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Legislative Update for PeopleSoft HCM Global Payroll India

Paul Smit
Director Product Management

The Central Board of Direct Taxes (CBDT) has amended Form 24Q to make them more elaborative and informative. The same has been done to bring the Forms in parity with latest changes made in ITR Forms such as disclosure of deductions and exemptions.

The revised File Format for Form 24Q (4th Quarter) Version 6.4 has been made available via Tax Information Network by Income Tax Department on 13th of May 2019.

The CBDT also released a notification on 6th of May 2019 with regards to the procedure, format and standards for issuance of certificate for tax deducted at source in Part B of Form No. 16. All deductors shall be able to issue the TDS certificate in Part B of Form No. 16 either by generation or via download through TRACES Portal. 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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