MJ Blogs

Tax rates and slabs: 1.     Education cess of 3% is replaced by Health and education cess of 4% 2.     No other changes in the tax rates and surcharge 3.     No changes in the tax slabs for individuals 4.     Thus, the maximum marginal rate of tax has increased from 35.535% to 35.88% Standard deduction on salary income: 1.     Standard deduction of INR 40,000 or amount of salary received whichever is less has been introduced 2.     Exemptions currently available for transport allowance amounting to INR 19,200 per annum and reimbursement of medical expenses amounting to INR 15,000 per annum is proposed to be withdrawn. 3.     Transport allowance exemption for differently abled persons to continue. Increased deductions for health insurance and treatment relating to senior citizens: 1.     Deduction under section 80D for health insurance prem...

Link to Macau Tax Calculator:  http://www.dsf.gov.mo/tax/tax_downloadapps.aspx?lang=en Introduction ·          Individuals are subject to tax on income arising in Macau. Residency of an individual has no significance in determining tax liability. ·          Professional Tax is imposed on employment and self-employment income arising in Macau. For the purpose of tax, taxpayers are divided into employees and professional practitioners. ·          Tax Year End is 31st December. ·          PAYE System is used to withhold taxes ·          TFN: When an individual commences employment, they will be requested to quote their Tax File Number (TFN) to their employer. ·          Tax Amount is rounded up to the nearest dollar. ·  ...

Payroll Software being sold as a part of ERP suite, or standalone is becoming the need of the hour. With the rising of global mobility and multinationals, the software is in great demand. The major players in the market are SAP, ADP, Oracle, Cornerstone, Workday and Ramco Systems. Payroll Software offloads the work of Finance or Separate Payroll Department to a great extent. Gone are the days when payroll officers used to calculate payrolls on excel worksheet. With this there are many challenges which the payroll software providers face. Below we have discussed major challenges with solutions available. Let’s start… Compliance As there are many regulations which a payroll must be compliant with, the payroll software may not be compliant with it or may request manual inputs which adds to the burden on staff. There may also be a difference between the legislation announced by the government and actual working style in the region. The Changing Environment ...

Tax Year:                                   Calendar Year i.e. Jan-Dec Currency Code:                     EUR Currency Symbol:                 € Currency Name:                    Euro Pay Frequency:                     Monthly Language:                               French Capital:           ...

Imagine an office work planner embedded within the **Sociometric Badge of an employee. The work planner gives you instruction on when to start which task. Tells you to relax and alarms you to drink water at frequent intervals. ** A sociometric badge (commonly known as a "sociometer") is a wearable electronic device capable of automatically measuring the amount of face-to-face interaction, conversational time, physical proximity to other people, and physical activity levels using social signals derived from vocal features, body motion, and relative location This (Workplace Planner + Sociometric Badge) linked to every meeting room in your organization. You can actually rate a meeting from your Badge itself at your convenience. Your badge tells you to prepone the meeting as you have movie booked during that time and also tells you the meeting schedule of your counterpart so both of you can fix meeting at best available time, saving you from multiple from and to...