Self Service Income Tax: Employees save more, Accounts save time

The responsibility of verifying personal and income based declarations, and calculating income tax is very cumbersome for most organizations, primarily because the interaction is personal and individualized. Income Tax payees are usually senior and middle management who are very demanding of their rights, knowing very well that good tax planning leads to direct savings. Unless automated in a self service mode, the amount of work involved for the accounts function is very high.This leads to high stress situations in the final months of the year when deductions usually go up and declarations come in at the last minute.

KServeHRMS has added an income tax module, with self service capability to its suite of products. This means that employees can give their declarations, and view their projections based on income and declarations made. KServe Payroll is integrated to the income tax module and hence recommended deductions can be posted to payroll. Actual pay and deductions are posted back to the tax module. Statutory reports related to Form 16 and Form 24 Q, with the breakup by employee can be taken out automatically. The module can be implemented individually also.

 

For more information on this module visit :

 

www.KServeHRMS.com/IndiaIncometax.html