Why are employees not able to declare their investments in Keka?

Income tax declaration is a legal requirement for employees to report their income and tax liabilities. It includes details about earnings, deductions, and exemptions, which determine the amount of tax owed. For correct tax deductions (TDS) by employers, employees provide details regarding their investments and incomes every financial year.

In case employees are unable to declare their investments, the most likely scenario is that the either monthly or the last date for declaring investments has already passed. These cut-off dates are in place so that there is no discrepancy during salary processing because of frequent changes in the declarations.

For example please check the screenshot below.

In this case, existing employees will be able to declare their their investments only from 1 to 25 of every month. They will not be able to make any changes in their investments from 26 to the last day of the month. Also, the last date for declaring investments for the financial year is Jan 25. So after Jan 25, they will not be able to make any changes to their tax declarations. And for new Employees, joining after Jan 25, they will have time to declare their investments either 30 days from joining or before Feb 25 whichever is earlier.

Hope the reason why an employee may not be able to declare their investments is now clear. Need more help? You can refer to the other articles available or Contact us!