TDS Reconciliation Services in India | Ashok Anshit & Co – Chartered Accountants

Tax Deducted at Source (TDS) is a crucial component of India’s direct tax system. Every deductor is legally required to deduct tax at prescribed rates, deposit it with the government, file TDS returns on time, and ensure that the deducted tax correctly reflects in the deductee’s Form 26AS.

TDS Reconciliation is the process of matching TDS data across challans, returns, Form 26Q/24Q/27Q, and Form 26AS to identify and resolve discrepancies. Even a minor mismatch can lead to demand notices, penalties, interest, or loss of tax credit.

At Ashok Anshit & Co, we provide end-to-end TDS Reconciliation services to businesses, professionals, and individuals, ensuring accurate compliance, error-free filings, and complete peace of mind.

Why TDS Reconciliation is Important

Many taxpayers assume that filing TDS returns is the end of compliance. In reality, reconciliation is equally important. Without proper reconciliation:

TDS credit may not appear in Form 26AS
Deductees may face issues while filing Income Tax Returns
CPC may raise notices under Section 200A
Interest under Sections 201(1A) and penalties may apply

Key Reasons to Perform TDS Reconciliation:

Identify mismatches between TDS return and challan
Ensure correct PAN, amount, and section code
Avoid TDS demand notices
Ensure deductees receive full TDS credit
Maintain a clean compliance record

Common Issues Identified During TDS Reconciliation

Our experience at Ashok Anshit & Co shows that most TDS issues arise due to the following:

1. PAN Mismatch

Incorrect or invalid PAN details result in:

Higher TDS rates
Credit not reflecting in Form 26AS

2. Challan Mismatch

Incorrect BSR code
Wrong challan serial number
Incorrect amount allocation

3. Return vs 26AS Difference

TDS deducted and deposited but not reflected correctly in 26AS due to filing errors.

4. Section Code Errors

Wrong TDS section (e.g., 194C instead of 194J) causes mismatch and incorrect tax treatment.

5. Short Deduction or Non-Deduction

Incorrect rate application leads to:

Interest liability
Demand notices

Our TDS Reconciliation Services

At Ashok Anshit & Co, we follow a structured and systematic approach to TDS reconciliation.

🔹 1. Comprehensive Data Review

We collect and analyze:

Filed TDS returns (26Q, 24Q, 27Q)
Challans (OLTAS)
Form 26AS
Books of accounts

🔹 2. Detailed Reconciliation Report

We prepare a reconciliation statement highlighting:

Exact mismatches
Nature of error
Impact on tax liability
Corrective actions required

🔹 3. Correction Return Filing

We handle:

Online correction returns
PAN corrections
Challan corrections
Amount reallocations

🔹 4. Resolution of TDS Notices

If you have received:

Notice under Section 200A
Demand from TRACES or CPC

We manage the entire notice response and resolution process.

🔹 5. Deductee Credit Confirmation

We ensure TDS credit reflects properly in deductees’ Form 26AS, enabling smooth ITR filing.

Who Needs TDS Reconciliation Services?

Our services are ideal for:

Private Limited Companies
LLPs and Partnership Firms
Proprietorships
Startups and MSMEs
Professionals (Doctors, CAs, Lawyers)
Employers with salary TDS
Individuals facing TDS mismatch notices

TDS Forms Covered by Us

We provide reconciliation support for:

Form 24Q – Salary TDS
Form 26Q – Domestic payments
Form 27Q – Non-resident payments

Benefits of Choosing Ashok Anshit & Co

✔ Expert Chartered Accountants

Our team has deep expertise in TDS laws, TRACES portal, and Income Tax compliance.

✔ Error-Free Compliance

We ensure accurate reporting and minimize future mismatches.

✔ Notice Prevention & Resolution

Proactive reconciliation helps avoid penalties and unwanted scrutiny.

✔ Time & Cost Efficiency

Outsourcing reconciliation saves internal resources and compliance costs.

✔ Confidential & Secure Handling

Client data security and confidentiality are our top priorities.

TDS Reconciliation & Legal Compliance

Improper TDS compliance can lead to:

Interest @1%–1.5% per month
Penalty under Section 271H
Disallowance of expenses under Section 40(a)(ia)

Our reconciliation process ensures full compliance with the Income Tax Act, 1961, reducing legal and financial risks.

Why Regular TDS Reconciliation is Recommended

Instead of annual correction, we recommend:

Quarterly TDS reconciliation
Immediate correction after return filing
Continuous monitoring of Form 26AS

This proactive approach prevents last-minute complications.

Industry-Specific TDS Reconciliation Support

We offer customized reconciliation services for:

Manufacturing companies
Service-based businesses
E-commerce sellers
Construction contractors
Educational institutions

Technology-Driven TDS Reconciliation

At Ashok Anshit & Co, we use:

Advanced reconciliation tools
TRACES portal integration
Secure document handling systems

This ensures accuracy, speed, and transparency.

Why Ashok Anshit & Co?

Ashok Anshit & Co is a trusted Chartered Accountancy firm providing reliable tax and compliance solutions. Our commitment is to simplify complex tax processes and help clients stay compliant without stress.

Whether you are facing TDS mismatches, notices, or require regular reconciliation support, our experts are here to help.