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08
Dec
2022
While we are automating TDS Reconciliation (26AS Reconciliation & 34A Reconciliation) for customers – I would like to share recent experiences and instead redefine the purpose of automation. Yes, automation can help you to improve productivity and accuracy but to reach that stage – some
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17
Nov
2022
Overview Technology can be the only solution Overcoming the tedious task
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26
Oct
2022
Overview Clause 34 of Tax Audit Report (Form 3CD) requires Tax Auditors to comment on the overall Tax Deducted at Source (TDS/TCS) compliances by the tax payers. In accordance with the guidelines issued by Institute of Chartered Accountants of India on this clause, the auditors
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21
Sep
2022
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. Able to file right compliances on time Have audit trail for all activities Real time management reporting Quick
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22
Aug
2022
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
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01
Aug
2022
The recon of the 34A is probably the most crucial recon of the Form 3CD. Usually, companies take the data as filled out in the TDS returns filed during the year and submit the same with the details from all the quarters. However, in order
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18
Jul
2022
In BigData
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. Typically, this is a 2-stage process. Stage 1: The users upload their
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06
Jul
2022
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
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13
Jun
2022
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
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19
May
2022
We at TaxReco are mainly focused on automating the cumbersome Tax Reconciliation process at large scale through a simple, unified and standard workflows and improving the productivity of our customers. Tax Reconciliation is a complex technical problem to solve especially at large scale. Much of