Understanding Year End Processing

Certain legislation requires the annual processing and reporting of relevant payroll data. Global Payroll for India enables you to define the year end report parameters and generate the following reporting forms:

  • Form 3A.

  • Form 5.

  • Form 6.

  • Form 7.

  • Form 12BA.

  • Form 16.

  • Form 24.

  • Form 24Q e-filing.

Year end processing with Global Payroll for India requires that you:

  1. Define the data values of the reporting form.

  2. Run the report.

Note:

Form 24 and Form 16 are year end reports that are produced by a unique combination of PAN (permanent account number) and TAN (tax deduction account number) numbers. For a single pay entity, several combinations of PAN/TAN might exist, each being generated separately.