IT Declaration, also known as Income Tax Declaration, refers to the process where employees provide details of their income, investments, and expenses to their employer for the purpose of calculating the appropriate income tax deductions at source.
To release IT declaration for all the employees, 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.
- On the Employee IT Declaration page, under the Release / Lock tab, from the Status drop-down list, select the status as Locked.
- Click Release All. The Release IT Declaration pop-up appears.
- In the pop-up, the following options are provided in the pop-up:
a. Show current month unreleased salary to employee(s) to plan their Income Tax.
If you choose Yes, the current month's salary which you have not released yet will be visible to your employees. This will help them in planning their Income Tax appropriately.
b. Send e-mail notifications to employee(s).
If you choose Yes, an e-mail notification will be sent to the employees. The e-mail will inform employees that the IT declaration is released.
- Click Release to release IT declaration successfully for all the employees.
Note: Before releasing IT declaration for the employee, ensure the payroll is locked and salary is processed for all the employees.
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❓FAQs- To read more about IT Declaration, click here.
- To learn more about IT Declaration, click here.
- To learn more about viewing employee's IT Statement, click here.
▶Video- To watch the video on IT Declaration, click here.
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