Accelerate Dividend Withholding Tax Processes
The Finance Act 2020 changed the taxation landscape for dividends, making it taxable in the hands of shareholders. For companies, this means withholding tax obligations for resident and non-resident shareholders, including the need to generate multiple Form 15CA/15CB filings.
Manually managing these filings for numerous shareholders is time-consuming and prone to errors. Our automated solution simplifies this complex process, enabling your organization to generate and file compliant XMLs efficiently while maintaining full accuracy and audit readiness.
We understand the Challenges
Manual Bottlenecks: It takes 15 mins in generating Form 15CA/15CB individually for each non-resident shareholders that results into labor-intensive and slow.
Data Gathering Hurdles: Collecting required shareholder information and verifying data for form accuracy.
Tax Rate Determination: Ensuring correct withholding rates based on the relevant DTAA reference, avoiding compliance risks.
Error Prone Processes : Increased chances of errors due to repetitive manual workflows.
The Smart Solution
Automated Input Validation: Validate over 50 fields in the input file to ensure complete and accurate data.
High-Speed XML Generation : Automate the creation of 40+ compliant XMLs per minute, significantly reducing manual effort.
Bulk Upload with Compression: Automatically compress XML files into a zip for streamlined bulk uploads to government portals.
Digital Signing and Filing:Use DSC integration for automated signing and submission on the income tax portal, ensuring end-to-end automation.
Error Tracking and Logs: Maintain detailed logs for audit readiness and compliance tracking.
How it Works?
Excel Line Items to Bulk XMLs Conversion Process
RPA Bot
Start
An Excel file with many line items
INPUT
Bot
OUTPUT
Bulk XMLs files – An XML for each line item
