Tuesday, May 12, 2015

TRACES UPDATES: Online Correction, Refund Functionality, Enhanced Features, Replace Challan Etc.,




  • The Online Correction functionality is now enabled for TDS Statements prior to FY 2012-13 also (Financial Year 2007-08 onwards), provided at leastone correction for the relevant statement has been processed by CPC (TDS).
  • Enhanced features has been enabled "without Digital Signature" for Financial Year 2012-13 onwards, however, Digital Signature will be required for PAN Correction.
  • Tag/Replace Challan has been enabled on TRACES.
  • Deductor can close all those demands which are not generated by TDSCPC through Tag/Replace Challan.
  • The Refund functionality is now enabled on TRACES under 'Statement / Payment -> Request for Refund'
  • Deductor can submit Refund request only with a valid Digital Signature registered on TRACES for Authorised Person.
  • Tax payers can make payment of demand raised by CPC - TDS against TDS on Sale of Property has been enabled on TIN-NSDL . You can make payment by entering PAN of Seller, PAN of Buyer, Acknowledgement Number, Assessment Year.
  • Details of manual and processed demands based on financial year are now available through a link on TRACES deductor dashboard.
  • The original statement will be put on hold for 7 days if Challan Mismatch / Challan Overbooked / PAN Errors has been identified in the preliminary check. Please make online correction to correct Challan Mismatch / Challan Overbooked / Pan Errors so that your statement is not processed for defaults.
  • CPC (TDS) prompts you to first close the Short payment defaults before submission of request for download of TDS Certificates (Forms 16/ 16A). Short Payment default that can be closed by Online Correction displayed when submitting request of Form 16 / 16A

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