What is TDS Traces and its uses?
TRACES stand for TDS Reconciliation Analysis and Correction Enabling System. TDS Traces portal used for online TDS related information’s, TDS deposit, users as Taxpayers/Deductor can login after register, for using traces portal’s utility, view TDS, check TDS, online correction in TDS returns & downloading TDS form 16/16A, form 26AS, online verification TDS challan, check TDS payment details online etc.
The Income Tax Department of India oversees the TRACES (TDS Reconciliation Analysis and Correction Enabling System) web platform. Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) management are made easier by it. From signing in to downloading certificates to comprehending TDS on different incomes, this page has all the information you need to know about TRACES.
So, in simple terms TRACES portal managed all TDS related tasks like forms 16/16A/16B, TDS/TCS credit viewing, TDS certificate downloads, TDS return filing and correction etc.
TRACES TDS Login
Deductors must use their TAN (Tax Deduction and Collection Account Number) as the User ID in order to access the TRACES portal. This is how you do it:
Go to the webpage for TRACES: Go to the TRACES portal by opening your browser.
Put in your credentials: As the User ID, enter your TAN, password, and CAPTCHA code.
TRACES offers the ability to reset your password and User ID in case you forget them. To reset your credentials, click ‘Forgot User ID/Password’ and follow the instructions.
TDS Full Form
Tax Deducted at Source is referred to as TDS. In India, income tax is collected by this method, whereby taxes are withheld at the point of revenue generation.
- TDS Reconciliation for Traces: By guaranteeing that the TDS claimed by the deductee and the TDS deducted by the deductor match, TRACES helps in TDS reconciliation. Ensuring accuracy in tax filings and preventing discrepancies is crucial.
TDS for Diverse Amounts
TDS applicable on various sources of income such as Salary, rent, interest, professional fee etc. Deductor responsible for deduct a certain amount as per applicable tax rates and deposit to the government.
- TDS on Interest: When interest income—such as that from savings accounts, recurring deposits, and fixed deposits—exceeds specific thresholds, TDS is withheld.
- TDS on Rent: Section 194I imposes TDS on rent payments above INR 2,40,000 annually.
- TDS on Salary: Depending on the employee’s tax slab, employers deduct TDS from salary payments.
- TDS on FD Interest: If interest from fixed deposits above INR 40,000 annually, banks withhold TDS from the interest for FY 2023-24 (Assessment year 2024-25).
- TDS Section 194Jb: Under this section, professional or technical services are subject to a 10% TDS deduction.
Using the Income Tax Return Filing system to Access TRACES
TRACES Taxpayers may also utilize the Income Tax e-filing system ( portal for online ITR filing) to access TRACES. To be taken to TRACES, log into your Income Tax account, click ‘My Account’, then ‘View Form 26AS (Tax Credit)’.
What is TRACES NRI, TDS Status and TDS CPC?
- TDS CPC: TDS returns submitted through TRACES are processed by the Centralized Processing Cell for TDS.
- TDS Status: Go onto TRACES, select the ‘Statements / Payments’ section, and check the status of your TDS returns.
- TDS for Non-Resident Individuals: TRACES is another tool that non-resident Indians can utilize to control their TDS filings and deductions.
TDS Chart including Rates
The rates at which tax is withheld for different kinds of payments are shown in the TDS chart. Referring to this chart is crucial for deductors to make sure the proper TDS rates are applied.
TRACES Online Payment and TDS Challan
To make an online TDS payment:
- Enter TRACES and log in. Apply your password and TAN.
- Go to the section for payments. Select ‘Statements / Payments.’
- Complete the Challan Form: Fill out the challan form with all the required information.
- Pay Now: Make the online TDS payment.
- Obtaining TDS Certificates and Utility Downloads.
To obtain TDS certificates from TRACES (such as Forms 16A and 16B):
- Enter TRACES and log in. Make use of your credentials.
- Choose the Certificate. Select the appropriate form (16A, 16B and so on).
- TRACES offers a download application for TDS certificates that facilitates mass downloads.
- Getting Online TDS Information using TRACES: Taxpayers can go into TRACES and go to the ‘View TDS/TCS Credit’ section to view and download.
- TDS details, including the amount deducted and credited.
- The TRACES TDS Certificate password: The TDS certificates that were downloaded from TRACES require a password to access. Usually, the default password consists of your date of birth (DDMMYYYY) and PAN together.
Online TDS Return Submission:
- Get the return ready: Make use of the format that is specified.
- Enter TRACES and log in. Put in your login information.
- Put the File Online: Click on ‘Statements / Payments’ and choose ‘Upload TDS’.
- To finish the submission, adhere to the instructions.
TRACES Form 26AS
A consolidated tax statement, or Form 26AS, provides information on the taxpayer’s TDS, TCS, and other taxes paid. Obtaining Form 26AS.
To obtain Form 26AS via TRACES download:
- Enter TRACES and log in: Make use of your credentials.
- Proceed to Form 26AS: Navigate to the appropriate section.
- Download: To access the form, click ‘View / Download’.
- TDS Form 16 Online TRACES offers a comprehensive statement of TDS withheld from employees’ wages on Form 16, which employers can generate and download.
Read Also:
FAQ on TDS TRACES:
1. How is the TDS acknowledgment from TRACES downloaded?
To obtain the TDS acknowledgment from TRACES, sign in, go to the ‘Statements / Payments’ tab, and choose ‘Download Acknowledgment.’ Download the acknowledgment receipt after entering the necessary information, such as the TAN number and acknowledgment number.
2. How can I obtain a TRACES Form 26Q TDS certificate?
Log in to the TRACES portal, select ‘Form 26Q,’ and select the appropriate financial year and quarter to obtain the Form 26Q TDS certificate.
3. How can I see if TDS has been taken on TRACES?
Go to the ‘View TDS/TCS Credit’ area of the TRACES portal, input your PAN and the appropriate financial year, and then log in to check the amount of TDS deducted. This will show you the TDS that was withheld from your PAN within the designated time frame.
4. How can I submit an online TDS return in TRACES?
To submit your TDS return online using TRACES, first prepare it in the format required, then log in to the TRACES portal, navigate to the ‘Statements / Payments’ option, and choose ‘Upload TDS.’ To upload the file and submit it online, adhere to the instructions.
5. How can I use TRACES to generate a TDS certificate Form 16A?
To obtain a TDS certificate Form 16A from TRACES, sign in, go to the ‘Form 16A’ area, choose the appropriate fiscal year and quarter, and then click on ‘Request for Form 16A.’ The certificate can be downloaded after processing.
6. How can I get Form 16B, the TDS certificate, from TRACES?
In order to obtain the TDS certificate Form 16B from TRACES, one must first log in to the site, navigate to the ‘Form 16B’ area, input the necessary information, including the assessment year and PAN. Further select ‘View / Download’ to view the certificate in PDF format.
7. How would one access TDS TRACES?
Visit the TRACES portal, input your password, CAPTCHA code, and User ID (TAN number), and then click “Login” to access TDS TRACES.
8. How can the address in TDS TRACES be changed?
To modify the address in TDS TRACES, sign in to the website, navigate to the ‘Profile’ area, and choose ‘Update Address.’ Save the revised data after entering the new address information and submitting the adjustments.
9. How do I contact TRACES to obtain a PDF copy of my TDS certificate?
A TDS certificate from TRACES can be downloaded in PDF format by logging onto the portal, going to the appropriate certificate area (such as Form 16A or Form 16B), entering the necessary information, and selecting ‘View / Download’ to view the certificate in PDF format.
10. How can I obtain a TDS statement using TRACES?
Log in to the site, navigate to the ‘Statements / Payments’ section, choose ‘View TDS/TCS Credit,’ fill out the necessary information, then click ‘Download’ to obtain the TDS statement in either PDF or Excel format from TRACES.
11. How can I obtain a TRACES 26QB TDS certificate?
Log in to the site, go to the ’26QB’ area, provide the necessary information (PAN and assessment year), and
then click ‘View / Download’ to access the certificate in PDF format. This will let you to download the 26QB TDS certificate from TRACES.
12. How can I get my paid TDS challan from TRACES?
When you log in to the portal, navigate to the ‘Statements / Payments’ section, choose ‘View Challan Status,’ fill out the necessary information. Further click ‘Download’ to obtain the TDS paid challan from TRACES in PDF format.
13. How can I get Form 16A, the TDS certificate, from TRACES?
The TDS certificate Form 16A can be obtained from TRACES by logging in to the portal, selecting the appropriate financial year and quarter under the ‘Form 16A’ section, and then clicking on ‘Request for Form 16A.’
14. How may one obtain a TDS certificate using TRACES?
In order to obtain a TDS certificate from TRACES, one must first log in to the portal, proceed to the appropriate certificate area (such as Form 16A or Form 16B), fill out the necessary information, and then select ‘View / Download’ to view the certificate in PDF format.
15. How can I get the TRACES TDS return acknowledgment?
Proceed to the ‘Statements / Payments’ section of the site, log in, choose ‘Download Acknowledgment,’ fill out the necessary information, and click ‘Download’ to obtain the acknowledgment receipt for the TDS return from TRACES.
16. How can I get Form 16A, the TDS certificate, from TRACES?
Get the TDS certificate Form 16A from TRACES by logging in, going to the ‘Form 16A’ area, choosing the appropriate fiscal year and quarter, and then clicking on ‘Request for Form 16A’.
17. TDS TRACES: What are they?
The Income Tax Department of India oversees the TDS TRACES online platform, which enables taxpayers to access and manage their TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) information.
18. How are TDS TRACES obtained?
Visit the TRACES portal, register as a new user using your TAN (Tax Deduction and Collection Account Number), and generate a login ID and password in order to gain access to TDS TRACES.
19. Can I reset my password or user ID on TRACES?
Indeed, by selecting the ‘Forgot Password’ option on the login page and following the steps, you can reset your user ID or password on TRACES.
20. How can I make online corrections to my TDS returns on TRACES?
To make online corrections to TDS returns on TRACES, sign in, navigate to the ‘Statements / Payments’ section, choose ‘Request for Correction,’ and submit the updated TDS return file in accordance with the instructions given.
21. How can I view my TDS online on TRACES?
To view the details of TDS deducted and deposited, log in to the portal, navigate to the ‘View TDS/TCS Credit’ area, enter your PAN and the applicable financial year, and check TDS online on TRACES.
22. What kind of login issues might users encounter on TRACES?
Incorrect user IDs or passwords, expired passwords, browser compatibility issues, or network connectivity issues can all cause trouble for users trying to log into TRACES.
23. How does one go from the Income Tax portal to TRACES?
To obtain TRACES through the Income Tax portal, sign in to your Income Tax e-filing account, go to the ‘My Account’ area, and choose ‘View TDS Credit (Form 26AS).’ You’ll be taken to the TRACES portal as a result.
24. What applications does the TRACES site have?
Forms 16/16A/16B, TDS/TCS credit viewing, TDS certificate downloads, TDS return filing and correction, and other TDS-related tasks are all managed through the TRACES portal.