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GPIND: Global Payroll India Legislative Changes for Tax Year 2015-2016 (Doc ID 1970139.1)

Last updated on FEBRUARY 06, 2019

Applies to:

PeopleSoft Enterprise HCM Global Payroll India - Version 9 to 9.2 [Release 9]
Information in this document applies to any platform.

Details

The intent of this document is to describe solutions for problems or questions related to Global Payroll India Legislative Changes for Tax Year 2015-2016 This solution applies to customers on PeopleSoft Release {9.0, 9.1 & 9.2}. This is a living document and will be updated as new solutions are created; please review thoroughly on a regular basis.

(Last updated April 1st 2015) Summary Table - see below for details:

Please see table below for details.

 

Legislative Change Effective Date Additional Info P1 Patch Fix Target Date Targeted into PUM Image/Patchset
DIGITAL SIGNATURE FOR FORM-16 USING USB TOKEN
DIGITAL SIGNATURE FOR FORM-16 USING USB TOKEN
DIGITAL SIGNATURE FOR FORM-16 USING USB TOKEN
DIGITAL SIGNATURE FOR FORM-16 USING USB TOKEN
DIGITAL SIGNATURE FOR FORM-16 USING USB TOKEN		 2015 N/A

Release 9.2: Patch 20159437, May 5th

Release 9.1: Patch 20159466

 

HCM 9.2.013,

GP 9.1 Update 2015-C, ETA July 27th

 
 BUDGET CHANGES 2015-16  April 1st 2015

 1. Increase in Surcharge - 10% to 12%
 2. Conveyance allowance exemption increased - 800 to 1600 per month
 3. Section 80C - Investments to Sukanya Samridhi included to 80C
 4. Section 80CCC - Limit increaed to 1.5 lakh from 1 lakh
 5. Section 80CCD - Additional 50000 deduction for contribution towards NPS
 6. Section 80D - Limit increased from 15000 to 25000 & 20000 to 25000 (for senior citizen)
 7. Deduction for medical expenditure for very senior citizen up to 30000.
 8. Section 80DD & 80U - Deduction limit increased from 50000 to 75000 & 100000 to 125000
 9. Section 80DDB - Deduction in respect of medical expenditure for very senior citizens upto Rs.80000

Along with the above the following are also delivered in the patch

A) PF admin charges reduced to 0.85%

B) PT changes for Karnataka

 

  

Release 9.2: Patch 20636765

Release 9.1: Patch 20650098

Release 9.0: Patch 20650109

 

 HCM 9.2.013,

GP 9.1 Update 2015-C

GP 9.0 Update 2015-B
 PT CHANGES FOR MAHARASHTRA 2015-16 PT CHANGES FOR MAHARASHTRA 2015-16
PT CHANGES FOR MAHARASHTRA 2015-16
 2015 Currently professional tax is applicable to all persons drawing salary above Rs.7, 500 per month. The salary limit has been increased to Rs.10, 000 for women employees effective 1st April 2015.  

Release 9.2: Patch 20636765

Release 9.1: Patch 20810253

Release 9.0: Patch 20810233		 HCM 9.2.013,

GP 9.1 Update 2015-C

GP 9.0 Update 2015-B

 To stay up with the legislative changes that will impact your PeopleSoft Application visit https://blogs.oracle.com/psftlegupdates/

Actions

 You need to apply the critical patches / GP Updates whenever their legislative fixes are posted.

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