My Tax Planner is an IT planner feature that helps you to plan your investments under different sections to gain maximum tax exemption. This feature allows you to create up to three different plans with various combinations of investments without submitting your IT declarations.
Depending on your choices, each plan can present you with a different amount of tax to be deducted from your salary. Thus helping you in choosing the best option which provides the least amount of tax deduction. You can then submit the plan of your choice.
To create plans with My Tax Planner, perform the following steps:
- Log in to your greytHR ESS portal, and then navigate to Salary > IT Declaration. The IT Declaration page opens.
- Click My Tax Planner. The Income Tax Planner page opens.
- Click Create Plans to create IT declaration plans. The IT: Plan A page opens.
- Click Add to declaration under each section to add investments information.
Note: Click Preview to view the investments summary.
- Click View IT calculation to view the income tax breakup. The Plan - Preview page opens. On the Plan - Preview page, you can view a detailed comparison between the old regime and the new regime, for the plan you have created.
Note: You're only calculating your taxes. This is not a submission of your IT declaration form. This will give you the complete break up of your salary and your investments and finally arrive at taxable income and liable tax amount.
- To create more plans, navigate back to the Income Tax Planner page and click Create Plan under Plan B.
- To edit an existing plan, click View Plan for the plans you created to view or edit the plans individually.