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Category Archives: Traces

Important notifications displayed on TRACES website

The following important notifications have been displayed on TRACES website:

  • The original statement will be put on hold if Challan Mismatch/Challan Overbooked/PAN Errors has been identified in the preliminary check, please make online correction so that your statement is not processed for defaults.
  • A new version (2.1) of Excel Generation utility for Justification report has been rolled out. Please download and use latest utility version for Justification report requests.
  • Notices for Assessing Officer Functionality has been enabled on TRACES. Deductor can now check the status of Show Cause Notice/Penalty Order/201 Order issued by the Assessing Officer.
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CPC (TDS) follow up for Registration on TRACES

CPC (TDS) has issued an advisory communications to the deductors in which it has stated that the deductors has filed tds statements for different quarters but they have not yet registered on the web portal TRACES.  Therefore, the deductors must register on TRACES to download TDS Certificates (Form 16/ 16A) and avail several other facilities offered by TRACES.

The issued communication has been given below:

Dear Deductor,

As per the records of Centralized Processing Cell (TDS), the TDS Statements have been filed by you for different quarters, however, you have not yet registered on the web portal TRACES.

You will not be able to download TDS Certificates (Form 16/ 16A) and avail several other facilities offered by TRACES unless you are registered on the web portal.

Please refer to the following provisions of the Income Tax Act, 1961:

Downloading of TDS Certificates from TRACES made mandatory:

In this regard, your attention is invited to the CBDT circulars 04/2013 dated 17.04.2013, No. 03/2011 dated 13.05.2011 and No. 01/2012 dated 09.04.2012 on the Issuance of certificate for Tax Deducted at Source in Form 16/16A as per IT Rules 1962. It is now mandatory for all deductors to issue TDS certificates after generating and downloading the same from “TDS Reconciliation Analysis and Correction Enabling System” or http://www.tdscpc.gov.in (hereinafter called TRACES Portal).

TDS Certificates downloaded only from TRACES hold valid:

In view of above circulars, it may kindly be noted that the TDS Certificates downloaded only from TRACES Portal will be valid. Certificates issued in any other form or manner will not comply to the requirements referred in the Income-tax Act 1961 read with relevant Rules and Circulars issued in this behalf from time to time.

Due Date for downloading and Penalty for non-compliance:

Please be advised that under the provisions of section 203 of the Income Tax Act, 1961 read with rule 31A, Certificate of tax deducted at source is to be furnished within fifteen (15) days from the due date for furnishing the statement of tax deducted at source. Failure to comply with the provisions of the Act will attract penalty under the provisions of section 272A of the Act, a sum of one hundred rupees for every day during which the failure continues.

Assistance for Registration on TRACES:

You can access our web portal TRACES and refer to our e-Tutorial for assistance on Registration and Login. For any further assistance, you can also write to ContactUs@tdscpc.gov.in or call our toll-free number 1800 103 0344.

CPC (TDS) is committed to provide best possible services to you.

CPC (TDS) TEAM

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CBDT circular on calculation of TDS on salary for FY 2014-15

CBDT has released Circular no. 17/2014 which contains the rates of deduction of income-tax from the payment of income chargeable under the head “Salaries” during the financial year 2014-15 and explains certain related provisions of the Act and Income-tax Rules, 1962.

 The released circular has been given below:

CIRCULAR NO : 17/2014 

F.No. 275/192/2014-IT(B)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
****** 

North Block, New Delhi
Dated 10th December, 2014

SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2014-15 UNDER SECTION 192 OF THE INCOMETAX ACT, 1961.

*****

Reference is invited to Circular No.08/2013 dated 25.10.2013 whereby the rates of deduction of income-tax from the payment of income under the head “Salaries” under Section 192 of the Income-tax Act, 1961 (hereinafter ‘the Act’), during the financial year 2013-14, were intimated. The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head “Salaries” during the financial year 2014-15 and explains certain related provisions of the Act and Income-tax Rules, 1962 (hereinafter the Rules). The relevant Acts, Rules, Forms and Notifications are available at the website of the Income Tax Department- www.incometaxindia.gov.in. 

Click here to view/download the complete circular.

 

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CPC (TDS) : Online resolution of ‘Short Payment default’ on account of unmatched challans

TDSCPC has issued new instruction under which it has been directed to the the Tax deductors that if there are Short payment in a statement filed by deductor then deductor have to settle the default first otherwise he will not be able to download the Form 16/16A of the relevant quarter/period.

The instruction has been reproduced here under:

Dear Deductor,

We are glad to inform that the Online Correction functionality provided by CPC (TDS) has been availed by a large number of deductors for the purpose of carrying out corrections and over 2 Lakh Online Corrections have been submitted. The corrections include resolution of Short Payment Defaults that relate with unmatched challans. You are informed that TRACES enables Online resolution of “Short Payment default” on account of unmatched challans. The deductor has an online view of all available unconsumed challans, which can be tagged with unmatched challans, to close the above defaults.

Further, as you are aware that at the time of filing TDS statements, it is mandatory to quote the challan particulars through which TDS payments have been made. However, it is observed that:

  • At times, data entry mistakes are committed, while reporting tax payments in the respective TDS statements.
  • Though CPC (TDS) makes best efforts to match such challans, however, they may remain unmatched leading to “Short Payment” demand.
  • The above results into issuance of notices by the CPC (TDS) and field TDS officers.

To make the resolution process non-intrusive, CPC (TDS) proposes a new change at the time of submitting request for download of TDS Certificates (Forms 16/ 16A) for relevant period. 

Actions to be taken: Following are key information to be noted in this regard:

  • You are requested to take appropriate action at the earliest for closure of the Short Payment defaults, to avoid any inconvenience in downloading of TDS Certificates.
  • The Online Correction facility of TRACES needs to be used for closure of the Short Payment default, available even without digital signature.
  • CPC(TDS) recommends to close the above default by tagging unconsumed challans, if available in CPC(TDS) system, through Online Correction.
  • Details of defaults will be provided during Online Correction process after logging into the web portal “TRACES”.
  • In case there is no available challan for consumption, the deductor is required to first deposit the due tax in the bank and then the same challan will be available for tagging in CPC(TDS) system after around 3-4 days of deposit.
  • Once the challan is suitably tagged and Online Correction is submitted to CPC(TDS), it shall process the statement, thereby rectifying the Short Payment default
  • The user will not be able to download TDS Certificates for the relevant TDS statement until closure of the above default.

You can refer to our e-tutorial and FAQs on “TRACES” website for necessary help.For any assistance, you can write to contactUs@tdscpc.gov.in or call our toll-free number 1800 103 0344.

CPC (TDS) is committed to provide best possible services to you.

CPC (TDS) TEAM

 

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