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Proof of Investment
Once the employees submit the proofs for the Income Under Section 24 for Self-Occupied and Rented, as payroll admin you need to either approve or reject them. To do this, Navigate to Tax and Statutory Compliances → Tax Declaration → Proof of ...
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
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 ...
NPS Rules
Navigate to Tax and Statutory Compliances → Statutory Components → NPS Rules. Click the Edit Icon. Set the NPS deduction percentage for employees. The auto-declaration and investment category are pre-defined in the system as per statutory compliance. ...
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 ...