26AS Reconciler-Technology-enabled automated reconciliation

Description

26AS Reconciler is a technology enabled automated solution to match the entries in Form 26AS with the TDS receivable ledger. This tool is primarily designed to handle voluminous transactions and for better tax management. Our clients have seen significant reduction in advance tax of 2-3%.  Implementation is very simple and less time consuming and therefore helps in quick resolution of existing issues.

Need:

• Manual reconciliation is time consuming and a cumbersome process.
• The amounts in 26AS do not match the amounts in ledger due to the splitting or aggregating of amounts.
• Exact reason of mismatch that is if TDS is deducted but not deposited or TDS is deducted and deposited but not accounted in the books cannot be traced through manual reconciliation.
• Reconciliation for more than one year is not possible manually.

Benefits:

• Right from the downloading of 26AS to the matching of amounts based on the names in PAN Card the entire process is automated.
• The source of mismatch is identified to ensure smooth rectification The mismatches are auto mailed to the concerned vendors to ensure accuracy. Multiple year reconciliation is provided to ensure completeness.
• Voluminous Data handled with ease due to technology enabled automation.

Additional information