How can admin add deduction details related to Chapter VIA for an employee?

Created by Product Content Team, Modified on Tue, 1 Jul at 9:50 AM by Product Content Team


Chapter VIA is a section of the Income Tax Act in India, which outlines various deductions available to reduce taxable income. 


To add deduction details related to Chapter VIA 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 Deductions tab, from the Section dropdown list, select 80C and Others. The table displays the related components.
  4. Under the Narration column, double-click an empty row and select the component related to Chapter VIA. The Section and Max Limit amount automatically display.
  5. Double-click the cell under the Gross column to enter the amount employee has invested in the scheme. The Qualifying amount automatically displays.
  6. Select the checkbox under the Proof column, if applicable.
  7. Double-click the cell under the Remarks column to add remarks, if any.
  8. Click Save to save the deduction details related to Chapter VIA. 
  9. 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.

 

Want to explore more features on greytHR? Talk to Us!  


Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select at least one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article