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Tax Statement

The Tax Statement feature in PrismERP provides a comprehensive summary of an employee's income, deductions, exemptions, investments, and applicable tax calculations for a specific financial year. It acts as a consolidated report used for internal review, employee reference, and submission to tax authorities, ensuring transparency and compliance.

Key Features​

Generates yearly tax statement for each employee.

Includes:

  • Gross earnings
  • Taxable income
  • Tax-exempt components
  • Investment rebates
  • Monthly and total tax deductions

Reflects employer contributions and other relevant details.

Supports downloadable PDF or printable format.

Consolidated view for HR/Admin to audit and finalize tax returns.

Automatically reflects data from:

  • Salary Tax Calculation
  • Investment Return Manager
  • Exemption Policies
  • Payroll Components (Taxable/Non-taxable items)

How This Helps You​

Tax Statement is essential for maintaining transparency and accuracy in payroll tax management. It allows employees to:

  • Understand how their annual tax liability is calculated.
  • Review which salary components were taxable, and which were exempt.
  • See the impact of investment declarations on tax rebate.
  • Check monthly tax deductions made through payroll.

For HR or finance teams, this feature provides:

  • A standardized document for tax reporting to NBR (Bangladesh) or relevant authorities.
  • Simplified preparation of Form 16 equivalents.
  • Efficient tracking of employee-wise tax deduction trends.
  • Assurance of compliance with local tax rules.

How to Use this Feature in PrismERP?​

After configuring tax rules and completing salary processing:

  • Ensure all employee earnings, exemptions, and investments are up to date.
  • Navigate to the Tax Statement section under the Payroll Tax Management module.
  • Select the financial year and employee(s) for whom you want to generate the statement.

The system will automatically consolidate:

  • Gross salary details
  • Taxable & exempted income
  • Rebate from declared investments
  • Monthly deducted tax

Download or print the tax statement for:

  • Internal distribution
  • Government reporting
  • Employee submission with tax returns

TIN