Modern CFO’s and tax Heads like to be on top of this by applying for Lower Deduction certificate at the beginning of the year, reconcile tax statements and keeping a check on net amount of tax as refund/to be paid.
Quarter 4 of the business is the time to check the pulse of 26AS Reconciliation at transaction level, preparing reconciliation statements and following up with clients.
May 31, 2023 is the last date to file Income Tax Return for Quarter 4 FY 2022-23 and companies need to ensure that they don’t miss deducting TDS on any
TDS is applicable on almost every sales transaction (of a company) whether services or material (for goods sales greater than INR 50 Lakhs). TDS deducted by customers is deposited with