KPMG 26AS Reconciler - Case Study

Technology enabled managed services for TCS or TDS reconciliation between Form 26AS and books of accounts
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Challenges of tax/finance function

  1. Manual Form 26AS reconciliation with books of accounts is time consuming
  2. Manual Form 26AS reconciliation with books of accounts is time consuming
  3. Lack of visibility on overall TCS or TDS receivable.

How our tech enabled managed services addressed the challenges?

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  1. Automated TCS or TDS reconciliation of voluminous transactions through use of our in-house 26AS Reconciliation solution
  2. Auto data validation rules integrated to check single PAN against multiple parties and vice versa, PAN-TAN / TAN-TAN mapping features, inbuilt fuzzy logic to match names of parties etc.
  3. Multiple parameters for TDS reconciliation – e.g., match including GST amount, one to many transactions, many to one transactions
  4. Leveraged experience of our tax professionals and center of excellence team (COE) for scrutinising mismatches and possible actions required for TDS reconciliation
  5. Provided comprehensive report with analytical dashboards giving overview of TCS or TDS available and potential leakages

The end-to-end TDS reconciliation process was managed by us.

Outcomes

  1. Increased accuracy (more than 90 per cent reconciliation achieved) through technology enabled Form 26AS reconciliation solution
  2. Highlighted TDS of INR 1.5 Cr+ as excess tax deducted by parties on GST value on which TDS should not have been deducted result in blocking of working capital
  1. Significant reduction in time and effort spent by client team on TDS reconciliation process with enhanced digital governance.

Key Contacts

Rajeev Dimri

National Head of Tax

KPMG in India

Ajay Mehra

Non-Executive Chairman

KPMG in India

Gaurav Mehndiratta

Partner and National Head, Corporate and International Tax

KPMG in India

Rahul Kashikar

Partner, Head - Tax Technology and Transformation I Partner - Corporate International Tax

KPMG in India

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