Employee's IT Declaration is a page on which you can declare your investment details and select a regime to avail tax benefits and exemptions from tax. You can submit your investment declarations at the beginning of the financial year. New employees can declare investments at the time of joining. Investments can be also be declared at the time of change in salary or investments if the IT declaration window is open.
Income Tax declaration helps your employer to estimate your Income Tax (hereafter referred to as IT) for the current financial year. This deduction is called Tax Deduction at Source (TDS). To take maximum exemptions from TDS, it is important to declare your future investment plans and select a proper regime. You can review your investment plans at any time of the year and modify the values when the declaration window is opened by your employer. Income tax is calculated based on the declarations and regime selected.
To navigate to the IT Declaration page, click Salary > IT Declaration.
On the IT Declaration page, you can perform the following actions: