Automation vs Manual – Which is better?
When it comes to choose between manual process and automated process, obvious response is Automated Process.
Process Automation, Tax Automation, Tax Strategy
Technology
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.
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 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, Tax Automation, Tax Law Changes, Tax Strategy
New TDS sections 194R and 194S
01 July 2022 marked another important date for the TDS provisions. It marked the introduction of new sections under the TDS chapter of the Income Tax, 1961. It remains in line with the directive of the government to bring more and more accountability and transparency in the economy. This time the government targeted new areas of the TDS application.
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, Process Automation, Tax Automation, Tax Strategy, Tax Technology Startup, Tech Startup
26AS vs 16A for the reconciliation with TDS receivable
There has been confusion regarding this hot topic. The question is simply that if a business needs to reconcile then it should reconcile with 16A issued by the deductors or the tax credit statement of 26AS. To resolve this confusion, we need to be back to basics of the TDS receivable reconciliations.