Shashidhar Jayaraman
Chief Business Officer
Overview
In recent years, with the scope of reporting by tax administration increasingly growing wider, businesses find it challenging to bring their entire supply chain within the ambit of Tax Deducted at Source (TDS) provisions and manage the compliance and reporting requirements seamlessly. Businesses are facing challenges in tracking TDS on expenses owing to voluminous data, master data verification and tracking, financial risk management, and compliance & litigation management.
Digital governance is thus imperative to overcoming the challenge of tax teams, auditors and consultants not having adequate visibility on important areas such as tracking the status of compliances and instances of non-compliances, understanding the impact of non-compliances, etc.
Our TDS Catch – Expense Solution is designed to provide a seamless digitised process for the management of the entire journey of Withholding Tax – TDS / TCS compliance requirements. It has a validation engine to check TDS / TCS that should have been deducted vs what was actually deducted, thereby helping in the early assessment of risks on appropriate TDS deducted, management of quarterly TDS returns and reporting of Clause 34a of the Tax Audit Report.
How BDO India Can Help
Our solution provides a seamless digitised process for the management of monthly/ quarterly/ annual TDS compliance requirements. It helps in the early assessment of risks on account of non-compliance with TDS provisions under the Income-tax Act.
