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Tis and ais

Sayed Nabil (385 Points)

04 September 2024

how to match tis and ais from income tax to tally data

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Rama chary Rachakonda (Master in Accounts & high court Advocate) (8603 Points)
Replied 05 September 2024

Matching TIS (Tax Invoice Statement) and AIS (Accounting Information Statement) from income tax to Tally data can be a bit complex. Here's a step-by-step guide to help you match them: TIS (Tax Invoice Statement): 1. _Download TIS_: Get the TIS report from the income tax portal. 2. _Identify invoices_: Match the invoices in TIS with those in your Tally data. 3. _Verify details_: Ensure the invoice numbers, dates, and amounts match. AIS (Accounting Information Statement): 1. _Download AIS_: Get the AIS report from the income tax portal. 2. _Identify transactions_: Match the transactions in AIS with those in your Tally data. 3. _Verify details_: Ensure the transaction dates, amounts, and types (e.g., sales, purchases) match. To match TIS and AIS with Tally data: 1. _Use the Tally audit log_: Compare the audit log with TIS and AIS reports. 2. _Reconcile invoices and transactions_: Ensure all invoices and transactions are accounted for. 3. _Verify GST rates and amounts_: Confirm that GST rates and amounts match. If discrepancies arise: 1. _Investigate and resolve_: Identify and resolve any errors or discrepancies. 2. _Consult a tax professional_: If needed, consult a tax professional or chartered accountant for assistance. Remember to regularly reconcile your Tally data with TIS and AIS reports to ensure accuracy and compliance.

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