TRACES stands for TDS Reconciliation Analysis and Correction Enabling System and has been set up by TDS Centralised Processing Cell of the income-tax department.
TRACES will integrate the following components
- Tax information Network
- Automated TDS Challan Matching
- TDS Defaults Processing
- IVR/ Call Centre
- Web Portal
New Web Portal : https://www.tdscpc.gov.in
The new portal has been created using latest technology to enhance swift interaction between the deductor,
deductee, income-tax department and CPC. The following features are/ will be available to deductors and deductees
- Dashboard giving summary of Deductors account
- Online registration of TAN
- Online filing of TDS Statements
- Online corrections of TDS statements
- Default Resolution
- View Form 26AS
- Download Form 16/16A/Consolidated TDS File
- Grievance registration and resolution
Not all of the above features have been activated so far
NSDL web site V/s TRACES web Site : Current Status
Currently several online services are provided to deductors and deductees on TIN site by NSDL. The following table presents various services at both the sites
Registration at TRACES
- Users who have already registered at NSDL TIN site, need not register again on TRACES. Their registration details are migrated and they can login at TRACES with their NSDL-TIN login details
- Fresh registrations on NSDL site have been stopped
- New registrations can be done at TRACES site and online help is available under the FAQ link
It appears; gradually TRACES will become the only site for deductors and deductees. As more features appear and existing features understood, we will keep sharing the information with you.
1 comment:
What is the meaning of reconciliation in Accounting area?
I want to know details of reconciliation , Service Tax , TDS , VAT and other important information in Accounting area.
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