Payroll and Income Tax

4.1 Introduction
4.2 Payroll in TallyPrime

• 4.2.1 Creation of Company and Activating Payroll
• 4.2.2 Introducing Capital into the Business

4.3 Creation of Payroll Masters in TallyPrime

• 4.3.1 Employee Masters
  • 4.3.1.1 Employee Categories
  • 4.3.1.2 Employee Group Master
  • 4.3.1.3 Employee Master
• 4.3.2 Creation of Units (Work)
• 4.3.3 Attendance/Production Types
  • 4.3.3.1 Attendance Type Creation
  • 4.3.3.2 Employees Paid Leaves
• 4.3.4 Pay Heads in TallyPrime
  • 4.3.4.1 Understanding Pay Head Types of TallyPrime
  • 4.3.4.2 Understanding Pay Head Calculation Types in TallyPrime
  • 4.3.4.3 Understanding Methods of Computation
• 4.3.5 Creation of Primary Pay Heads
  • 4.3.5.1 Basic Pay
  • 4.3.5.2 House Rent Allowance
  • 4.3.5.3 Conveyance
  • 4.3.5.4 Overtime
  • 4.3.5.5 Canteen Deduction
• 4.3.6 Creation of Statutory Pay Heads
  • 4.3.6.1 Provident Fund
  • 4.3.6.2 Creation of Employer’s Other Charges Pay Heads for Provident Fund
  • 4.3.6.3 Employees State Insurance
  • 4.3.6.4 Professional Tax
  • 4.3.6.5 Gratuity
  • 4.3.6.6 Income Tax
• 4.3.7 Defining Salary Details
  • 4.3.7.1 Defining Salary Details for an Employee
  • 4.3.7.2 Defining Salary Details for an Employee Group
  • 4.3.7.3 Cascading Salary Details from Employee Group to Employee Master
• 4.3.8 Income Tax Master Configuration
  • 4.3.8.1 Income Tax Pay Head Details
  • 4.3.8.2 Income Tax Declarations
  • 4.3.8.3 Income Tax Exempt
  • 4.3.8.4 Income Tax Amount
  • 4.3.8.5 Payroll Income Tax Configuration
  • 4.3.8.6 Previous Employer Tax Deducted/Paid Details

4.4 Processing Payroll with Income Tax

• 4.4.1 Attendance Vouchers
• 4.4.2 Payroll Vouchers
• 4.4.3 Payment Vouchers

4.5 Payroll Reports

• 4.5.1 Pay Slip
• 4.5.2 Pay Sheet
• 4.5.3 Attendance Sheet
• 4.5.4 Payment Advice
• 4.5.5 Payroll Statement
• 4.5.6 Employee Pay Head Breakup
• 4.5.7 Pay Head Employee Breakup
• 4.5.8 Payroll Register
• 4.5.9 Attendance Register
• 4.5.10 Employee Profile
• 4.5.11 Employee Head Count
• 4.5.12 Expat Reports

4.6 Payroll Statutory Reports

• 4.6.1 Summary
• 4.6.2 Provident Fund
• 4.6.3 Employee State Insurance
• 4.6.4 Professional Tax
• 4.6.5 Gratuity
• 4.6.6 Income Tax Reports
• 4.6.7 Challan Reconciliation (Income Tax Payment)
• 4.6.8 Income Tax Returns
• 4.6.9 Income Tax E-Return
• 4.6.10 Exceptions Reports

4.7 Conclusion
Key Takeaways
Shortcut Keys
Practice Exercises