Stay informed about the updates applied to PeopleSoft applications to keep your organization compliant

Legislative Update for PeopleSoft HCM Global Payroll India

Post winning the elections, the Current Government presented the union budget for Fiscal Year 2019-20 on July 5, 2019. There were amendments with respect to Surcharge on Income Tax and deductions from Total Income. These amendments will take effect April 1, 2020 and will, accordingly, apply in relation to assessment year 2020-21. Also note that the Finance Bill tabled in Parliament is pending royal assent from the President.

The Position Statement has been revised to include more details about these legislative updates and the patch availability. 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 2502935.1.

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