How can admin view tax slab for new regime?

A tax slab is a specific range of income or earnings to which a particular tax rate is applied.

To view the tax slab for the new regime, the admin must perform the following actions:

1. From the greytHR Admin portal, navigate to the Settings icon > System Settings > Income Tax > Tax Slab. The Tax Slab page opens.
2. From the Financial Year dropdown list, select the required financial year. The page displays the Min Limit, Max Limit, Tax Rate, and Surcharge Rate for different income groups in a tabular format.
3. You can toggle through the Old Regime and New Regime tabs to view the tax slabs as per your requirements. 

Note:

• In the new tax regime, 37% of the surcharge rate for the highest tax slab is revised to 25%.
• The current leave encashment exemption limit of Rs 300000/- is revised to Rs 2500000/-.

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Related Links:

Video- To watch a video on Budget changes for FY 2023-24, click here.

FAQs: To read more about Budget changes for FY 2023-24, click here.

Documentation:

• To learn more about the recent Budget changes for FY 2023-24, click here.
  
• To learn more about the Tax Slabs of budget changes, click here.

Product Update- To read about the product update, click here.