Challenges of tax/finance function

Automated reconciliation of TDS and Income between books and Form 168

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How our tech enabled managed services addressed the challenges?

Automated TCS or TDS reconciliation of voluminous transactions through use of our in-house 26AS Reconciliation solution
Auto data validation rules integrated to check single PAN against multiple parties and vice versa, PAN-TAN / TAN-TAN mapping features, inbuilt fuzzy logic to match names of parties etc.
Multiple parameters for TDS reconciliation – e.g., match including GST amount, one to many transactions, many to one transactions
Leveraged experience of our tax professionals and center of excellence team (COE) for scrutinising mismatches and possible actions required for TDS reconciliation
Provided comprehensive report with analytical dashboards giving overview of TCS or TDS available and potential leakages

The end-to-end TDS reconciliation process was managed by us.

Increased accuracy (more than 90 per cent reconciliation achieved) through technology enabled Form 26AS reconciliation solution
Highlighted TDS of INR 1.5 Cr+ as excess tax deducted by parties on GST value on which TDS should not have been deducted result in blocking of working capital