greytHR is now ready with the budget changes for the current financial year 2020-21. These changes will be reflected in the system from the April 2020 payroll 2020. The These changes will be are enabled by default in our application.
Changing the Default Regime Settings
Navigate to Payroll > Payroll Inputs > Salary. You will see the following information box stating that the new budget is already enabled for the year 2020. This information box will appear effective from Apr’2020 payroll.
Please note that you can also change the default regime settings from Payroll > Process > Payroll Process.
- Old tax regime is selected by default for employees who have not declared IT. To change the default regime settings, click
Select a Default income tax regime from the Select drop-down menu. Default regime will be assigned for the employees who have not declared IT.
- Click Update to change the default tax regime settings.