Yes, the admin can compute the income tax of resigned employees. IT declaration is collecting investment declarations from employees at the beginning of the financial year. Considering an employee's IT declaration is necessary for an organization to accurately calculate and deduct the appropriate amount of income tax from the employee's salary.
To settle a resigned employee's income tax during the final settlement, the admin must complete the following three processes:
Clear IT declarations and reprocess the income tax from the beginning of the financial year.
To know how to clear IT declarations, click here.Process Full and Final settlement without clearing the IT declaration. Ensure to collect proof of investment from the employees.
To know how to process the Full and Final settlement, click here.Choose to clear or process the IT declaration for each employee individually.
To know how to clear or process the IT declaration, click here.
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Related Links:
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FAQs- To read more about IT Declaration, click here.
Documentation:
- To read more about IT Declaration, click here.
- To read more about viewing employee's IT Statement, click here.
Product Update- To read our product update, click here.
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