Investment Declaration

The Investment Declaration module in Portico™ allows employees to plan and manage their investment declarations without time consuming help and support from HR. Declarations can be created and updated any number of times, until the cut off period set by the organisation.

Tax Calculator
The declaration form contains tips and limits that help make tax planning and investment declarations extremely easy. The linked Tax calculator displays the impact on tax liability and employees can declare investments to be either ‘Estimated’ or ‘Actual’.

Document Submission
Scanned copies of investment proofs can be uploaded during year end submissions and, once verified, details are updated online with comments. Employees are alerted by email about their proofs and can take any required additional steps before the payroll deadline. The data is accessible online at all times which helps in resolving issues as the employee and the payroll provider always access the same documents.

Workflow
Click here to view the Investment Declaration workflow.

Summary

• Complete flexibility to update investment declarations under various Income Tax sections
• User friendly declaration forms linked to a Tax Calculator to check the impact on tax liability, on real time basis
• Flexibility to define cut-off dates for updating investment declarations for employees and HR Managers
• Actual Investments proofs can be uploaded online for quick and secure access anytime. In addition to cost and space savings, there is a significant reduction in errors as all parties access the same documents always