- Path: Transactions >>>IT Declaration
- The Code & the Name of the employee appears by default based on the code with which the employee has logged in.
- The following heads used for IT declaration appear in 8 different tabs .
- Housing Loan
- Leave travel
- House rent paid
- Rental income
- 6 A Part 1 ( Investment)
- 6 B Part 2 (Expenses)
- Other income
- Other tax paid
- Click the Housing loan tab
- Click Add Row to make an entry
- Housing Loan screen opens up for the employee to enter the details as shown below
- The following fields are available in the Housing loan screen to enter the respective details.
- Particulars - Employee to enter the Name of the bank/lender & address from where the loan is availed
- Remarks - To enter the reason/any other remarks for approval.
- Principal Paid - To enter the Principal paid for the whole year
- Interest paid - To enter the interest paid for the whole year
- Lender - To select the Lender from the pick list already created
- - To add the names of more lenders if required & update details
- Attachment - To attach Loan sanction document, amortization schedule or payment receipts for proof.
- Click the button Back to save the entry
- Click the Leave Travel tab
- Click Add Row to make an entry
- Leave Travel screen opens up for the employee to enter the details as shown below
- The following fields are available in the Leave travel screen to enter the respective details.
- Particulars - Employee to enter the Place , mode & date of travel
- Declared - Employee to enter the amount that he is declaring for IT deduction
- Approved - HR authorized person to enter the approved amount for IT deduction
- Remarks - To enter the reason/any other remarks for approval.
- Attachment - Employee to attach tickets/bills
- After entering all the fields Click Back to save the entry
- Click the House Rent paid tab
- Click Add Row to make an entry
- House Rent opens up for the employee to enter the details as shown below
- The following fields are available in the House Rent screen to enter the respective details.
- Particulars - Employee to enter the address of the house rented , Contact number of the Landlord etc.
- Remarks - HR authorized person to enter any reason/remarks for approval
- From Period - Date of the first month rent paid for the financial year
- To period - Date of the last month rent paid for the financial year
- Metro - Employee to select from the pick list if the house belongs to metro/non-metro
- Amount - Rent paid for the whole year
- Attachment - Employee to attach Lease agreement/Rent payment receipts if any
- Landlord - To select the name of the landlord from the pick list already created
- - To add the names of the landlords
- After entering all the fields specified above Click the button Back to save the entry
- Click the Rental Income tab
- Click Add Row to make an entry
- Rental Income screen opens up for the employee to enter the details as shown below
- The following fields are available in the House Rent screen to enter the respective details.
- Particulars - To enter the address of the house rented out, Contact number of the tenant etc.
- Remarks - To enter any additional information
- Total Annual rental Income - To enter Actual income received from the tenant for the whole year
- Local tax paid- Local Municipal taxes like house tax paid for the financial year
- Net annual value - (Rental Income - Local tax paid ) Gets automatically calculated
- Standard deduction - 30% of the Net annual value
- Interest on Borrowed capital - Interest paid for any loan taken for construction/purchase/repair of the House
- Total deductions - (Standard deduction + Interest on borrowed capital) Gets automatically calculated
- Net income value - ( Net annual value + Total deductions)
- Attachment - Employee to attach Lease agreement/Rent receipts issued if any/Tax paid receipts
- Tenant - To select the name of the tenant from the pick list already created
- - To add the names of tenants
- After entering all the above specified fields Click the button Back to save the entry
- 6 A Part 1 ( Investment)
- Click the respective tab
- Click Add Row to make an entry
- The respective screen opens up for the employee to enter the details as shown below
- The following fields are available in each of the above screens to enter the respective details.
- Section - To select the section from the pick list
- Particulars - To enter the details like Name of the Insurance, Investment Co & Policy No etc.
- Remarks - To enter additional information
- Declared - To enter the amount that the employee wishes to declare for the IT deduction
- Approved - To enter the amount that is approved for the IT deduction
- Attachment - To attach the documents like policy document, mutual fund document etc
Tab Name | SECTION | Particulars |
(6A Part 1) Investments |
80c | Investment in PPF |
80c | Employee’s share of PF contribution | |
80c | NSCs | |
80c | Life Insurance Premium payment | |
80c | Children’s Tuition Fee | |
80c | Principal Repayment of home loan | |
80c | Investment in Sukanya Samridhi Account | |
80c | ULIPS | |
80c | ELSS | |
80c | Sum paid to purchase deferred annuity | |
80c | Five year deposit scheme | |
80c | Senior Citizens savings scheme | |
80c | Subscription to notified securities/notified deposits scheme | |
80c | Contribution to notified Pension Fund set up by Mutual Fund or UTI. | |
80c | Subscription to Home Loan Account Scheme of the National Housing Bank | |
80c | Subscription to deposit scheme of a public sector or company engaged in providing housing finance | |
80c | Contribution to notified annuity Plan of LIC | |
80c | Subscription to equity shares/ debentures of an approved eligible issue | |
80c | Subscription to notified bonds of NABARD | |
80CCD (1B) | Sec 80CCD NPS (Max Rs 50,000/-) | |
80CCD (2) | Sec 80CCD(2) NPS (Employer Contribution) | |
(6a Part 2) Expenses |
6A2 | 80D : Medical Health Insurance (self) |
6A2 | 80D : Medical Health Insurance (Parents) | |
6A2 | 80E : Interest on Education Loan | |
6A2 | 80EE : First time home buyers. | |
6A2 | 80DD: Maintenance including medical treatment of a dependent with disability. | |
6A2 | 80DDB: Medical treatment on specified disease | |
6A2 | 80U : In case of a person with disability | |
6A2 | 80GG: Where House rent is paid and HRA not received | |
6A2 | 80GGA: Donations for Scientific Research or Rural Development | |
6A2 | 80GGC: Contributions to Political Parties | |
6A2 | 80TTA : Iinterest on deposits in Savings Account | |
6A2 | 80TTB : Interest from deposits held by Senior Citizens | |
6A2 | 80G : Donations | |
6A2 | 80EE1 : Interest on Home Loan for Affordable Home | |
6A2 | 80EEB : Interest on Auto Loan for Electric Vehicle | |
6A2 | Other Deductions,if any | |
Other Income |
INC | Mutual Fund Dividend |
INC | Savings Interest | |
INC | Other Income | |
Other Tax |
TAX | Capital Gains Tax (from Stocks & MFs) |
TAX | Capital Gains Tax (from Property) | |
TAX | Tax on Dividend | |
TAX | Other Tax | |
Contents
Revisions
- December 19, 2019 @ 17:57:08 [Current Revision] by arul
- December 19, 2019 @ 17:57:08 by arul
- December 19, 2019 @ 17:56:53 by arul
- December 19, 2019 @ 17:56:52 [Autosave] by arul
- December 19, 2019 @ 07:41:04 by arul
- December 19, 2019 @ 07:23:29 by arul
- December 19, 2019 @ 07:02:11 by arul
- December 19, 2019 @ 06:55:40 by arul
- December 19, 2019 @ 06:42:11 by arul
- December 19, 2019 @ 05:40:54 by arul
- December 18, 2019 @ 16:18:32 by arul
- December 18, 2019 @ 15:55:43 by arul
- December 18, 2019 @ 15:42:15 by arul
- December 18, 2019 @ 14:01:00 by arul
Revision Differences
There are no differences between the December 19, 2019 @ 17:57:08 revision and the current revision. (Maybe only post meta information was changed.)