Release Lock and Consider Employee IT Declarations

Investment declaration is done at the beginning of a financial year by collecting a paper-based or an Excel file declaration from the employee. You will then need to use this data, calculate the TDS (Income Tax) for every employee and then affect this in the monthly Payroll.

In addition to this, every time an employee’s salary changes or a new employee is added, the process needs to repeat for that employee. As you can see, the above process is quite tedious and time-consuming.

With greytHR ’s investment declaration module, completing this activity becomes quite easy and hassle-free.

You just need to follow 3 simple steps to complete your IT declaration process on greytHR

Step 1: Release your employee IT declarations ( this process is done ideally in the beginning of the payroll month and also at the beginning of the financial year.)

Step 2: Lock your employee IT declarations by end of the payroll month, this process can be automated on greytHR

Step 3 : Then finally “Consider” (download) your employee IT declarations before you process the payroll to ensure that all the IT Declaration are considered or taken up in the Payroll processing.

Income Tax Savings for Employees https://greytip-2.wistia.com/medias/xarzxibhs9

Sekhara G
about 1 year agoOctober 16, 2019
I need to take apply same (2018-19) IT declarations for the year 2019-20 of 4 employees. Please let me know the process how to apply
Anand Chavan Aexonic
about 1 year agoNovember 15, 2019
00:00:00
Can we done process every month before processing payroll
Simi Paleri
about 1 year agoNovember 15, 2019
Yes Anand, you need to complete this process before processing the payroll.
Anonymous
10 months agoFebruary 11, 2020
I need to understand the process how to feed IT declaration of all employees
Anonymous
10 months agoFebruary 11, 2020
Dear Customer, please watch the video to know more about employee IT declaration process on greytHR. https://greytip-2.wistia.com/medias/0ooo20c9d9. 

Thanks
Simi Paleri
SBC
10 months agoFebruary 13, 2020
Let me know the step to inform & get the IT investment proofs against declared invest ment so that employer can deduct the Tax as per provided proofs before ending the FYMar.
Anonymous
10 months agoFebruary 13, 2020
Dear Customer, greytHR's Proof of investment module will help you to collect the Investment proof documents from your employees, you can also recalculate your employees IT based on the proof submitted. Please do click on the below video link to know more about the feature.
https://greytip-2.wistia.com/medias/0x9w78v207
Thanks
Simi Paleri
ix
7 months agoApril 27, 2020
Can I delete the Finally considered IT Declaration??
Sruthi
5 months agoJuly 23, 2020
Can I delete employees' IT Declarations which is not been considered and release again?
Anonymous
5 months agoJuly 23, 2020
Hi Sruthi, Yes you can always navigate to the employee IT declaration page to release the IT declaration for the same employee by following the same procedure,  You will find the employee name under the locked status. 

Thanks
Simi Paleri
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