Transformation Stories
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For one of the largest commercial oil company in India

Challenge

  • High volume of transactions
  • Difficulty in updating current systems to comply with the new TCS regime
  • Increase in manual intervention to ensure accuracy of data so as to comply with the new provision
  • Lack of an appropriate solution in place for filing TCS returns within a short time frame
  • Inability to abide by the necessary compliances and regulations

Solution

  • Customised solution to handle transactions efficiently
  • Assistance in understanding the regime and its applicability
  • PAN verification and validation of certificates through automated TRACES integration
  • Adjustment of surplus across quarters
  • Corrective action in advance with Default Notice Forecaster( DNF)

Result

  • Processing large volumes of data ranging upto 40 lakhs in number
  • Timely filing of returns in a duration as short as 3 days
  • Completely compliant with the new TCS regime and updated with any new regulations as well
  • Robust solution reducing man hours and cost
  • Simplification of the tedious process and reduction of manual intervention
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