Guidelines to Declare Investments in Zoho Payroll

Investment Declarations help you to reduce your taxable income, so that you can maximise your take home pay. You can declare your proposed investments, expenses, losses and previous employment details (if any) in the form of a provisional statement known as the IT Declaration.

Things to keep in mind

How to declare investments

Editing the declared investments

You can make declarations under the following categories:

House Rent Details

If you live in a rented accommodation, you have to provide the following information

Home Loan

If you are repaying a home loan for a self-occupied property, you can claim tax benefits by providing the following information

Let Out Property Details

If you are a landlord, then you can provide the following details about the let out property.

80C Investments

Note: If you have contributed to the Provident Fund for the financial year, the annual contribution amount will be considered as an investment under section 80C automatically.

80D Investments

Other Investments

Investment declaration under other sources of Income

If you receive income from sources other than your current job, you have a legal obligation to declare and enjoy the tax benefits. If you want to add investments under this section, choose the investment section and enter the amount under the following categories.

Investment declaration under Other Allowance Details

If you want to add investments under this section, choose the investment section and enter the amount.

Previous employment

If you switch jobs in the middle of the financial year, your previous employer is entitled to give you the tax computation sheet that details the taxes deducted from your salary so far.

From the tax computation sheet you will be able to fill in the following information:

Switching Tax Regimes

If you want to switch tax regimes, you can do so before your employer runs the first payroll for the financial year provided, the IT Declaration is unlocked. Else, you can do it at the time of filing ITR.

Submit Declaration

Submit Declaration