Choosing the Income Tax regime 2020-2021

Choosing the Income tax Regime in Exenta 

Exenta gives you the option to choose the tax Regime from the one of the two regimes which is introduced by the Government of India for the Financial Year 2020-2021

 Accessing your Income Tax page:

 You need to Login to your HRMS and then go to the Compensation Module in the Main menu which is on the top of the HRMS

Please click on the My Compensation Income Tax, you would land in the Income Tax Page

Age category will be chosen by the system automatically based on the DOB given in the system | In the ‘Estimated Other Income’ field, user needs to enter the approximate income which can be credited for the current financial year. (eg., Bonus, LTA ) | In the ‘Less : Exemption/Deduction’ field, user needs to total value of the exemption or declaration whichcan be claimed for the current financial year including the Standard Deduction and PF contribution. | After entering the values as given above, the user needs to click on the ‘submit’ button to review the tax ratesbased on the old and new tax regime. The user will able to see the screen as shown below once clicking onsubmit button:

User needs to choose one of the given two options and have to click on submit to confirm the tax regime. The given tax value will be equated into 12 installments and will be shown in the My Monthly Tax page as shown below: