Simplifying Advance Tax Computation with the power of Analytics

Challenge

Having a handle on all your tax data is critical — especially when you need all your tax-relevant data at the speed of business, because this can lead to risk exposure and increase in penalties linked to it. Our Client – India’s leading electronic stock exchange was keen to adopt data-driven analytics to improve the flow, control, and visibility of it’s tax-related data.

Their current tax litigation process, was quite complex and completely manual and was susceptible to critical errors and risks. Data dependencies from four different sources, namely NFA, Treasury, FAMS, and Payroll added to the complexity. The system was laced with issues like data inaccuracies, workflow inefficiencies, and transactional opacity. They wanted to build a Tax data infrastructure along with visualization.

They needed a solution that would not only help them in managing the taxation process more effectively, but also ensure better compliance, accurate reconciliation, and timely filing of returns.

Download our case study to know how NSEIT data experts helped the client to do away with their advance tax data worries and enhanced the value of the tax function in their organization.