The TCS/TDS Declaration allows employees to declare details of Tax Collected at Source (TCS) and Tax Deducted at Source (TDS). These declarations are made under the Income Tax Declarations (IT Declarations) and Proof of Investment (POI) sections. It ensures that any taxes already collected or deducted at the source are accounted for when calculating the employee's overall tax liability for the financial year.
The payroll admins can use the greytHR platform to easily collect and verify the TCS/TDS declarations submitted by employees. Employees can declare their TCS/TDS amounts from their greytHR ESS portal to ensure that their taxes are calculated correctly. This helps them avoid paying excess taxes and ensures proper adjustments to their overall tax liability.
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Related Links:
Video- To watch the POI submission video, click here.
FAQs- To read more FAQs about the TCS/TDS Declaration, click here.
Documentation- To learn more about TCS/TDS Declaration, click here.
Product Update- To read about the product update, click here.
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