analysis of facts:
When the assessee had furnished a valuation from the Municipal Authorities determining the ALV at Rs. 79,380, the same could not have been rejected without valid and cogent reasoning. Thus, in the absence of any inquiry by the department as to actual market rent of the assessee property, rejecting the Municipal valuation and referring ALV of some other property (which are commercial property let out to the bank and other commercial establishments) or some other estimated rent is un-justice to the assessee.

What is annual letting value:
Reasonable expected rent is deemed to be the sum for which the property might reasonably be expected to be let out from year to year for which the following factors are taken into consideration:
✓   Location of the property
✓   Annual rentable value of the property fixed by municipalities
✓   Rents of the properties in the neighborhood
✓   The rent which the property is likely to fetch having regard to demand and supply
✓   Cost of construction of the property
✓   Nature and history of the property

The fair rent of the property can be determined on the basis of a rent fetched by a similar property in the same or similar locality. Fair rent is based on some scientific basis and is not the estimated rent or an arbitrary rental value. Also, for collecting municipal taxes, local authorities make a periodical survey of all buildings in their locality in their jurisdiction. Such valuation may be taken as a piece of strong evidence representing the earning capacity of a building. However, it can’t be considered to be conclusive evidence in all cases.

Moreover, in metro cities, municipal authorities determine net rateable value after deducting 10 percent of the gross rateable value, on account of repairs and an allowance for service taxes. The net municipal valuation thus arrived at, requires a fair adjustment for determining reasonable expected rent for income tax purposes. However, such valuation can’t be rejected without valid and cogent reasoning.

Conclusion:
When the assessee had furnished a valuation from the Municipal Authorities determining the ALV at Rs. 79,380, the same could not have been rejected without valid and cogent reasoning. In view of the
aforesaid, AO has to accept the assessee’s claim that the ALV of the property has to be determined at Rs. 79,380, as per the valuation of Municipal Authorities and thereafter assessee’s share shall be determined for addition under the head income from house property.

Mar 012021
 

Due dates for the Month of March 2021
7th
Income Tax
– TDS Payment for February
10th
GST
– Return for authorities deducting tax at source – GSTR 7 for February
– Details of supplies effected through e-commerce operator and the amount of tax collected –
GSTR 8 for February
11th
GST
– Details of outward supplies of taxable goods and/or services effected – GSTR 1 for February
13th
GST
– Return for Input Service Distributor – GSTR 6 for February
15th
Providend Fund
– PF Payment for February
ESIC
– ESIC Payment for February
Income Tax
– Advance Income Tax – Final Installment for All Assessees
20th
GST
– Monthly return on the basis of finalization of details of outward supplies and inward supplies along with the payment of the amount of tax – GSTR 3B for February
– Return for Non-Resident foreign taxable person – GSTR 5 for February
22nd
GST
– GSTR 3B for February if turnover below Rs. 5 Crore for Gujrat, Madhya Pradesh, Chattisgarh, Maharashtra, Telangana. Andhra Pradesh, Karnataka, Goa, Kerala, Tamil Nadu, Puducherry, Dadra & Nagar Haveli
24th
GST
– GSTR 3B for February if turnover below Rs. 5 Crore for the Rest of India.
28th
GST
– Details of Inward Supplies to be furnished by a person having UIN and claiming refund – GSR 11 for
February.
31st
Income Tax

– TDS / TCS Quarterly Statement (Other than Government Deductor) for October to December 2020
– Payment of Taxes for a declaration under Vivad se Vishwas Scheme made by 31st December 2020

Profession Tax
– Annual Return for Financial Year March 2020 to February 2021
– Profession Tax (Enrollment) Payment for FY 2020-21
– Monthly Return for Tax Lability of Rs. 100,000 & above

Sensys Technologies Pvt. Ltd.
HO: 904, 905 & 906, Corporate Annexe, Sonawala Road, Goregaon East, Mumbai- 400 063.
Tel.: 022-6820 6100| Call: 09769468105 / 09867307971
Email: sales@sensysindia.com | Website: http://www.sensysindia.com
Branches: Delhi & NCR | Pune | Bangalore | Hyderabad | Ahmedabad | Chennai | Kolkata
Visit our BLOG for the latest news and updates related to XBRL, Income Tax, HR & Payroll, PF / ESIC / TDS / PT, etc. Click here to visit Sensys BLOG
Apr 012014
 

Running a successful business has always been an extremely challenging task and there are many things that you need to take into serious consideration. We, at Sensys Technologies, are aware that not everyone has what it takes to have complete control over all the aspects that make a business successful, and that is especially true for small and medium businesses. So, we’ve decided to invest our time and experience in creating the best payroll management software on the market. The result of our efforts is called EasyPAY.Web – Web based Payroll Management Software.

EasyPAY.Web is a completely web-based hr payroll software that takes care of the HR records of every employee that works for you. What this means is that you will always know exactly how much you are supposed to pay your employees. Additionally, you will have more time to dedicate yourself to growing your business’ capacity and getting the attention of many potential customers.

So, it’s safe to say that when it comes to managing the payroll, you always need to know where you stand with all the salaries, bank transfers, reimbursements and other statutory payments that you make. Thankfully, EasyPAY.Web’s user-friendly interface serves as a guarantee that you will get all the reports you need with just a few clicks, giving you the time you need to focus on all the areas that need immediate improvement.

Our company, Sensys Technologies, is very proud of the fact that it is considered the number one choice of countless small and medium businesses. Thanks to our payroll software team, we have witnessed the birth and growth of many corporations and companies, and we will not stop until we make sure that everyone in India makes the most of EasyPAY.Web a payroll software we are proud to call our own.

Mar 182014
 

Benefits of Payroll Software as a Service (SaaS)

With payroll software service you can keep yourself totally untroubled of the entire payroll process from start to finish. The service is available 24×7 and you are free to decide when, how and how often to run the payroll.

Payroll software as a service emerged as a need to simplify the payroll manager’s job. It completely takes care of paying your staff accurately on time and keeping your organisation compliant with current payroll legislation. The software assists the payroll department in managing the process more efficiently thus reducing the administration effort and time consumed.

Using payroll software as a service aids in a way as new enhancements and functionalities are added periodically. Changes in legislation are incorporated so as to make sure that your organisation makes the best use of its payroll software. You can have free updates to your payroll software on a regular basis. Regular and free updates to payroll tax tables. You no longer need to run nightly / weekly backups to protect your data.

It is more affordable and eases off the burden that one encounters in traditional payroll services. Apart from providing the same features of a traditional payroll service at a lesser value, SaaS payroll services facilitates a convenient way of entering payroll that saves time.

Now you can process payroll with 100% accuracy, control and flexibility. Below are some benefits of opting for SaaS payroll services are as follows:

•    The payroll software takes care of payroll deductions, payroll calculations and tax calculations thus omitting the chances of error as in case of manual calculations.
•    The software gathers employee data like the leaves, arrears, reimbursements, advances and loans that are essential in order to generate payroll for the staff on punctually.
•    The automated payroll helps an organization by saving time and resources and effectively delivering the services.  The personnel involved in the payroll process can be utilized for other meaningful tasks while the payroll software handles the task of the former.
•    All it takes is a click to quickly view any reports; the reports are designed in such a way that every minute detail is recorded for stress free reference at any point of time.
•    All the data is easily available at one place by way of automated payroll services and the payroll thus maintained is assured to be error free.
•    Goals like verifications and clarifications with respect to pay, deductions and other payroll information are more easily achievable.
•    A SaaS brings credibility and integrity within an organization as the process is transformed into a more efficient, reliable, quick and systematic one.
•    Costs associated with hardware and software maintenance are saved and it wipes out the need to install any software on your local PC.

Surely it is time to revamp your payroll system with the software service that comes with so many advantages. It definitely makes sense to opt for something that is easier, beneficial and more advanced.

Oct 122012
 

A Window to Online Payroll  Management

Payroll Software as a Service is an Online Solutions that takes care of all your HR Mechanism which covers employee Management, Payroll Processing, Employee Self Service, Online Leave Application, Recruitment, Performance Management etc.  You can have instant access to payroll system 24/7 from anywhere, any time via internet as far as Software as a Service (SaaS) concept is concern. If you are planning to hire payroll functions, but wish to retain control over the payroll in-house, then Payroll Software as a service is the perfect solution to meet your exact requirements.

Online Payroll Software as a Service which reduces overhead and increases efficiency for complete payroll management to individuals, Payroll Consultants & all small, medium and large business enterprises.  Online Payroll Software as a Service is an instrumental catalyst and adds a fuel to the growth of companies for easy administration related to accounting and management of employee’s payroll.

Advantages of Payroll Software as a Services (SaaS):

  1. No Huge upfront cost. Pay on monthly basis.
  2. No software or hardware to purchase, install or maintain.
  3. Free from worries of Data backup, viruses etc.
  4. Available 24 by 7.
  5. Reduces Employees queries & paper works to 90%.
  6. A more convenient and far less time-consuming method for an access to payroll.
  7. Automatically takes care of the updates related to statutory and legal compliance.
  8. It’s safe, secure, and guaranteed to be accurate.
  9. Focuses on core competency & drags your attention on the core business functions of the company giving you 100% peace of mind.

In Online Payroll Software as a Service, HR Professionals can use click-buttons to generate pay-slip, bank statements, statutory reports of PF, ESI and income tax reports.