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 Declaration button.
Projected Principal amount and Interest amount of the loan for that financial year.
Lender’s Name and PAN and Click Declare.
Fig: Add-Self-occupied Property
Let Out Property(Rented)
Navigate to Tax and Statutory Compliances → Tax Declaration → Income Under Section 24 → Rented.
If the employee is a landlord, provide the following details about their let out property.
Click the +Add Declaration button.
Update the Annual Rent Amount and Municipal Taxes Paid and click the Declare button.
The Net Annual Value, Standard Deduction and Net Income / Loss will be calculated based on the above inputs.
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