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Legislative Update for PeopleSoft HCM Global Payroll India

Paul Smit
Director Product Management
The CBDT vide Notification No. 30/2016 has amended Income Tax Rules w.e.f. 1st June 2016 by inserting Rule 26C stipulating requirement of submission of evidence/ proof/ supporting documents in Form 12BB by employees for claiming certain deductions from salary income. In order to ensure compliance with these legislative initiatives Oracle has published a revised position statement detailing the amendment along with solution deliverable timelines. The document is made available on My Oracle Support, Document ID 2113784.1. We encourage our customers to review the latest Statement to keep up to date.

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