Sunday, 6 January 2013

TRACES: New TIN-NSDL website replace for TDS return Filing, correction, Form 16/16A, FVU files and 26AS Statement.

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 :
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:

John Matthew said...

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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