TDS Audit Checklist
Before closing the financial year, TDS Receivable and Payable data shall be audited to avoid surprises during the tax audit later
Accounting Basics, Accounting Process, Process Automation, Tax Audit, Tax Automation
Process Automation, Tax Automation, Tax Law Changes
TDS Reconciliation – Importance of KYC
Validation of TAN number and PAN Number is important for TDS Reconciliation. How companies can automate these processes to avoid notices and penalty from Income Tax Department
Process Automation, Tax Automation, Tax Strategy
Automation vs Manual – Which is better?
When it comes to choose between manual process and automated process, obvious response is Automated Process.
Accounting Process, BigData, Process Automation, Tax Automation, Tax Strategy, Tax Technology Startup, Tech Startup
Unleash the Power of Technology in Finance – Insights from Gartner and Deloitte
Deloitte’s recent survey on Income Tax digitalisation in India reveals that businesses are rapidly adopting tax technology, with large organizations leading the way. As the finance function evolves, technology is becoming integral to tax operations, enabling efficient compliance, data management, and future-readiness. Find out how organizations are leveraging technology for finance transformation.
BigData, Process Automation, Tax Automation, Tax Technology Startup, Tech Startup
Data is the New Oil
It is time for finance teams to have a software which they can use on daily basis to organize and analyze data.
Accounting Process, Process Automation, Tax Automation, Tax Strategy, Tax Technology Startup
Challenges in Automation of Form 3CD
Clause 34 (a) requires furnishing of certain details regarding the amount of payment on which tax was required to be deducted and whether the same has been deducted and deposited to the credit of Central Government.
Accounting Basics, Accounting Process, Tax Strategy, Tax Technology Startup
Transforming Finance through Tax Technology
#financetransformation “Transformation is the key” #taxautomation #taxtechnology
We read this often on social media and many companies have successfully transformed the way their finance department functions and are reaping the benefits of transformation viz.
Accounting Basics, Accounting Process, Process Automation, Tax Automation, Tax Strategy, Tax Technology Startup, Tech Startup
Automation of TDS Reconciliation – Is it necessary?
Tax Deducted at Source (TDS) is applicable on almost every purchase made by an organization,
whether goods or services.
Companies are supposed to deduct TDS as per Income Tax Act on behalf of Government and deposit
TDS on monthly basis. Non-compliance attracts penalties, disallowance of expenses and prosecution
in some cases.
Accounting Basics, Accounting Process, Tax Automation, Tax Strategy, Tax Technology Startup
Why is 26AS Reconciliation not a year-end activity?
With the end of Financial Year 2021-22, every company would start reconciling 26AS form with their TDS Receivable Ledger.
The amount of TDS/TCS appearing in form 26AS has to be claimed from the government, after reconciliation, when Income Tax Return is filed.
Accounting Process, Process Automation, Tax Automation, Tax Law Changes
How to reconcile TDS effectively?
TaxReco has been discussing it since Feb 2021 as to how TDS Section 194Q will impact or has already begun impacting the way that tax teams work in companies across industries.
For one thing, the spotlight has been put on Form 26AS reconciliation/ TDS Reconciliation