Tuesday May 14, 2013

Legislative Updates for PeopleSoft Global Payroll India

Changes to Form 16

The Income Tax Department has issued a circular Viz. F.No 275/34/2011-IT (B) dated 17/04/2013 listing the amendments to the issuance of Form 16 and the generation process from TRACES. Our Position Statement has been revised to include these legislative updates and the delivery timelines for the respective changes. We advise customers to review the position statement to keep up-to-date. The Position Statement can be found on My Oracle Support, Document ID 1532190.1.

Legislative Update for PeopleSoft Global Payroll Malaysia

IRBM (Inland Revenue Board of Malaysia) has announced some amendments to the category of remuneration for the purpose of PCB Calculation. This announcement was made on April 29th, 2013.

Overtime allowance, allowances and commissions ( referring to variable amount paid monthly) are categorized as normal remuneration. Only allowance and commission which are not paid monthly are categorized as additional remuneration. These changes are effective retrospective date of 1st January 2013. Our Position Statement has been revised to include these legislative updates. We advise customers to review our position statement to keep up-to-date. The Position Statement can be found on My Oracle Support, Document ID 1528264.1.

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This blog is dedicated to topics focused on legislative updates to PeopleSoft Applications including Human Capital Management and Financials.

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