Data Cleaning & Data Transformation
TaxReco’s Data Transformation Module can automate data cleaning and transformation activity, which is essential before TDS Payable reconciliation
BigData, Process Automation, Tax Audit, Tax Automation
Automate Tax Reconciliation
Accounting Basics, Accounting Process, Process Automation, Tax Audit, Tax Automation
TDS Audit Checklist
Before closing the financial year, TDS Receivable and Payable data shall be audited to avoid surprises during the tax audit later
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, 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.
Process Automation, Tax Automation, Tax Strategy, Tax Technology Startup, Tech Startup
Future of Tax Function
Technology has made inroads into every function of business. How can tax function stay away from this?
Accounting Process, Process Automation, Tax Automation, Tax Strategy, Tax Technology Startup
Objectives of Reconciliation Automation
While we are automating TDS Reconciliation (26AS Reconciliation & 34A Reconciliation) for customers – we would like to share recent experiences and instead redefine the purpose of automation.
BigData, Process Automation, Tax Automation, Tax Strategy, Tax Technology Startup, Tech Startup
Probabilistic Data Structures in the world of large data processing
We at TaxReco typically deal with large datasets for a variety of customers.Our Reconciliation Engine has got a suite of comprehensive matching algorithms to match the financial transactions from different data sources.
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.