{"id":27391,"date":"2021-03-14T10:30:29","date_gmt":"2021-03-14T05:00:29","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=27391"},"modified":"2021-03-13T15:13:30","modified_gmt":"2021-03-13T09:43:30","slug":"online-process-of-registration-for-traces","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/online-process-of-registration-for-traces\/","title":{"rendered":"What is the Online Process of Registration for TRACES?"},"content":{"rendered":"\n<p class=\"has-drop-cap\">TRACES registration is compulsory for the taxpayer to file a correction statement. It enables the taxpayer to file web-based corrections. Once the taxpayer gets registered, he\/she can access various facilities rendered by the TRACES (TDS Reconciliation Analysis and Correction Enabling System). Taxpayer can verify Form 16, view <a href=\"https:\/\/corpbiz.io\/tds-return-filing\"><strong>TDS<\/strong><\/a>\/TCS, and access refund status, etc.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/online-process-of-registration-for-traces\/#General_Overview_on_TRACES\" >General Overview on TRACES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/online-process-of-registration-for-traces\/#What_are_the_Services_provided_by_the_TRACES_Website\" >What are the Services provided by the TRACES\nWebsite?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/online-process-of-registration-for-traces\/#What_are_the_Key_Links_Available_on_the_TRACES_Web-Based_Portal\" >What are the Key Links Available on the TRACES Web-Based\nPortal?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/online-process-of-registration-for-traces\/#Online_Procedure_to_Register_under_TRACES\" >Online Procedure to Register under TRACES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/online-process-of-registration-for-traces\/#What_are_the_TRACES_Services_Rendered_to_deductor\" >What are the TRACES Services Rendered to\ndeductor?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/online-process-of-registration-for-traces\/#Essential_services_that_the_deductor_can_access_on_TRACES_are\" >Essential services that the deductor can access\non TRACES are:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/corpbiz.io\/learning\/online-process-of-registration-for-traces\/#What_is_TRACES_Justification_Report\" >What is TRACES Justification Report?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/corpbiz.io\/learning\/online-process-of-registration-for-traces\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"General_Overview_on_TRACES\"><\/span>General Overview on TRACES<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The TRACE is abbreviated form of the term TDS Reconciliation Analysis and Correction Enabling System. It is a web-based portal of the <em><strong>IT department<\/strong><\/em><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Income_Tax_Department\"><em><strong>[1]<\/strong><\/em><\/a><\/sup> which helps connect all stakeholders engaged with the administration &amp; implementation of TDS and TCS. The TDS TRACES online portal is used to track &amp; download essential tax documents like Form 16, Form 16A, and Form 26AS.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_Services_provided_by_the_TRACES_Website\"><\/span>What are the Services provided by the TRACES\nWebsite?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><em><strong>The TDS TRACES online portal enables taxpayer and TDS deductor to perform a range of activities including but not confined to the following:-<\/strong><\/em><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"900\" height=\"900\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/03\/What-are-the-Services-provided-by-the-TRACES-Website.png\" alt=\"Services provided by the TRACES Website\" class=\"wp-image-27419\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/03\/What-are-the-Services-provided-by-the-TRACES-Website.png 900w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/03\/What-are-the-Services-provided-by-the-TRACES-Website-150x150.png 150w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/03\/What-are-the-Services-provided-by-the-TRACES-Website-300x300.png 300w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/03\/What-are-the-Services-provided-by-the-TRACES-Website-768x768.png 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/figure><\/div>\n\n\n\n<p>The online services accessible via the TDS TRACES online portal render a less intricate system to perform a wide range of tax-based activities. This has superseded the preceding paper-based systems, which were not efficient and time-saving. Through this web-based rectification system, challan and PAN information corrections can be made with negligible effort.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/budget-2020-revised-income-tax-slabs-fy-2020-21-ay-2021-22\/\">An Overview on Budget 2020 Revised Income Tax Slabs FY 2020-21 (AY 2021-22)<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_Key_Links_Available_on_the_TRACES_Web-Based_Portal\"><\/span>What are the Key Links Available on the TRACES Web-Based\nPortal?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><em><strong>The following are the essential links available to those who log into the TDS TRACES website:<\/strong><\/em><\/p>\n\n\n\n<ul><li>Dashboard\ndemonstrating the complete briefing of deductor&#8217;s account.<\/li><li>Online\nregistration Tax Deduction &amp; Collection Account Number<\/li><li>Web-based\nfiling of TDS statements<\/li><li>Web-based\ncorrection of TDS statements<\/li><li>Default\nResolution<\/li><li>Tracking\nForm 26AS<\/li><li>Complaint\nregistration &amp; resolution<\/li><\/ul>\n\n\n\n<p><strong><em>The various services rendered\nby TRACES can be divided into three vital categories, which are as follows:-<\/em><\/strong><\/p>\n\n\n\n<ul><li>Deductor\nservices<\/li><li>Tax\nPayer services<\/li><li>PAO\n(Pay and Accounts Office) service<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Online_Procedure_to_Register_under_TRACES\"><\/span>Online Procedure to Register under TRACES<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><em><strong>Following is the online procedure to register under TRACES:-<\/strong><\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 1- Register as New User<\/h3>\n\n\n\n<p>Open the TRACES portal\nand select &#8220;Register as New User&#8221; followed by &#8220;Deductor&#8221;\nand Proceed.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 2- Details Submission<\/h3>\n\n\n\n<p>Provide detail regarding\nDeductor&#8217;s TAN, enter &#8220;Verification code,&#8221; and select\n&#8220;Proceed.&#8221;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 3: Token Number<\/h3>\n\n\n\n<p>Enter the Token number\nof the original statement in addition to the CIN\/BIN &amp; PAN details related\nto the financial year, Quarter &amp; form type prompted on the computer screen.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Challan Details (CIN)<\/h4>\n\n\n\n<p>Challan amount, date,\nBSR code &amp; CD record number Govt. deductor needs to provide the Deposit\ndate &amp; transfer voucher amount listed in the statement.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">PAN Details<\/h4>\n\n\n\n<p>Maximum of three valid PAN\n&amp; corresponding amount should be provided. If the number is less than the\naforesaid requirement, you must enter all.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 4: Validating the KYC<\/h3>\n\n\n\n<p>The portal shall render\nthe authentication code after validating the KYC information, which stays valid\nfor the same calendar day against the same form type, financial years &amp;\nquarter. You can proceed with TAN, code, and deductor&#8217;s name is prefilled, you\nwill have to update person detail and address along with the PAN.<\/p>\n\n\n\n<p>In the case of\nproprietor &amp; individual, Deductor&#8217;s PAN and PAN of a legit person may be\nthe same. In the rest of the cases, both may be different. Now you can provide\nID, password &amp; tap on &#8220;Create an Account.&#8221;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 5: Confirmation Page<\/h3>\n\n\n\n<p>You will be directed to\nthe confirmation page. Here you will need to check the entire details once. Tap\non the &#8220;Edit&#8221; tab to alter the detail, and click on the\n&#8220;Confirm&#8221; tab to register.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 6: Activate the Account<\/h3>\n\n\n\n<p>Now you will come across\nactivation links and codes routed to your registered email id and contact number.\nAs soon as you activate the account, the portal will confirm that the\nregistration process is completed successfully.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_TRACES_Services_Rendered_to_deductor\"><\/span>What are the TRACES Services Rendered to\ndeductor?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A deductor is an\nindividual who deducts taxes at source (place of business) on specifies payment\nmade. The tax deducted by such an individual using the TDS mechanism must be\ndeposited with the IT department within the given timeline. The TDS deductor is\nalso liable to provide details regarding tax deducted in a statement.<\/p>\n\n\n\n<p><strong><em>Following individuals are\ncompulsorily needed to file an online TDS statement:-<\/em><\/strong><\/p>\n\n\n\n<ul><li>Government\nOffices<\/li><li>Companies<\/li><li>Individuals\nneeded to get their accounts scrutinized under section 44AB of the IT Act,\n1961.<\/li><li>Deductors\nproviding report concerning more than 20 deductee for any quarter in the\nfinancial year.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Essential_services_that_the_deductor_can_access_on_TRACES_are\"><\/span>Essential services that the deductor can access\non TRACES are:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Registration\nof Admin User for a TAN.<\/li><li>Creation\nof sub-users by Admin User.<\/li><li>Viewing\nof challan status.<\/li><li>Download\nJustification Report<\/li><li>Download\nForm 16 \/ 16A<\/li><li>View\nTDS \u2013 TCS credit for a PAN.<\/li><li>View\nPAN Master for the TAN.<\/li><li>View\nStatement Status.<\/li><li>Provide\nfeedback.<\/li><li>Manage\nuser profile and change password.<\/li><li>Validate\n197 Certificates<\/li><li>Online\nCorrection.<\/li><li>Declaration\nfor Non \u2013 filing of statement.<\/li><li>TDS\nRefund.<\/li><li>Offline\nCorrection.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_TRACES_Justification_Report\"><\/span>What is TRACES Justification Report?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The TDS TRACES\nJustification Report entails information regarding errors\/default pinpointed by\nthe IT department while processing the statement during a particular quarter of\nthe financial year.<\/p>\n\n\n\n<p>This document encloses\nbrief detail regarding the error\/defaults that require to be rectified by the\ndeductor. This rectification can be finished using the correction statement\n&amp; making payment of fees and other applicable dues. On the contrary,\ndeductors can leverage the report&#8217;s information to clarify any error pinpointed\nby the concerned authorities.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The TRACES Portal is a\nmechanism that allows taxpayers to ascertain the taxes pending on their account\nas self-assessment taxes paid or TDS. The TRACES portal has been implemented by\nthe TDS Centralized Processing Cell of the IT department. The ultimate\nobjective of TRACES is to provide facility regarding the reconciliation and\ncorrection of TDS. <\/p>\n\n\n\n<p>Furthermore, it facilitates individuals to keep track of challan &amp; statement status, download key forms, submit refund requests, and view annual tax credit statements. Also, it allows a taxpayer to make web-based corrections of the already file returns.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/tds-penalty-and-late-filing-fees-for-tax-deduction-at-source\/\">TDS Penalty and Late Filing Fees for Tax Deduction at Source<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TRACES registration is compulsory for the taxpayer to file a correction statement. It enables the taxpayer to file web-based corrections. Once the taxpayer gets registered, he\/she can access various facilities rendered by the TRACES (TDS Reconciliation Analysis and Correction Enabling System). Taxpayer can verify Form 16, view TDS\/TCS, and access refund status, etc. General Overview [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":27418,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[10,237],"tags":[1599],"acf":{"service_id":"403"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":7105,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/27391"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=27391"}],"version-history":[{"count":9,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/27391\/revisions"}],"predecessor-version":[{"id":27420,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/27391\/revisions\/27420"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/27418"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=27391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=27391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=27391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}