17
Jan
2023
Decoding Tax Deducted at Source (TDS) for Beginners
In recent years TDS has become a transaction tax and it is applicable on almost every transaction like GST. It is very important for a company/person to comply with TDS
By taxreco In Accounting Basics
In recent years TDS has become a transaction tax and it is applicable on almost every transaction like GST. It is very important for a company/person to comply with TDS
By taxreco In Accounting Process
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
By taxreco In Accounting Basics
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
By Avdhesh Sharma In Accounting Basics
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
By Sai Prasad Krishnamurthy 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
By Vijender Singh In Accounting Basics
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
By Avdhesh Sharma In Accounting Basics
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
By taxreco In Process Automation
The Mighty #TaxAudit The Income Tax Audit for the FY 2020-21 is in the news again. The date is extended one more time and there is a sigh of relief
By Avdhesh Sharma In Accounting Process
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
By taxreco In Process Automation
Last week, the Central Board of Direct Taxes (CBDT) extended due dates for compliance, return filings, tax audits, providing significant relief to taxpayers due to the pandemic. It was done well