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What is the meaning of transaction date and date of booking mentioned in form 26AS? Transaction date means the date on which the TDS was deducted / submitted in the return filed by
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How does reconciliation happen over multiple accounting periods? Reconciliation is a continuous activity but when it comes to 26AS reconciliation, the first and last quarter of an accounting year have
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How frequently should a company reconcile TDS receivable ledger with Form 26AS? The objective of 26AS reconciliation is to match the transactions done with a particular customer to ensure whether
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What are the next steps if transactions are missing from Form 26AS or TDS Receivables ledger? Companies need to follow up with their customers or invoicing team once they identify
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Why do we need reconciliation of TDS Receivables? Rule 37BA of the Income Tax Rules TDS Credit is allowed when the corresponding income is accounted in the income tax return.
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What are 16As and 26AS and how they are linked / different from one another? 16A vs 26AS The certificate in form 16A is the certificate issued by the deductor
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What is Form 26AS? Form 26AS is a consolidated annual tax statement that shows the details of tax deducted at source(TDS), tax collected at source(TCS), advance tax paid by the