How can admin add income/loss from the let-out property for an employee?

Income or loss from a rented-out property is a key component in calculating an individual's taxable income. It is the amount of money earned or incurred from owning and renting out a residential property. 

To add income/loss from let-out property for an employee, the admin must perform the following actions;

1. From the greytHR Admin portal, navigate to Payroll > Payroll inputs > Income Tax. The Income Tax page opens.
2. From the Select an employee search box, search for the employee whose details you want to update.
3. Under the House Property Income tab, in the Income from Let-out property table, left-click the cell under the Amount column to enter the amount against each detail in the Particular column.
4. Click Save to save the details. 
5. Click Recalculate to recalculate the income tax for the selected employee. 

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Related Links:

Video - To watch the Income Tax video, click here.

FAQs - To read more FAQs about Income Tax, click here.

Documentation - To read more about Income Tax, click here.

Product Update - To read about the product update, click here.