How can employees select/change the tax regime?

A tax regime is a defined system of rules, rates, and procedures established by a government to levy and collect taxes within its jurisdiction.

An employee can choose a tax regime during the IT declaration process, and their tax is calculated based on this selection. 

Note: You can switch your tax regime if your admin enables the option. 

If the option to change your tax regime is enabled, the employee must perform the following actions:

1. From the greytHR ESS portal, navigate to Salary > IT Declaration. The IT Declaration page opens.

2. Click Withdraw and Revise. The Withdraw and Revise pop-up appears.

3. Select the option I agree.

4. Click Revise to edit the form. The Edit Form page opens.

5. Click Next. The Regime page opens. You can view the comparison of the regimes on this page.

6. Click Next to select a regime. The Select Regime page opens.

7. From the Select the income tax regime to submit and declare IT dropdown list, select the regime most beneficial to you.

8. Select the option I acknowledge that I can choose my regime only once for the current financial year.

9. Click Submit to declare your IT. Submit IT Declaration pop-up appears.

10. Click Confirm to submit your IT declaration with the updated regime.

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Related Links:

Video -To watch the Income Tax video, click here.

FAQs - To read more FAQs about Income Tax, click here.

Documentation - To read more about the Income Tax page, click here.

Product Update - To read our product update, click here.