greytHR Help
Get Started - greytHR Admin Portal
Highlights of the Month - Admin
Employee Lifecycle Management
Performance Management System
Payroll Management
πŸ“„ View employee payroll information summary at a gl
Leave Management
Attendance Management
Workflow
Reports
Expense Claim
Assets Management
Integrations with greytHR
DataShare Hub
Know more about greytHR
General Settings
Employee Settings
Payroll Settings
Leave Settings
Attendance Settings
Helpdesk Settings
greytHR Admin portal→

View income tax slabs for FY 2023-24

Updated inΒ February- 2024 |Β Subscribe to watch greytHR how-to video

Income Tax is calculated on income earned by all individuals, Hindu Undivided Family (HUF), partnership firms, and corporates as per the Income Tax Act of India. A tax slab means to pay different tax rates based on different income ranges.Β 

The Tax Slab page in the greytHR Admin portal displays the tax slabs for calculating Income Tax in India. You can also view the tax slabs for the current and past financial years.Β You do not need to make any effort to incorporate the budget changes. The budget changes will automatically reflect in greytHR.

You can view the old tax slabs and new tax slabs under the Old Regime and New Regime tabs respectively. To view the Tax Slab page, click the Settings icon > System Settings > Income Tax > Tax Slab.

Following are the tax slabs for the new regime:

⚠️ We recommend you to contact the greytHR support team before making any changes in settings.

View Income Tax slabs

To view the Income Tax slabs, perform the following actions:

  1. On the Tax Slab page, from the Financial Year dropdown list, select the required financial year. The page displays the Min Limit, Max Limit, Tax Rate, and Surcharge Rate for different income groups in a tabular format.

  2. You can toggle through the Old Regime and New Regime tabs to view the tax slabs as per your requirements.Β 

Note:

  • In the new tax regime, 37% of the surcharge rate for the highest tax slab is revised to 25%.

  • The current leave encashment exemption limit of Rs 300000/- is revised to Rs 2500000/-.

Other related links:

Was this article helpful?

More resources:

β–Ά Video - Watch ourΒ how-to videosΒ to learn more about greytHR.

❓ FAQs - Solve your queries usingΒ FAQs.

πŸ“’ Product Update - Read about theΒ product updates.