A Guide to Income Tax Sections & Exemptions | Workwisely

Tax Section

  • Navigate to Tax and Statutory Compliances → Tax Rules → Tax Section

  • The tax sections for exemptions are pre-defined in the application based on the selected Old or New tax regime.



Fig: Tax Section
    • Related Articles

    • Section Investment

      Navigate to Tax and Statutory Compliances → Tax Rules → Section Investment This feature is used to record and manage employees’ declared investments and expenses eligible for tax benefits under various sections of the Income Tax Act. The sections and ...
    • Income Under Section 24

      Self -occupied Property Navigate to Tax and Statutory Compliances → Tax Declaration → Income Under Section 24 → Self-Occupied. If the employee is repaying a home loan for their self-occupied property,provide the following details. Click the +Add ...
    • Tax Regime Selection

      At the beginning of each financial year, once the previous financial year is closed by the Payroll Administrator, employees will be prompted to select their preferred Tax Regime in the My Dashboard. The option to choose between the Old Regime and the ...
    • Tax Slabs

      Navigate to Tax and Statutory Compliances → Tax Rules → Tax Slabs The Income Tax Slabs for both the Old and New regimes are pre-defined as per the latest Income Tax Department notifications. The system uses these slabs to automatically compute ...
    • Tax Rebate

      Navigate to Tax and Statutory Compliances → Tax Rules → Tax Rebate It is designed to automatically apply eligible rebates to reduce the final tax liability of employees, in accordance with the provisions of the Income Tax Act. These rebates are ...