Tax Changes for the New Financial Year 2025-26

At the beginning of every financial year (or) while joining the company you have to submit ‘Income Tax Declaration’ to the employer. This is a provisional statement that has details about your proposed investments and expenses that are Income Tax deductible. As the financial year end, in the month of March 2025 or at the time Separation, you need to provide supporting Investment proofs for these investments that you have specified in Income Tax Declaration. Based on your proposed investments and expenses, your employer deducts Income Tax from your monthly salary and deposits it to the government account.

You can submit your investment declaration through Quikchex online portal for Current Financial year (April 2025 to March 2026). These can be inputted through the “Tax Declarations” tab on your Quikchex dashboard. Do ensure that if you want to update your Investment Declaration (Online), then it must be done before 23rd April 2025 in order to get the same considered for tax calculation in April month's salary. If this is not done then your excess tax will get deducted from your monthly salary. 

To know which all Exemptions and Deduction will be considered as per Old and New tax regime and its guideline, please refer below link

https://quikchex.in/investment-options-will-save-tax-ultimate-guide/

How to submit Investment declaration online with Quikchex portal

Step 1: Login to your Quikchex Employee account

Step 2: Go to “Tax Declarations”

Step 3: Click on “Investment submission” 

Step 4: Next Click on Action button and then select  “New Declaration” to submit online Investment declaration.

Step 5: For more detail on which all deduction and exemption will be applicable, click on “Investment Guideline” available on same page

Effective 1st April 2025, as per the new income tax rule, the default regime will be NEW for all employees. Hence we have kept all the employees under the New regime. Those who wish to opt for “Old Tax Regime” will now have to select the option “Old Regime” to get tax benefit under old tax regime, or else your income tax will be deducted based on “New tax Regime”. You can use the Tax Calculator to choose the best regime for your Income tax Calculation.

The option to manage the "Tax regime" is available in “Investment Submission” page. Click on "Click here to update" to change the regime.

Points to consider while submitting investment declaration online;

1. You will get the declaration form with different sections in different tabs (for example Investment under 80C, Investments under 80 others, Rent Information, etc.)
2. Go to the appropriate tab and enter the required details (Exemption category, amount, Rent Information, Loan information, etc.)
3. To add more exemptions in the same batch, click on the “+Add More”  button.
4. To move to next tax, click on “Proceed” button
5. To submit the Investment declaration, on last tab “Hosing Loan Info” click on “Submit All Details”