How can admin recompute the income tax of resigned employees?

Employees who resigned before budget changes mid-year (FY 2024-25) (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.

To recalculate the income tax of resigned employees before budget changes 2024-25, from the greytHR admin portal go to Settings > SYS ADMIN BACKROOM > INCOME TAX UTILS >  Recalculate Income Tax.

1. From the Income Tax Year dropdown select 2024-2025.

2. Select the All Resigned Employees before budget changes 2024-25 radio button. The eligible list of resigned employees appears.

3. Select the checkboxes besides the employee names and click Recalculate.
   
   

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