Transform Finance with TaxReco

SaaS Platform to automate TDS Applicability, Form 3CD as per clause 34 of IT Act & 26AS Reconciliation

Know More
TaxReco HomePage

Are you deducting the right amount of TDS at the right time?

TaxReco HomePage

Are you compliant for TDS on dividend?

TaxReco HomePage

Is your team’s productivity impacted by a large volume of expense data and receivable reconciliation?

TaxReco HomePage

Are you looking for a solution to help you share Form 16A with your vendors at the click of a button?

TaxReco HomePage

Are you able to reconcile your expense data with P&L on a line-by-line basis as required per clause 34A of IT Act?

TaxReco HomePage

Are you losing tax credits in 26AS because it was not reconciled in time?

TDS transformation covers all of the points mentioned above
and not just automation of TDS return filing.

If you are looking for solution of all above questions,
let’s connect to automate TDS completely and not just return filing

Why Automate Tax Reconciliation

Organizations operating in India attract different types of taxes on transactions like TDS, TCS, GST. One or all of these taxes are applicable to sales & purchase transactions. Tax compliance is an ongoing activity for organizations where companies need to file periodic returns for applicable taxes as per the timelines decided by Government of India (GOI).

Companies need to deduct TDS on transactions, reconcile TDS periodically by extracting transaction data from ERP systems & 26AS form from government portal to avoid penalties, leakages and audit risk.

TDS reconciliation output becomes the basis for return filing, refund claim or tax deposit.

  • Manual Reconciliation costs more than you think

    Tax teams spend more than 50% of their time in reconciling tax data manually. 80% of this time goes into repetitive non-productive tasks like data downloading, cleaning up, identifying data which is matching already. Moreover, it is a person dependent process and the output is as good as skill of the person doing the reconciliation

    01

  • Reconcile TDS as per Accounting Standards

    There are advance entries in 26AS form and TDS can only be booked if revenue is recognized. Manual reconciliation doesn’t allow user to go into such details. Reconciliation is not matching of two data sets at total level, it requires more detailing and actions need to be taken as per accounting standards

    02

  • Maintain an Audit Trail

    TDS reconciliation is a periodic activity and the output is checked by auditors in tax audit. Actions taken need to be explained. Manual transaction matching is person dependent; reconciliation is done at total level and not in detail. Companies don’t have audit trail for most of the actions taken and carry a significant amount of audit risk

    03

  • Keep your TDS reconciliation assessment ready

    Finance team have to report TDS reconciliation output to different stakeholders whether management, customers/vendors, auditors or authorities in case of assessment. It is very important to maintain Year on Year records in a standard format which is self explanatory

    04

  • Secure SaaS Platform

    TaxReco is hosted on AWS secure environment and built on multi tenant architecture to ensure data security

    svg
    01

  • Do It Yourself Platform

    TaxReco is an ERP agnostic DIY platform to reconcile & collaborate with customers and vendors

    svg
    02

  • Power of 1

    One platform for all tax reconciliations, communications and master data

    svg
    03

TaxReco - One platform for Corporate Tax Teams

TaxReco is a secure and robust cloud platform for Indian companies to reconcile TDS as per books, form 26AS with vendors & customers. Organizations can reconcile TDS at the click of a button their vendors and customers. TaxReco simplifies tax reconciliation by eliminating repetitive non-productive tasks, automating communication with stakeholders to improve productivity and audit trail.
Management reporting, reports required for auditors and return filing can be generated automatically. Year on Year records can be maintained to strengthen audit defence.

Play Video about TaxReco

Why TaxReco

  • Secure & Robust SaaS Platform

    TaxReco is a SaaS platform built on multi-tenant architecture to ensure data security, handle multiple entities with user level access control. TaxReco is hosted on Amazon Web Services (AWS) cloud infrastructure.

    svg

  • Do It Yourself Platform

    TaxReco is an ERP agnostic platform designed to ease working for users. It can consume data in different formats from multiple ERP systems. Companies can reconcile TDS on their own while maintain audit trailsvg

  • Automated Communications

    TaxReco allows users to communicate with all stakeholders involved in reconciliation whether customers, vendors, internal teams or management. Approximately 70% of customers or vendors do not reconcile completely when reconciliation is done first timesvg

  • Automated Reporting

    TaxReco allows users to take action on the basis of standard reports from the system. It gives visibility to management with root causes and actions taken by the team to avoid leakages.

    svg

Get in Touch

Let's collaborate to eliminate repetitive manual tasks in TDS reconciliation

Contact Us

Recent Blogs