House Rent Allowance (HRA) is provided by employers to employees to help them meet the cost of renting a home. HRA is a part of the salary package and is provided to employees to cover their rental expenses.
To enable/disable the monthly breakup for the HRA exemption option, the admin must perform the following actions:
From the greytHR Admin portal, navigate to the Settings icon > System Settings > Income Tax > Advanced Settings. The Advanced Settings page opens.
From the Financial Year dropdown list, select the required year.
From the Section dropdown list, select Exemption. The table displays the options as per your selection.
Select the ENABLE_NEW_HRENT_EXEMP_CALC row and double-click the cell under the Value column to type Yes/No as per your requirements.
Click Save to update the customization. A success message appears.
If you choose to select Yes to enable the HRA exemption, you can view the monthly breakup for HRA exemption on the Income Tax page.
To view the monthly breakup, the admin must perform the following actions:
From the greytHR Admin portal, navigate to Payroll > Payroll Inputs > Income Tax. The Income Tax page opens.
In the search employee search box, enter the required employee’s name or number. The page displays all the income tax components.
Select the Exemptions tab.
Under HRA Exemption, select Monthly Breakup. The HRA Exemption Monthly Breakup pop-up displays the month-wise breakup of HRA.
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
Feedback sent
We appreciate your effort and will try to fix the article