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Digitalized solution the key to accurate reconciliation
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TDS/ TCS - Reconciliation with 26AS
TDS/TCS deducted or collected by one party is, in nature, an advance tax paid by the other party. But the benefit of this advance tax can be availed only when the details of TDS/TCS recorded in the 26AS statement issued financial year wise by the government tallies with the details recorded in the books of account of the other party. The process of reconciliation is time-consuming and, hence, best left to experts who can assist in the proper setting up of the digitalized process.
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