INCOME TAX
FOR EVERY EMPLOYEE, EVERY MONTH
TeamUp works out each employee's yearly income tax, investment rebate and monthly deduction from the tax rules you set, and issues tax certificates at year end.
Salary tax handled inside payroll
Set your tax slabs once for each taxpayer category. TeamUp applies them to every employee and keeps the records you need at year end.
Taxpayer categories and slabs
Create a category for each group of taxpayers with its own slabs, and assign each employee a category. The top slab can cover all remaining income.
Exempt income, rebate and minimum tax
TeamUp exempts the lower of one-third of yearly gross or your set limit, applies the investment rebate and raises tax to the minimum amount where needed.
Monthly deduction
Yearly net tax is spread across the year, so the right amount is deducted from salary each month.
Declared investments
Record each employee's declared investments. TeamUp uses them to work out the investment rebate within the limits you set.
Vehicle and investment types
Keep your own lists of investment and vehicle types so declarations stay consistent.
e-TIN, zone and circle
Store each employee's e-TIN, tax zone, circle and return date with their salary details.
Tax certificates
Generate tax certificates for employees for each income year from their salary records.
Employee download
Employees pick the year and download their tax certificate from the Android app.
Income tax questions
Still have questions?
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Tax slabs, limits and percentages are settings, not fixed code. During setup we enter the current NBR rates with you, and you can update them yourself after each budget.
Yes. Each taxpayer category has its own slabs, so you can model different thresholds, such as for women or senior citizens, and assign employees to the right category.
The rebate is the lowest of a percentage of taxable income, a percentage of declared investment and a maximum amount. All three are set by you.
Yes. Employees can download their tax certificate for any income year from the Android app.