This guide by Zoho explains how and when to process proof of investments for employees with Zoho Payroll.
Employees can reduce their taxable income by investing in a few investment options provided by the Government. If employees have made such investments, they will declare it in their IT Declaration. At the end of the fiscal year, they will be required to submit proofs for their investments. The organisation will process these proofs of investments, calculate the employees’ tax accordingly and submit the tax levied to the Government.
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