Traces (TDS Reconciliation Analysis
and Correction Enabling System) is an online facility provided by the Income
Tax Department at www.tdscpc.gov.in.
The main objective of this facility
is:-
1. Payers and Deductors both are
able to view taxes paid online.
2. Tax Deductor are able to view all
deposit challan to government.
3. Tax Deductor are able to
Revise TDS return if filed TDS return
with any type of wrong data.
4. This site provides rates and
tables of section wise TDS Rates,
TCS Rates and Income tax slab Rates.
5. Tax Deductor are able to view all
filed return from the period of F.Y. 2007-08 to onwards.
6. If Tax Deductor put wrong
information in tax challan than he is able to do following correction: –
a) Financial
Year
b) Major
Head
c) Minor
head
d) Section
Code
Note-
a) If
tax Deductor deposit challan in wrong TAN than tax deductor have not power to
do correction. This power is vested to Jurisdictional Assessing officer
b)
Correction for Section Code 195 to
other Section Codes or vice versa will process through Jurisdictional Assessing
Offices approval.
7. Tax Deductor are able to request
for refund of unconsumed challans.
8. Deductor are able to find all
Notices/Communications issued from Assessing Officer.
9. Tax Deductor will able to
download following certificates from traces: –
a) Form
16
b) Form
16A
c) Transaction
based report
d) Form
27D
e) Download
Certificate u/s 195(2)
10. Tax deductor are able to view
limit and rates of lower deduction certificate u/s 197/195(3)/195(2).
11. Traces provide both online and
offline correction.
12. Declaration for Non-Filing
return- If Tax Deductor not deduct any TDS in any Quarter (it is optional)
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