Why is the recomputing Income Tax for left employees necessary?

Created by Product Content Team, Modified on Tue, 1 Jul at 10:22 AM by Product Content Team

The government proposed budget changes mid-year (FY 2024-25). Employees who resigned before these changes (generally before August or September 2024 payroll) might have had their income tax calculated based on the previous, lower standard deduction. The Auto Recompute Income Tax for Left Employees feature ensures accurate tax calculations for these employees, especially crucial for accurate Form 24Q (Q4) and Form 16 generation.

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