11

Software Requirements Specification (SRS) for Tax Saving Calculator

Introduction

Purpose:

The purpose of this document is to define the requirements for the development of a Tax Saving Calculator. This web-based application aims to guide users in optimizing their tax-saving investments and calculate potential tax savings. The application will be designed to provide clear instructions and explanations to ensure effective use by users.

Scope:

The Tax Saving Calculator will assist users in understanding and optimizing their tax-saving investments. It will consider various investment options eligible for tax deductions under Indian tax regulations. The application will be kept updated with the latest financial rules and regulations relevant to India.

System Overview

System Description:

The system will be a client-server application. Users will access the Tax Saving Calculator through a web browser. The server will handle the logic for tax-saving calculations and ensure data is up-to-date with the latest financial rules and regulations.

System Architecture:

The application will follow a three-tier architecture: presentation layer (client-side browser), application layer (server-side processing), and data layer (storage and retrieval of data).

Functional Requirements

Use Cases:

Optimize Tax-Saving Investments:

  • Users can input details such as income, investments, and expenses.
  • The system will guide users in selecting tax-saving investments based on the provided information.
  • The application will calculate and display potential tax savings.

Functional Requirements:

Input:

The system shall allow users to enter the following details:

  • Income details
  • Existing investments
  • Expenses
  • Users will select specific tax-saving investment options from a list.

Calculation:

  • The system shall guide users in optimizing tax-saving investments based on the input details.
  • The application will calculate potential tax savings considering eligible deductions.

Output:

  • The system shall display recommended tax-saving investments and the calculated potential tax savings.

External Interface Requirements

 User Interfaces:

  • The user interface shall consist of input fields for income details, existing investments, and expenses.
  • Users will select tax-saving investment options from a list provided.
  • Clear instructions and explanations will be provided alongside each input field and option.
  • The calculated potential tax savings shall be displayed prominently.

Hardware Interfaces:

  • The system should be compatible with standard computing hardware.

Software Interfaces:

  • The application will be developed using HTML, CSS, and JavaScript for the frontend.
  • The backend can be implemented using a server-side framework (e.g., Node.js, Django) with a database for data storage.
  • Regular updates will be performed to ensure compliance with the latest financial rules and regulations.

Communication Interfaces:

  • The application will communicate with the server for tax-saving calculations and to fetch updated financial rules and regulations.

Performance Requirements

Response Time:

The system should provide a response time of under 5 seconds for a typical user input.

Throughput:

The application should handle at least 50 simultaneous users.

System Constraints

Regulatory Requirements:

The application should comply with the latest Indian tax regulations.

Hardware Limitations:

The system should be compatible with devices supporting standard web browsers.

Security Requirements

Authentication:

User authentication may be implemented to personalize tax-saving recommendations.

Data Protection:

User data, if stored, should be securely protected.

Quality Attributes

Reliability:

  • The application should provide accurate tax-saving recommendations and potential savings.

Maintainability:

  • The code should be well-documented for ease of maintenance.
  • Regular updates will be performed to ensure compliance with the latest financial rules and regulations.

Usability:

  • The user interface should be intuitive, and clear instructions should be provided for effective use.

Testing Requirements

 Test Cases:

  • Test cases should cover various scenarios with different income levels, existing investments, and expenses.
  • The application’s ability to recommend tax-saving investments and calculate potential savings should be thoroughly tested.

Acceptance Criteria:

  • The application is considered successful if it provides accurate and relevant tax-saving recommendations based on user input.

Project Timeline

Milestones:

  • Design, Development, Testing, Deployment.
  • Regular updates for compliance with the latest financial rules and regulations.

Development Phases:

  • Frontend development, Backend development, Testing, Deployment.

Glossary

None

Database Structure

Tables:

TaxSaving_Calculator_Records:

  • RecordID (Primary Key, Auto-increment)
  • UserID (Foreign Key, if user accounts are implemented)
  • IncomeDetails (Decimal)
  • ExistingInvestments (Text)
  • Expenses (Decimal)
  • RecommendedInvestments (Text)
  • PotentialTaxSavings (Decimal)
  • CalculationDate (DateTime)

Conclusion

This SRS document outlines the requirements for the Tax Saving Calculator. It aims to provide users with effective guidance on optimizing tax-saving investments while ensuring compliance with the latest financial rules and regulations in India. Regular updates and thorough testing are essential for the success of the application. Review and approval by relevant stakeholders are crucial before proceeding with the development phase.

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