1. Implementing Payroll for India
  2. Declare Investments in Section 80C

Declare Investments in Section 80C

Capture the details of the various investments, which are considered for the employees' income tax computation in the payroll process.

Here are the various investments considered in Section 80C:

  • Life Insurance Premium

  • Public Provident Fund (PPF)

  • Unit Linked Insurance Plan (ULIP)

  • Sukanya Samriddhi Scheme

  • Children Education Tuition fees

  • National Saving Certificate (NSC)

  • Infrastructure Bonds

  • Mutual Funds

  • Equity Linked Saving Scheme (ELSS)

  • Term Deposit Amount

As a Payroll User, you can enter the details for any of the investment schemes applicable for the employee in the current financial year. The total values invested in the different schemes are summed up and considered for income tax computation.

Declare Investments

Here's how you can capture the details of investments in section 80C:

  1. As a Payroll User, from the home page navigate to Payroll Calculation > Manage Person > Manage Calculation Card > Income Tax Deductions > Complete Investment Declaration > Deductions under Chapter VIA .

  2. From the dropdown list, select Deductions under 80C.

    Declare the invested amount in any of the schemes in section 80C, in this page.

    S No. Field Necessity Description
    1

    Life Insurance Premium

    Optional

    Enter the life insurance premium amount in the current financial year.
    2

    Public Provident Fund (PPF)

    Optional

    Enter the public provident fund amount.
    3

    Unit Linked Insurance Plan (ULIP)

    Optional

    Enter the unit link insurance plan amount.
    4

    Sukanya Samriddhi Scheme

    Optional

    Enter the life insurance premium amount.
    5

    Children Education Tuition fees

    Optional

    Enter the children tuition fees amount paid for the academic year.
    6

    National Saving Certificate (NSC)

    Optional

    Enter the amount invested in national saving's scheme in the current financial year..
    7

    Infrastructure Bonds

    Optional

    Enter the infrastructure bonds amount.
    8

    Mutual Funds

    Optional

    Enter the mutual funds amount.
    9

    Equity Linked Saving Scheme (ELSS)

    Optional

    Enter the amount invested in equity linked saving scheme.
    10

    Term Deposit Amount

    Optional

    Enter the amount invested in term deposits.

  3. Click Submit.