Side Effects of 26AS Reconciliation

26AS Reconciliation is not a year-end activity and shall be done quarterly. If done regularly, companies know beforehand about their customers who have not paid their invoices and deposited TDS with the government.

One recent example is that a customer of TaxReco reconciled 26AS form with their TDS Receivable ledger and sent email to customer regarding confirmation of TDS deposit. The result was all invoices were cleared and TDS was paid.

This is the time of the year when companies shall reconcile 26AS form with TDS Receivable ledger and follow up with customers who have not deposited TDS. By doing this, you can save #workingcapital

Tax deposited or to be paid to government goes from working capital and if you are able to claim it on time, it gets added to bottom line of your company