IT declaration is used to submit your investment statement at the beginning of the financial year. New employees can declare their investment portfolio at the time of investment. Investments can also be declared at the time of salary or when the EDP message window is open. The deduction made at the time of salary of the employee is known as Tax Deduction at Source (TDS).
In order to gain benefit from the maximum exemptions from TDS, it is important to identify your future investment plans and choose an appropriate scheme that benefits you. You can see your investment plans at any time of the year and change the values when your employer opens the reporting window in the usable HR Management System. Income tax is calculated on the basis of the declarations and the chosen regime of the company.
Also, See: Employee Benefits Administrators
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