# Income Tax - New Financial Year

### **How to change the financial year for income tax calculations?**

**Step 1**: Go to 'Income Tax' > 'Utilities' > 'Year End Transfer'.

![](https://4282324958-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MXep_PEmh8mDPVWj49x%2F-MYB3QzDbjFIPduhLn-j%2F-MYB3fQ2Gs5XFpQ2jc0a%2F12041.jpg?alt=media\&token=2c1d8527-972e-48d1-9ad1-880d8ab70c6c)

**Step 2:** Select the checkboxes for the companies and click on the 'Transfer' button to complete the process.

![](https://4282324958-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MXep_PEmh8mDPVWj49x%2F-MYB3QzDbjFIPduhLn-j%2F-MYB3jXmwyanXUgHNt76%2F12042.jpg?alt=media\&token=62215d71-8d36-4bf0-b68b-107548178b59)

***Note: If you are unable to transfer the income tax calculations to the next financial year, kindly contact us at*** [***support@pockethrms.com***](mailto:support@pockethrms.com)

### How to do the Challan Entry?

Log into the cloud portal, click on the ‘Income Tax’ menu and then select the ‘Transaction’ sub-menu followed by the ‘[Challan Entry](https://cloud.pockethrms.com/Itax/transaction/challanentry)’ option.

<figure><img src="https://4282324958-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MXep_PEmh8mDPVWj49x%2Fuploads%2FfNqwf946Lrhf11LIoNNG%2F0.png?alt=media" alt="" width="240"><figcaption></figcaption></figure>

Click on the ‘+’ button to add the month-wise challans. A pop-up window will open.

![](https://4282324958-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MXep_PEmh8mDPVWj49x%2Fuploads%2FPesog7cz9lwF7Nh6yT0O%2F1.png?alt=media)

Fill in the details in the form and click the ‘Save’ button.

<figure><img src="https://4282324958-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MXep_PEmh8mDPVWj49x%2Fuploads%2FZiag7dXtC4GRW68K9U8O%2Fetds%20challan.png?alt=media&#x26;token=9d65e3af-eddb-4bc7-9046-89d605606151" alt=""><figcaption></figcaption></figure>

For any queries, contact <support@pockethrms.com>