How to check tds and reconcile it in audit??
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 December 2012
how to reconcile tds in audit and heck actually if paid or not? plese let me know?
21 December 2012
what do you mean by reconciliation of tds ? reconciliation with what ?
You can check whether all expenses on which tds is applicable thereon tds has been deducted or not and at correct rate
Secondly to very whether tds has been duly deposited you can check the bank account for payment towards the same or you can verify the same from nsdl site by registering the pan number
You can check whether all expenses on which tds is applicable thereon tds has been deducted or not and at correct rate
Secondly to very whether tds has been duly deposited you can check the bank account for payment towards the same or you can verify the same from nsdl site by registering the pan number
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24 December 2012
you go to file section search tds reconcialiation
23 June 2014
First of alL, make expense working in excel partywise. The amount of expense will tally with trial balance.Then basis the nature of assessee apply the tds rates what shoula have been deducted and then compare it with what have been deducted by the concerned assessee. This working will show you about whether the tds has been correctly deducted or not. Then check the tds which has been deducted has been paid to the government or not. Hope it clarifies.
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