An income tax statement, also known as an income tax return or tax declaration, is a document that individuals or businesses file with the tax authorities to report their income, deductions, and tax liability for a specific tax period.
It provides a summary of the taxpayer's financial activity and serves as the basis for calculating the amount of income tax owed or the tax refund due.
To generate an Income Tax Statement report, the admin must perform the following actions:
- From the greytHR Admin portal, navigate to Reports > Reports > Reports Gallery. The Reports Gallery page opens.
- In the search text box, enter Income Tax Statement. The Income Tax Statement page appears.
- From the IT Statement as on dropdown list, select the required payroll month.
- Select All Employees or Selected Employees as per your requirements.
- Click Options to customize the report.
- From the Report Output Type dropdown list, select the relevant option.
- Click Email to generate and email the IT statement to the employee via email.
- Click Save to update the changes.
- Click Generate to generate the Income Tax Statement report.
❓FAQs- To read more FAQs about the IT Statement, click here.
📃Documentation- To learn more about IT Declaration, click here.
▶Video- To watch the video on Reports Gallery, click here.
📢Product Update- To read about the product update, click here.