TDSMAN Blog

Smart & Easy TDS Software for Preparing TDS Returns

TDSMAN Blog - Smart & Easy TDS Software for Preparing TDS Returns

Generation of excel sheet from the Justification report downloaded from TRACES

To generate the excel sheet from the Justification report downloaded from TRACES, follow the steps given below:

1. To generate the justification report excel sheet, download the “TRACES-Justification-Report-Generation-Utility-V1.0” from the following link:

Download TRACES-Justification-Report-Generation-Utility-V1.0

2. Now, provide the path of unzipped report downloaded from TRACES website and the path of the output folder where you want this report to be generated.

3. Click on “Generate Report” button to generate the report.

Please note, to generate the report you have to enable the macros in the excel sheet.

 

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Evaluate your TDS defaults using Justification report downloaded from TRACES

After the submission of your TDS return you have the option to evaluate your return by downloading the Justification report from the TRACES website.

This report lists out the following errors that was present in the returns that was submitted:

PAN Errors – List of all PANs that which is not present in the Income Tax Department data.

Late Payments – List of all those records whose TDS payments were deposited after the due date. An interest of 1.5% per month is charged on the TDS amount for the late payment.

Short Deduction – List of all the records in which the TDS deduction rate is less than the rate as per Income Tax Act.

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