Viewing Income Tax Declaration

You can view or add the Income tax declaration form of an employee. You can download the tax declaration form in a PDF format.

As an HR, you should be able to view changes in employee’s income tax liability and deductions by taking into consideration the changes in IT declaration.

To add the tax declaration:

On the HR menu, under Compensation Details, click Income Tax Declaration.

The Income Tax Declaration page appears.

In the Employee Search text box, enter the employee name/employee ID or employee ID or press SPACEBAR (on the keyboard) once to retrieve the list of employees and then select the employee from the list.

If the employee is a resigned employee, select the Resigned employee only check box and then click Go.

The details of the employee are displayed.

Income tax declaration details

Field	Description
Employee name	Displays the employee name.
Employee ID	Displays the employee ID.
Financial year	Displays the financial year for which the employee is declaring the returns.

The details displayed are:

This grid will display the current tax liability as well as the revised tax liability post of IT declaration changes of the employee.

‘Current Tax Liability’ shows Income Tax Liability of Previous Payroll.
‘Revised Tax Liability’ shows Income Tax Liability based on Income Tax Declaration done on Current Month (Increase / Decrease in Tax will be shown in Revised Tax Liability once Employee click on “Save” after making Changes in Income Tax Declaration Section e.g. Rent).
Click icon to view the income tax details.

The Income Tax Details window appears.

Click Close to close the window.

To download draft for future reference click icon.

Downloaded PDF should contain the date and time when the latest calculations were saved. It should auto update in IT declaration.

‘Last Saved Date’ shows the last updation done in Income Tax Declaration Section.

‘Current Tax Liability’ columns should fetch the data as per the CTC of the employee for the first month of the financial year.
Total tax, balance tax and expected tax deduction for the month will vary under ‘Revised Tax Liability’ column.

Expected tax deduction for the month should depend on balance tax.
Balance tax should depend on Total tax and tax deducted.
Tax deducted is the YTD tax deduction.
Total tax should vary depending on the changes made by the user in FBP and IT declaration.

Note 1: In Revised Tax Liability column Total Tax, tax deducted and Balance Tax should be the same as current tax liability till changes are made by the user in IT declaration.

Note 2: Expected tax deduction for the month should be Balance Tax/balance no of months as balance tax is the projections till March.

Note 3: The difference between the current tax liability and the revised tax liability in the expected tax deduction for the month fields is: (Expected tax deduction for the month under current tax liability - Expected tax deduction for the month under revised tax liability).

To enter the details of house rent paid by the employee during the year, click House rent tab.
In the Rent paid text box corresponding to each month, enter the amount of rent paid by the employee and then click Save.

The house rent details are saved successfully.

To enter investment details covered under U/S 80c of Income Tax act, click the U/S 80c tab.

The U/S 80c declaration details appears

U/S 80c declaration details

Field	Description
Particulars	Displays the particular investment that the employee want to include under U/s 80c
Maximum Amount	Displays the maximum amount that the employee can include under this particular investment
Amount (Rs)	Displays the amount the employee is investing

To enter details for any item in the list of particulars, enter the amount in the corresponding Amount text box and then click Save.
To enter the details of deductions under Chapter VI A, click the Chapter VI A tab.

The Chapter VI A details appear.

Chapter VI A declaration details

Field	Description
Particulars	Displays the particular investment to be included under Chapter VI A
Maximum Amount	Displays the maximum amount that the employee can include under this particular investment
Amount (Rs)	Displays the amount the employee is investing

To enter details for any item in the list of particulars, enter the amount in the corresponding Amount text box and then click Save.
To enter details of income return from house property, click the Income from house property tab.

The Income from House Property details appear.

Click on Click here to enter your details link.

The Calculator for Income/ Loss on House Property dialog box appears.

Select the Property is self occupied or Property is let out check boxes to enter the corresponding details and then click Ok or else click Cancel to exit the dialog box without saving.
Click Save.

To enter details of income that are exempt under section U/S 10, click the Exempt U/S 10 tab, enter the details.