How to reject an approved investment proof?

An investment proof is a document that provides evidence of an investment made by an employee. It serves as a record or verification of the investment activity and typically includes important details such as the name of the investor, the type of investment, the amount invested, the date of the investment, and any associated terms or conditions. Investment proofs are commonly used in various financial contexts, such as tax filings, audit purposes, or for personal record-keeping.

Having proper investment proofs is important for maintaining accurate financial records, calculating investment returns, and ensuring compliance with legal and regulatory requirements. It is advisable to keep these documents organized and readily accessible for future reference or potential inquiries.

However, there may be instances where the proof submitted by employees might not have enough details or the information provided is unclear. In these cases, the admin could choose to reject these investment proofs.

Now, let us see how an approved investment proof can be rejected - 

Go to the Payroll (1) section and click on Payroll Admin (2) where you will be directed to the Operations (3) tab.

Scroll down to find the Income Tax Declarations card and click on Income Tax Declarations Approvals.

Select the Pay Group and Financial Year using the dropdowns. You also select any additional filter and then click Run to generate the report.

A list of all the employees whose proofs have been approved will be displayed. Click Review Claims for the employee whose approved investment proof is to be rejected.

Here, select the particular declaration from the list on the left which needs to be reviewed or rejected. Click on Click here to update the status/details of this declaration.

You will get the details of the selected investment declaration where you can click on Reject along with adding a note as to why you are rejecting the particular investment proof.

An overlay window will appear asking to add a Comment (1). Once the comment has been added, click on Reject (2).

And that is how an approved declaration can be rejected.

The employee will receive an email trigger for investment proof rejection so that they can review and provide correct details.

Once the approved investment proof is rejected, the income tax amount of the employee will increase.

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