Introduction
Investment declarations play a crucial role in calculating accurate tax liabilities and enabling eligible deductions for employees.
In uKnowva HRMS, administrators can configure the Investment Declaration module to suit their organization's income tax declaration policies.
This ensures smooth collection, validation, and approval of employee investment details for income tax computation purposes.
The configuration options allow you to customize declaration workflows, set proof requirements, define salary heads for allowances, and choose who should approve declarations.
By setting this up correctly, you help employees make timely declarations and streamline tax-proof submissions while enabling accurate payroll processing.
Step 1: Accessing the Configuration Area
To begin setting up the investment declarations module, log in to your uKnowva HRMS instance and navigate to the top-right corner of the screen.
Click on your profile picture to open a list of system options. From the dropdown, choose uKnowva Configuration, which will load the main configuration dashboard.
On the left side of this interface, you will see several menus such as Plugin Manager, User Manager, and Apps Manager.
From these, select Apps Manager to open the list of apps installed on your system.
Step 2: Locating and Opening the Investment Declaration App
In the Apps Manager section, scroll through the list of applications or use the search bar to locate the Investment Declaration app.
Ensure that the app is both installed and published before proceeding.
Once you find it, click on the app name to open a configuration pop-up window that includes a range of investment-related settings.
Step 3: Configuring the Declaration Options and Approvals
Within the configuration pop-up, you will see several toggle-based options that determine how the investment declarations will function in your system.
The Allow Users to Select/Change Their Regime option enables employees to choose between the old and new tax regimes.
When enabled, this gives users flexibility in planning their taxes.
Next, the Allow Users to Declare Investments toggle allows employees to submit their investment plans, such as HRA, LTA, or 80C components, within the HRMS.
If you want to ensure documentation, you can activate the Proofs Mandatory option, which will require users to upload supporting documents when submitting their declarations.
You can also enable Auto Approve Investments if you prefer a hands-off approach where declarations get accepted automatically.
If approval is necessary, you’ll need to define an approver under the Approver field. This drop-down allows you to select from roles such as HR Manager, uKnowva Admins, Immediate Reporting Manager, or Other User.
Once selected, another field called Select Approver appears where you can specify the exact user, if applicable.
To streamline the process further, toggle on Notify Approver when a user declares his/her investment and approval is on, so approvers receive instant updates on new submissions.
Step 4: Defining Salary Heads and Deduction Fields
Below the approval settings, you’ll find various configuration fields to align investment declarations with your organization’s salary structure.
Enter values for fields like Salary Head for DA and Salary Head for HRA to match the system’s earnings components with tax-deductible heads.
Configure the City Options for HRA based on location-specific HRA exemptions.
Similarly, enter values for Travel Allowance, Child Allowance, and Max Medical Allowance to enforce caps on each deductible.
You can also set available options for deductions like Loan Availed For, Mediclaim Options, and Medical Treatment Options under 80DD, among others.
These options help customize the experience for users while ensuring compliance with the latest Income Tax rules.
Once you’ve entered all required information, click the Save button to apply changes or click Cancel to discard them.
Conclusion
That’s it!
You’ve now successfully configured the Investment Declaration module in uKnowva HRMS.
By following this process, you enable employees to submit their tax-saving declarations seamlessly and provide a structured approval process for HR managers and payroll admins.
This setup ensures better tax compliance, simplifies document handling, and improves the accuracy of payroll deductions.
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