Can admin merge IT declaration and FBP declaration?

Created by Product Content Team, Modified on Tue, 1 Jul at 11:57 AM by Product Content Team


No, the admin cannot add the FBP declaration component in the IT statement. Both features are different.
Flexible Benefits Plan (FBP) means customizing the salary breakup of the employees to achieve maximum tax benefits. Under a flexible arrangement, an organization allocates a specified amount to each employee to avail of benefits. 

IT declaration is collecting investment declarations from employees at the beginning of the financial year. It helps to ensure compliance with applicable tax laws and regulations and avoid legal penalties or fines for non-compliance.


Looking for More Support?

Find answers and insights across our resources. Refer to our detailed Knowledge Base for in-depth articles, explore our practical video guides, and stay informed with our latest product updates.

 

Want to explore more features on greytHR? Talk to Us!  


Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select at least one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article