Deduction U/s 80 G by Employer.  *TDS Salaries*.

Do you know that as employer *you cannot allow* 80-G, Donation deduction to your employees.

And if you do…. and you are caught….. you are liable for payment of that much TDS + intt + penalties.

_Source:_

CBDT vide its CIRCULAR NO.1/2010 F.No.275/192/2009IT(B)]dt. 11/01/2010 says while deducting income tax at source from salary the employer need not consider 80G payment of employee.

Extract is given below:

“G. Section 80G provides for deductions on account of donation made to various funds , charitable organizations etc.

Generally no deduction should be allowed by the D.D.O. from the salary income in respect of any donations made for charitable purposes.

The tax relief on such donations as admissible under section 80G of the Act, will have to be claimed by the tax payer in the return of income.

However in cases where employees make donations to the Prime Minister’ National Relief Fund, the Chief Minister’s Relief Fund through their respective employers, it is not possible for such funds to issue

separate certificate to every  donations as indicated above will be admissible under section 80G on the basis of employers certificate….. Circular No.2/2005, dated 12-1-2005.”

GST ALERT… *Finsys* has created a new software to make Auto Debit Note & auto Credit Note Package – for Customer Side ?

Earlier called Supplementary invoice ( in Pre-GST period ) for retrospective Price change.

*How to use ?*

Select the Customer, select the item, select the period , and ask the new price.  Press Enter.

*Result*

The ERP automatically, will

find which invoices, what qnty in each invoice, calculate the rate diff and value diff for each invoice.

*output*

Master summary in excel – to send the customer and PDF / printout of 1000’s of Debit Notes in 1 click.

*Benefit*

This saves time. A lot of it will get wasted making Debit Notes… one by one.

Call Finsys for buying this new Innovative Software.

Congratulations.  Our Tree Plantation Drive, was recognised.

The UK based  www.labelsandlabeling.com Magazine has covered the same…..  with photographs of Mr Sangeet , Mr Puneet, Mr B S Modi , Mr Mayank with other members.

See link. https://label-news.com/1RDT-5J171-C2MWOG-31YAWQ-1/c.aspx

A Gift of Oxygen, Finsys ERP.

Bar Code based WIP movement in Rubber Moulding company in Tapukhera, Khushkera

This is ( Rewari and Bhiwadi region ) by Finsys ERP

Do you know that Finsys ERP Team recently implemented *Bar Code* based Work in Progress Monitoring and WIP transfer in many companies.?✌ . (

In these companies, Production supervisors *work with Scanners*. Each bin comes to their section, they scan the bin *bar code*. Entry gets done. Automatic. Real Time. Actual.?

The Downtime reasons, if any, and Wastage?(if any) is entered on the screen of device ( Mobile / tab / Computer ).???

And the Finsys ERP gives the output Bin Bar Code…. With all Batch info

Example 1 : in Sheet Metal Auto Component Industry Job/batch bins are bar coded and thus monitored at each stage and this eases data entry and traceability at each level right from RM steel input , its rough cutting, press shop, machining, assembly, packing and dispatch.

Example 2 : Rubber Moulding Industry – both in Mixing plant and the Moulding Plant

Example 3 : in Flexible Packaging Laminate Industry Reels are bar coded at each stage and this eases data entry and traceability at each level, Printed Reels, Laminated Reels, Slitted Reels and Also Pouches Strips / Pouch packets.?

Do you know that now Finsys has implemented Bar Code based Raw Material Issue in over 75 companies till now. ?

All these companies have now implemented “Near Perfect” FIFO based material issue. These companies have also been successful assuring Perfect Traceability of each Batch of production.

These can help a company in managing the business in a good organized way. ?

• Traceability is enabled

• FIFO is enabled.

• Wastage go down,

• Reconciliations get easier.

?‍?

These ideas are available to all companies, which are Gearing towards Growth.

??‍??‍?

Bar Codes – on Raw Materials.

1. Bar Coded Tags are printed automatically at the stage of Material receipt
2. Scanners used for
3. issue of Raw Material , from stores to production floor
4. return of material from production floor to stores

1. This helps in Batch wise Stock Traceability and FIFO / FEFO.
2. Applicable in all Industries.
3. Successful Results in Manufacturers of Steel auto components, Plastic Molded components, Rubber molded/extruded components, Corrugation, Laminate Flexible Packaging, Artificial Leather, and Pharma.