Year end house property verification
Accessible to : Payroll Manager
This process is used for submission of the final house loan certificate which is provided by the banks from the employees. All house properties records which have been declared with a loan will be visible on this page.
There are two options
1. Release the process - in which case the employee will be notified and will
have to upload the final certificate. If the final certificate is not uploaded
the payroll for March cannot be processed.
2. Skip the process - if the process is skipped the year end certificate will
not required to be submitted and March tax calculation will be based on the provisional
certificate submitted by the employee.
You can select only one of the two options for a record and once you select an option it cannot be reversed.
To release the process, select the records and click on "Release Year End Process" button. You will see the popup shown below.
Click on "Yes". A notification will go to all selected employees informing them to update the final loan certificate.
When employees submit their final certificate you will be able to review and
approve the records as per the regular process of approving house income declarations.
You cannot run March payroll without taking the final certificate or skipping
the process. If the employee does not submit their final certificates you will
have to void the record or edit it and make the loan amount zero.
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