Interest on housing loan details is also claimed as an income tax deduction. This deduction is often available under the House Property section of the income tax law.
To add interest on housing loan details for an employee, the admin must perform the following actions;
- From the greytHR Admin portal, navigate to Payroll > Payroll inputs > Income Tax. The Income Tax page opens.
- From the Select an employee search box, search for the employee whose details you want to update.
- Under the House Property Income tab, in the Income from self-occupied property table, left-click the cell under the Amount column to enter the amount.
- In the Lender's Name text box and Lender's PAN number, enter the relevant details.
- Click Save to save the details.
- Click Recalculate to recalculate the Income Tax for the selected employee.
❓FAQs - To read more FAQs about Income Tax, click here.
📃Documentation - To learn more about Income Tax, click here.
▶Video - To watch the video on Income Tax, click here.
📢Product Update - To read our product update, click here.