The income tax regime refers to the set of rules and regulations governing the calculation and payment of income tax by individuals or entities. The old and new income tax regimes, to changes made in the tax laws or structures.
To allow employees to change the Income Tax regime, the admin must perform the following actions:
- From the greytHR Admin portal, navigate to Payroll > Admin > Employee IT Declaration. The Employee IT Declaration page opens.
- Click the Release Options button. The Release Options pop-up appears.
- From the Allow employees to select a regime till dropdown list, select a month until when employees can choose a regime.
- Click Save to allow employees to change the Income Tax regime. A success message appears.
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