The term is commonly used to refer to a company’s records of its employees’ salaries and wages, bonuses, and withheld taxes. Thus payroll services include the following kind of services:
Review the computation of monthly salaries based on agreed salary structures and advise on TDS &
other matters
Inform for collection of “income and investment declarations” from each employees and also keep a
track of modifications therein
Computation of estimated income tax to be withheld (TDS) per month based on “income and
investment declarations”.
Informing monthly TDS to be paid with the government treasury
Preparing & filing of Quarterly filing of Form 24Q regarding TDS.
Issuing Form-16 to employee/s in order to claim income tax relief while filing his/her personal
Income Tax Return.
Computation of full & final settlements in case of separations, if any.
