TDS Reconciliation Analysis and Correction Enabling System (TRACES) is an online platform introduced by the Income Tax Department of India in 2010 to make managing TDS easier. It centralizes all TDS activities helping taxpayers, deductors, and the tax department handle TDS data more efficiently.
A big part of how TRACES works involves using DSC. Buy Digital Signature for Traces TDS to ensure your TDS submissions and corrections are secure and authenticated. Thus, this TRACES enhances the accuracy and integrity of TDS data, making the entire process smoother and more reliable.
What is TRACES 26AS?
The Income Tax Department issues Form 26AS. It contains details of the taxes deducted on behalf of a taxpayer, including TDS and TCS. It also includes other information such as advance tax and self-assessment tax payments.
Features of form 26AS: Record of Tax Deducted at Source (TDS)
1. Details of TDS: This shows the TDS deducted from your income by various deductors, such as employers or financial institutions.
2. TDS Receipts: Includes information on TDS receipts from different sources like salary, interest, and other payments.
Record of Tax Collected at Source (TCS)
Details of TCS: Displays the tax collected at source on certain transactions, such as the sale of goods by a seller.
Advance Tax and Self-Assessment Tax Payments
1. Advance Tax: Shows any advance tax payments made during the financial year.
2. Self-Assessment Tax: Includes details of self-assessment tax paid while filing your tax return.
Tax Refunds
Refund Details: Provides information on any tax refunds issued by the Income Tax Department.
Reconciliation of Tax Credits
Reconciliation: This helps reconcile the tax credits claimed in your income tax return with the actual TDS and TCS recorded.
Verification of Tax Data
Accuracy Check: Assists in verifying that the tax deducted or collected has been correctly reported by the deductors and is reflected accurately in your records.
Pre-Filing Review
Pre-Return Filing: This allows you to review tax credits before filing your income tax return, ensuring that all details are accurate and up-to-date.
Discrepancy Reporting
Correction Requests: Provides a mechanism to report discrepancies in TDS/TCS records and request corrections from the deductor through the TRACES portal.
TRACES Login
If you want to log on to the TRACES portal, follow these simple steps:
1. Go to the TRACES portal.
2. Click on the ‘Login' button on the home page.
3. Select your designation from deductor, Taxpayer, and PAO.
4. Enter your User ID and password.
5. Enter the TAN, PAN, and AIN number if:
- TAN number if you are logging in as a deductor.
- PAN number if you are logging in as a Taxpayer.
- AIN number if you are logging in as a PAO.
How do I Get TDS Traces?
To get your TDS records, visit the TRACES portal. Log in with your User ID, Password, TAN or PAN, and enter the captcha. Once you are logged in, go to the ‘
Downloads' section. Choose the TDS report or certificate you need, like Form 16, Form 16A, or Form 26AS. Enter the required details, such as the Financial Year and Quarter, and click ‘
Download'. Open the downloaded file to review your TDS information.
Register New DSC in Traces
To set up your new Digital Signature for Traces TDS, follow these steps to link it to your profile. This will let you use your DSC for various TRACES services, such as submitting returns and accessing documents.
1. Visit the ‘
TRACES' website and log in.
2. Go to ‘
Profile' and click the ‘Signature' tab.
3. Select ‘
Register DSC'.
4. Choose the DSC associated with the authorized person's PAN.
5. Click on ‘
Register'.
6. Enter the password you set during DSC installation.
7. Review the digital signature for Traces TDS details, appearing on the screen.
8. Click ‘
Ok' to finish the registration.
9. A confirmation message will show up, indicating successful DSC registration.
KYC Validation on Traces
Completing KYC Validation is essential to access services like online corrections, profile updates, or downloads on TRACES. You can do this
without a DSC, where no Digital Signature for Traces TDS is required, or
with a DSC, which allows you to avoid multiple KYC checks in a single session.
For KYC with DSC, you need a valid Class 3 Digital Signature for Traces TDS from a certifying authority like
Capricorn CA. The DSC certificate must be registered on TRACES and installed in your browser or connected via a USB dongle.
How to do KYC Validation using DSC
To complete DSC KYC validation on TRACES, follow these steps:
1. Go to the TRACES portal.
2. Type in your User ID, Password, TAN or PAN, and captcha.
3. Go to the ‘
Profile' section.
4. Click on ‘
DSC Support KYC Validation'.
5. Choose the Financial Year, Quarter, and Form Type.
6. Click on ‘
Validate DSC'.
7. Enter the DSC password and click ‘
OK'.
8. Select your Digital Signature for Traces TDS and click ‘
Sign'.
9. Type in the Token Number from the original TDS return.
10. Provide the CIN details and PAN-amount combination.
After completing these steps, you will receive a confirmation message indicating that the KYC validation using DSC was successful. However, if you don't have a DSC online, you can purchase your Digital Signature for Traces TDS from Capricorn CA.
Traces DSC Registration Error
If you encounter issues while registering your Digital Signature for Traces TDS, it could be due to connection problems, incorrect passwords, or outdated software. Addressing these common issues can help resolve traces of DSC errors and ensure smooth registration.
Follow these simple troubleshooting steps to fix the problem and complete your DSC registration successfully.
1. Connect or install your Digital Signature for Traces TDS properly.
2. Enter the correct DSC Password/PIN.
3. Check the validity of your DSC if expired and renew it immediately.
Conclusion
Digital Signature for Traces TDS ensures secure and authenticated transactions. It simplifies the TDS process for both taxpayers and the tax department. Buy your DSC signature today to enhance security and file TDS easily.
