A Multinational Engineering Giant automates TDS Reconciliation and Claims Up to 95% Income Tax Credit

Summary

A multinational engineering leader operating across global markets faced recurring TDS refund losses and reporting inaccuracies due to manual reconciliation between Form 26AS and internal TDS ledgers. To address this, Cygnet implemented an RPA-driven automation solution that streamlined end-to-end TDS reconciliation, from extracting 26AS data and mapping records based on TAN to validating TDS amounts and identifying mismatches at the transaction level. This transformation significantly reduced reconciliation effort, improved accuracy, and enabled the organization to strengthen tax credit realization and compliance control.

Business Requirement

  • TDS refund loss: The supplier does not confirm TDS deductions on paper, so the client loses TDS refunds from the Income Tax Department. The client loses TDS when amounts are not reconciled.
  • Cumbersome manual reconciliation: Manually reconciling bulk transactions at a company level is cumbersome and time-consuming.
  • Erroneous reporting: Manual reconciliation between Form 26AS and the TDS ledger leads to erroneous reporting.

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