Tax computation and withholding are critical aspects of payroll processing that directly impact compliance, employee trust, and organizational reputation. An inaccurate deduction or delay in filing may not only result in penalties but also lead to employee dissatisfaction and legal exposure.
This service ensures precise tax deduction at source (TDS) for every employee based on applicable income tax slabs, exemptions, and declarations under prevailing laws. Whether it’s salaried income, reimbursements, or perquisites, all earnings are analyzed and taxed according to the latest Finance Act.
Employees can declare investments (under 80C, 80D, etc.), housing loans, and other eligible deductions via self-service portals. Our team verifies the declarations, calculates estimated annual income, and deducts tax proportionately each month to avoid last-minute burdens.
As part of the withholding process, all mandatory statutory deductions including Provident Fund (PF), Employee State Insurance (ESI), and Professional Tax (PT) are also handled systematically. Monthly challans and return filings are taken care of, ensuring full compliance.
Quarterly TDS returns (Form 24Q) are filed as per Income Tax rules, and Form 16s are generated for all employees annually. The system ensures accuracy in PAN validation, challan mapping, and record matching to avoid notices or mismatches from CPC-TDS.
Overall, this service not only reduces compliance risk but also brings peace of mind to employees and HR by automating the entire tax computation and deduction workflow.
We don’t believe in one-size-fits-all auditing. At Pawan Lohia & Associates, every Risk-Based Internal Audit begins with an in-depth understanding of your business model, industry dynamics, and regulatory exposure. Our team collaborates closely with your internal stakeholders to prioritize risk areas, define scope, and execute detailed audits with a strategic lens.
Monthly TDS is computed based on projected annual income including salary, perks, and bonuses, minus declared exemptions and deductions under relevant sections (like 80C, 80D, HRA, etc.). The total tax liability is then divided equally over the remaining months in the financial year for proportionate monthly deduction.
Yes. Employees are provided access to an online portal to submit investment declarations such as LIC, PF, tuition fees, home loans, etc. Towards the end of the financial year, they are required to submit documentary proofs for verification before final tax adjustments are made.
In such cases, partial-year income is calculated and previous employment income (if any) is taken into account through Form 12B submission. Tax is computed proportionately for the months of service, and any pending or excess TDS is adjusted in the final payout.
We validate all PAN numbers, link challans correctly, and match entries with TRACES portal guidelines. Form 24Q is filed quarterly with all employee-wise tax breakup, and Form 16 is auto-generated at year-end, ensuring compliance with CBDT norms.
Yes. Employees can view real-time tax projections, deduction history, and expected year-end liability through the portal. This transparency helps them plan additional investments or request adjustments in advance.