26AS Recon Solution

26AS reconciliation is an important direct tax function activity for every company in India & it needs to be performed regularly to assess if TDS is getting deducted & deposited correctly by the customers. Each payment made by the customer for goods or services supplied to them is deductible under TDS (Tax Deducted at Source) sections as per Income Tax Act.

Customers deduct TDS on the payments & deposit the deducted tax to the Income Tax Department monthly by filling TDS challans. TDS return is also submitted by customers on quarterly basis to link the TDS challan payment with the vendor who had provided them required goods or services. All the TDS deposited details submitted by the customers is available in the 26AS form which companies can download from the Income Tax portal. Reconciliation of TDS receivable ledger with the 26AS form becomes of paramount importance to understand if there is any discrepancies between the two data sets.

In order to automate 26AS reconciliation process, we are providing our 26AS recon cockpit solution to our clients & this solution can be configured directly in SAP & Oracle ERP.

Our 26AS cockpit solution combines the income ledger & TDS receivable ledger to determine how much TDS should be deposited by the customer. It then, compares the entries available in the 26AS with the SAP or Oracle ERP data to develop a detailed reconciliation report.

Features of our 26AS recon solution -