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.
Looking for More Support?
Find answers and insights across our resources. Refer to our detailed Knowledge Base for in-depth articles, explore our practical video guides, and stay informed with our latest product updates.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article