Submitting investment declaration is a matter of concern for most Payroll/Finance Managers. Tax planning and investment declaration are to be done by the employees for tax exemption for the next financial year. Taxable Income will be computed based on this and subsequently, the tax will be deducted every month. The most important document in an investment declaration is the investment proof.
As you can see, the above process is quite tedious and time-consuming. With greytHR’s Proof Of Investment (POI) module completing this activity becomes quite easy and hassle-free. With greytHR’s POI module, you have:
- Automatic email alerts to employees that remind them to submit their Proof documents.
- Online review of documents by Administrators who then approve, reject or ask for additional information.
- Automatic Income Tax (TDS) recalculation in your Payroll without your having to do anything else. In a single click, lock the POI and include for payroll processing. Approve and forget!!