What is My Tax Planner and how can employee create plans with My Tax Planner?

My Tax Planner is an IT planner feature that helps you as an employee 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, the employee must perform the following steps:

1. From the greytHR ESS login, navigate to Salary > IT Declaration. The IT Declaration page opens.
2. Click My Tax Planner. The Income Tax Planner page opens.
3. Click Create Plans to create IT declaration plans. The IT: Plan A page opens.
4. Click Add to declaration under each section to add investments information.
   Note: Click Preview to view the investments summary.
5. 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
6. To create more plans, navigate back to the Income Tax Planner page and click Create Plan under Plan B.
7. To edit an existing plan, click View Plan for the plans you created to view or edit the plans individually.

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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.