TRACES

TDS Certificates in Form 16A & Form 16 authenticated by DSC

Income Tax - Section 203 of the Income-tax Act 1961 read with the Rule 31 of the Income-tax Rules 1962 requires the deductor to issue certificate of tax deduction at source (TDS) to the deductee. The relevant form for such TDS certificate is Form No.16 in case of deduction under section 192 and Form No.16A for deduction under any other provisions of ...

Read More

How to resolve Inconsistencies in TDS/TCS Statements through Correction Statements

Income Tax - When you file your TDS/TCS return, first the details regarding deposit of TDS/TCS made by you is compared with the data given by banks. The data is uploaded by banks on the basis of the TDS/TCS challans received by them. For this purpose, the Challan Identification Number (CIN), TAN and TDS amount as given in your TDS/TCS return is compar...

Read More

Can excess TDS Paid for last FY can be adjusted against current FY

Income Tax - The answer is 'NO' there is no such provisions in the Income tax Act /rules to adjust the same by assesee himself. If the excess is related to perriod up to 31.03.2010 then Assesssee can claim refund of the same as per the provisions of CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011 . Detailed analysis of the same can be ...

Read More

Procedure for Download of Form 16A TDS Certificate

Income Tax - Form 16A PDF Converter Utility. 1. The Form 16A text file is to be passed through the PDF Converter Utility to convert to generate PAN wise Form 16A in PDF format. 2. The PDF Converter Utility is available to registered TANs at TIN. 3. It is available under the option ‘Form 16A’ post login to TAN account. ...

Read More

TDS Certificates – Detailed Discussion

Income Tax - As we all are aware that the TDS return process will consider as incomplete until the Valid TDS certificate has been issued by the deductor. Now if we focus on the word Valid TDS Certificate, it means Form 16/ Form 16A issued by authenticated authority. As on the current date the TRACES have the authorisation […]...

Read More

Develop system to issue Lower deduction certificate u/s 197 through TRACES Site: ICAI

Income Tax - TDS CPC has been one of the successful projects of the Government for online tracking of the Tax deducted, deposited, corrections and reconciliations....

Read More

Validate Sec. 197 certificate at TRACES before filing TDS/TCS return

Income Tax - Advisory for Deductors 1. Deductors deduct tax at lower rate on payment/credit to deductee on production of certificate duly issued by assessing officers under section 197. Deductors quote such certificate number in quarterly TDS statement. Instances of huge default of ‘Short Deduction’ have been observed due to wrong quoting of 197 c...

Read More

CPC-TDS- Processing of TDS/ TCS statements may take 7 to 10 working days

Income Tax - CPC-TDS has informed on its website that Considering peak statement filing time, processing of TDS/ TCS statements might take 7 to 10 working days from date of filing. 90% of the statements filed till 15th Oct 2014 have been processed for 26AS....

Read More

Traces enables Online Correction functionality with enhanced features without Digital Signature

Income Tax - Attention Deductors: The Online Correction functionality with enhanced features has been enabled “without Digital Signature” for Financial Year 2012-13 onwards. Digital Signature will be required only for PAN Corrections Tag/Replace Challan has been enabled on TRACES Details of manual and processed demands based on financial y...

Read More

TDS – Online Corrections facility currently live only with Digital Signatures

Income Tax - Attention Deductors: The Online Corrections facility is currently live only with Digital Signatures and the facility without the same will be available in a week. Attention Government Deductors: Please quote the Accounts Office Identification Number (AIN) in your TDS Statements Source – http://contents.tdscpc.gov.in/...

Read More

TDS credit must be given to deductee even if deductor fails to pay to government

Executors of the Estate of S.Shanmuga Mudaliar Vs The Assistant Commissioner of Income Tax (Madras High Court) - It is not disputed that tax was deducted at source by the tenant Union Motors Services Limited and they have issued some Certificates which has been given credit to by the Department. The present dispute relates to the failure of non issuance of TDS certificates by the tenant....

Read More

Procedure for furnishing and verification of Form 26A

DGIT Notification No. 11/2016-Income Tax - (02/12/2016) - CBDT notidfies Procedure for the purposes of furnishing and verification of Form 26A for removing of default of Short Deduction and/or Non Deduction of Tax at Source- Reg....

Read More

Recent Posts in "TRACES"

TDS Certificates in Form 16A & Form 16 authenticated by DSC

Section 203 of the Income-tax Act 1961 read with the Rule 31 of the Income-tax Rules 1962 requires the deductor to issue certificate of tax deduction at source (TDS) to the deductee. The relevant form for such TDS certificate is Form No.16 in case of deduction under section 192 and Form No.16A for deduction under any other provisions of ...

Read More
Posted Under: Income Tax | ,

How to resolve Inconsistencies in TDS/TCS Statements through Correction Statements

When you file your TDS/TCS return, first the details regarding deposit of TDS/TCS made by you is compared with the data given by banks. The data is uploaded by banks on the basis of the TDS/TCS challans received by them. For this purpose, the Challan Identification Number (CIN), TAN and TDS amount as given in your TDS/TCS return is compar...

Read More
Posted Under: Income Tax | ,

Can excess TDS Paid for last FY can be adjusted against current FY

The answer is 'NO' there is no such provisions in the Income tax Act /rules to adjust the same by assesee himself. If the excess is related to perriod up to 31.03.2010 then Assesssee can claim refund of the same as per the provisions of CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011 . Detailed analysis of the same can be ...

Read More
Posted Under: Income Tax | ,

Procedure for Download of Form 16A TDS Certificate

Form 16A PDF Converter Utility. 1. The Form 16A text file is to be passed through the PDF Converter Utility to convert to generate PAN wise Form 16A in PDF format. 2. The PDF Converter Utility is available to registered TANs at TIN. 3. It is available under the option ‘Form 16A’ post login to TAN account. ...

Read More
Posted Under: Income Tax | ,

TDS Certificates – Detailed Discussion

As we all are aware that the TDS return process will consider as incomplete until the Valid TDS certificate has been issued by the deductor. Now if we focus on the word Valid TDS Certificate, it means Form 16/ Form 16A issued by authenticated authority. As on the current date the TRACES have the authorisation […]...

Read More
Posted Under: Income Tax | ,

Registration process for online TDS/TCS return filing & upload

Step by step process of registration for online TDS/TCS return filing and upload 1. First of all, allow the pop-ups in your browser (following is the screenshot of chrome browser). Afterwards, don’t forget to block it again. 2. Now open http://tdscpc.gov.in/ and make login as usual. You will find a link with words “Register at [&helli...

Read More
Posted Under: Income Tax | ,

TDS Deposit and Filing TDS Statement – Do’s & Don’Ts

DOs FOR TDS DEPOSIT AND TDS STATEMENT FILING: 1. Deposit TDS and file statement before due dates to avoid last moment hustle and late payment of Interest and Late Filing Fee Respectively. Note, the due date for filing Form 24Q for Q4 of FY 2019-20 is 31st July, 2020 2. Always double check TAN and […]...

Read More
Posted Under: Income Tax |

3 Tips for those Making TDS payment through multiple challans

For Deductors’ convenience, CPC (TDS) has established processing logic in the system that can accept a Single Challan per month for reporting of Tax Deposited in following circumstances : Situation 1: Where Payment of Tax Deducted is required under ‘different sections‘ of the Income Tax Act, 1961: The CPC (TDS) system gi...

Read More
Posted Under: Income Tax | ,

CPC (TDS) Information Security Advisory to Tax Deductors

Your User ID and Password are the most sensitive information, misuse of which can lead to tampering of confidential TDS related information, your own sensitive data and Deductee related confidential information....

Read More
Posted Under: Income Tax |

How to solve short TDS Payment defaults

Many times after filing of TDS return, Assessee received intimation from TDS CPC for short payment of TDS or in other case, when we try to put conso file request on TRACES, system is showing us the pop up message for short payment of TDS. In such case, many of us got confused as how […]...

Read More
Posted Under: Income Tax |

Browse All Categories

CA, CS, CMA (4,989)
Company Law (6,653)
Custom Duty (8,019)
DGFT (4,364)
Excise Duty (4,399)
Fema / RBI (4,405)
Finance (4,649)
Income Tax (34,749)
SEBI (3,718)
Service Tax (3,604)

Search Posts by Date

October 2020
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031