How to check tds and reconcile it in audit??

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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?

CA Nischal Agrawal

CA Nischal Agrawal (Expert)
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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

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CA BHARATH KUMAR

CA BHARATH KUMAR (Expert)
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24 December 2012 you go to file section search tds reconcialiation

Ronak

Ronak (Expert)
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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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