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Legislative Update for PeopleSoft HCM Global Payroll India

Paul Smit
Director Product Management

The Central Board of Direct Taxes (CBDT) have introduced a new Format for Form 16. The new form has detailed break up of exempt allowances paid to the employee, standard deduction allowed and information on additional Income (or loss) from house property or income from other sources. The format specified in the notification comes into effect from May 12, 2019.

Our position statement has been revised to include these legislative changes and information on solution delivery. The Position Statement can be found on My Oracle Support, Document ID 2502935.1. We encourage our customers to review the latest statement to keep up to date.

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