Income Tax Taxation

How to Register on TDS TRACES Website?

The Income tax department introduced the concept of TDS TRACES, wherein the taxpayers and deductors can view, download the Challan details, rectify the mistakes made in previously filed returns, etc. This facility aims to ensure a smooth & hassle-free process of viewing, reconciling TDS/ TCS.

What is TDS TRACES?

TRACES stands for TDS Reconciliation Analysis and Correction Enabling System. The Income Tax Department has introduced this online facility to make the process efficient and make corrections of previously filed TDS returns. It avoids filing the revised returns for correction, which is a time consuming task.

Taxpayers and deductors can access the TRACES website and view TDS & TCS paid to check the details while filing the returns and seeking refunds.

How to register with TDS TRACES?

The registration on TDS TRACES can be done as taxpayers and deductors.

As a taxpayer

• Visit the website (www.tdscpc.gov.in).
• Select the option of the taxpayer and then click on the register as a new user.
• The applicant needs to provide the following details:
  • Name
  • Date of birth or in case of a company date of incorporation
  • PAN details
  • Verification code.
• After filling in these details, click on proceed.
• Further, the following details are required:
  • TDS or TCS details via Form 26AS or Form 16/ 16A
  • Statement details via Form 26QB
  • Details of advance tax, self-assessment tax, TDS on the property, paid from the challan.
• Click on proceed & then provide the communication details of the applicant.
• Then create an account and verify the details entered, and click on proceed.
• An activation link will be sent to the taxpayer’s registered email and mobile number; click on the link and activate the account.
• Then login TDS TRACES.

As a deductor

• Visit the website (www.tdscpc.gov.in)
• Select the option of the deductor and then click on the register as a new user.
• Fill in the requisite details., i.e.
  • TAN
  • Verification code.

The system will automatically detect the details such as Form type, Financial Year and Quarter.

• The deductor needs to enter the token number or the PRN (Provisional Receipt Number) of a TDS return.
• A valid CIN, BSR code, date of deposit, challan serial number, challan amount & CD record number must be provided.
• A maximum of 3 PAN- amount combinations can be entered by the deductor. Also, enter the TDS deposited as against the PAN.
• Then the deductor will receive an authentication code valid for the previous FY, Quarter & Form type. Enter the authentication code to proceed further.
• Click on proceed & then provide the communication details of the applicant.
• Then create an account and verify the details entered, and click on proceed.
• An activation link will be sent to the deductor’s registered email and mobile number; click on the link and activate the account.
• Then login TDS TRACES and avail the services provided therein.

What are the uses of TDS TRACES?

TDS TRACES website permits the taxpayers as well as TDS Deductors to carry out various activities including, but not limited to:

• File for TCS / TDS statement corrections
• View challan status
• Submit refund request online
• View & download Form 26AS
• Complete online correction of previously filed TDS return
• Check the status of various tax statement online
• Download consolidated file, justification report, and Form 16 & 16A (for TDS Deductors only)
• Online correction of OLTAS challan.

The TDS TRACES has replaced the complicated and paper-based system and allows the taxpayers & deductors to avail them online.

What are the facilities available in TDS TRACES?

The facilities that TDS TRACES provides to the taxpayer are:

• Download Form 26AS & Form 16B
• Verification of TDS certificate
• Aggregated TDS compliance report can be viewed or downloaded.

The facilities that TDS TRACES provides to the deductors are:

• Challan status can be viewed
• Download Form 16 & the justification report
• Online correction
• TDS Refund
• Check out TDS/ TCS credit against PAN
• Declaration of non – filing statement.

How to check TDS Challan on TRACES?

It is important to check the TDS details while filing your quarterly TDS or TCS returns. It can be done by login into the TRACES account. The challan status can be viewed by providing CIN (Challan Identification Number) or BIN (Book Identification Number) or by the period of payment.

The steps to check TDS Challan on TRACES are:

• Step 1: Log in to the TRACES portal using the credentials.
• Step 2: Then go to the statement or payment link in the top menu. Then click on Challan status from the drop-down menu.
• Step 3: Check the Challan status by CIN or BIN.

CIN

Select the CIN option to check the Challan status. Then select the payment period and click proceed. A list challan with the status information will appear.

BIN

Select the BIN option to check the Challan status. Then select the payment period and click go. Enter the BIN details and then click on view consumption details.

Conclusion

The Income tax department introduced the concept of TDS TRACES, wherein the taxpayers and deductors can view, download the Challan details, rectify the mistakes made in previously filed returns, etc. TRACES provide various features on its website for taxpayers and deductors.

Read our article:All about Online TDS Payment Challan