Income Under Section 24
Income Under Section 24
Let employees declare interest on housing loans under Section 24 — with configurable limits for self-occupied and let-out properties.
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.
Related Articles
Section Investment
TAX SECTIONS Section Investment Map allowed investment declarations to their tax sections — 80C, 80D, 80E, 80G — with caps and documentation rules. Sections 👥 WHO USES THIS ▸Payroll admins enabling sections ▸Finance setting section caps ▸HR guiding ...Income Tax Awareness FY 2026-27
Financial Year 2026–27 Income Tax Awareness — FY 2026–27 A complete reference on tax slabs, rebates, exemptions, and section-wise deductions so you can plan your declarations with confidence. ⏱ 10 min read 👥 All employees 📄 PDF • 451 KB • 13 pages ...Tax Section
TAX SECTIONS Tax Section Maintain the complete catalog of tax sections your organization uses — with descriptions, caps, and regime applicability. Section catalog 👥 WHO USES THIS ▸Payroll admins maintaining the catalog ▸Finance defining regime ...TDS History
TAX COMPLIANCES TDS History Access a complete TDS history by employee, cycle, or component — with drill-down into deductions and deposits. TDS history 👥 WHO USES THIS ▸Payroll admins tracking TDS ▸Finance reconciling deposits ▸Employees reviewing ...Tax Exemptions
TAX SECTIONS Tax Exemptions Configure salary components eligible for tax exemption — HRA, LTA, meal vouchers, and more — with proof tracking. Exemptions 👥 WHO USES THIS ▸Payroll admins defining exemptions ▸Finance configuring tax rules ▸HR designing ...