Introduction
Investment declaration is an important part of an employee’s financial planning as it directly impacts the calculation of TDS (Tax Deducted at Source). By submitting accurate declarations, employees ensure that they can claim eligible tax deductions and exemptions, which ultimately helps in reducing tax liability.
uKnowva HRMS simplifies this entire process by providing employees with a digital platform to declare, view, and manage their investments in a few simple steps.
Instead of manually submitting forms and following up with the HR or finance team, employees can log into their HRMS account and handle everything from selecting the financial year and tax regime to downloading forms for tax filing.
This not only saves time but also ensures accuracy, transparency, and convenience throughout the year.
Step 1: Accessing the Investment Declaration Page
To begin, go to the side navigation bar in your uKnowva HRMS account and click on the My Finance menu. From there, select the Investment Declaration sub-menu.
Once you click on it, a new page will open where you can manage all your investment-related details for the chosen financial year.
Step 2: Selecting Financial Year and Tax Regime
On the Investment Declaration page, the first step is to select the Financial Year for which you want to declare your investments and choose the applicable Tax Regime.
This ensures that the system calculates your TDS according to the correct financial rules and regulations.
After selecting these options, you can view a summary of your TDS calculations for the year.
Step 3: Viewing Your TDS Calculations
To check the detailed breakdown of your TDS, click on the Show TDS Calculations button. This will open a new page that displays your TDS computations for the selected financial year.
On this page, you will also find the option to download the Form 16B by clicking on the Export Form 16B button at the top.
This form can be used later while filing your income tax returns, making the process seamless and hassle-free.
Step 4: Printing All Investment Details
If you want a record of your declared investments in one place, you can click on the Print All Investment button available on the Investment Declaration page.
This feature allows you to print the entire list of your investment details, making it easier to maintain physical records if required or download it in PDF form for the record.
Step 5: Managing and Updating Investment Particulars
On the same page, you will see a table that lists all your investment particulars under the following headers: Particulars, Action, Amount (Rs), and Status.
To make changes to any particular investment, such as Sec.10(13A) House Rent Allowance, Deduction of interest on borrowings, or Section 80C investments, click on the pen icon in the Action column.
This will open a new page where you can edit the details as per your requirements.
Once you have made the necessary changes, be sure to click on the Save button to update your information. If you decide not to make any changes, you can click the Cancel button to discard them.
Conclusion
That’s it!
You’ve now successfully managed your investment declaration statement in uKnowva HRMS.
By following this process, you can ensure that your investment details are correctly declared, TDS is calculated accurately, and all required forms are readily available for tax filing.
This system eliminates the need for manual submissions, reduces errors, and provides employees with a transparent and efficient way to manage their tax-saving investments.
If you have any questions or need additional support, feel free to contact us at This email address is being protected from spambots. You need JavaScript enabled to view it..