TRACES (TDS Reconciliation Analysis and Correction Enabling System) // General Question and Answer Of Taxpayers // SUNIL RAJAI // MONARCH

TRACES (TDS Reconciliation Analysis and Correction Enabling System)
General Question and Answer Of Taxpayers

Question (1) : Who can register on TRACES?
Answer : As of now, Deductors and Tax Payers can register on TRACES.

Question (2) : I am a Tax Payer. Why should I register on TRACES?
Answer : Tax Payers can view their annual tax statement (Form 26AS) by register on TRACES.

Question (3) : What are the activities that a Tax Payer can perform through TRACES?
Answer : Tax Payer can perform the following activities through TRACES:
• Registration and Login
• View Form 26AS
• View and edit profile
• Provide Feedback

Question (4) : What are the functionalities that a Tax Payer can access after logging into their account on TRACES?
Answer : The following functionalities are available to a Tax Payer after logging in to TRACES:
• Landing page
• View Form 26AS
• Manage Profile

Question (5) : What are the details that I need to enter in the registration form?
Answer : For Deductors
• Step–1
1) TAN of Deductor
• Step–2
1) Token Number of the regular statement corresponding to the Financial Year, Quarter and Form Type displayed on screen
2) Challan details of one particular CIN which has been mapped to at least three deductee rows. If there is no such challan, please enter details of challan having maximum number of deductee rows
• Step–3
1) PAN of Deductor
2) PAN of Authorised Person (person responsible for deduction of tax at source)
3) Date of Birth of Responsible Person as in PAN database
4) Designation of Responsible Person
5) Communication Address
6) Mobile Number
7) Email Id
For Tax Payers
• Step–1
1) PAN of Tax Payer
2) Date of Birth as on PAN Card
3) Name as in PAN database
4) Option 1 – Details from Form 26AS or salary slip (in case of salaried persons). Provide TAN of deductor who has deducted TDS / TCS, month & year of deduction and amount of tax deducted
5) Option 2 – Details of any tax paid by you. Provide Assessment Year for which payment was made by you, Challan Serial Number of the challan using which payment was made and amount as per the challan
• Step–2
1) Communication Address
2) Mobile Number
3) Email Id

Question (6) : How do I register as a Tax payer on TRACES?
Answer :
Steps to be followed for registering on TRACES as a Tax Payer:
• Click on 'Register as New User' in TRACES home page
• Select 'Type of User' as 'Tax Payer' from drop-down and proceed
• Enter details from Step-1 to Step-3 and proceed
• Confirm details in confirmation screen
• On successful registration, activation link will be sent to registered email id and separate activation codes will be sent to registered email id and mobile number
• Click on activation link and enter User Id and activation codes
• After activation, user can login to TRACES

Question (7) : I have registered as a Tax Payer on TIN. Do I need to register again on TRACES?
Answer : Yes. Tax Payers registered on TIN must register as new user on TRACES. They cannot login to TRACES using their User Id and Password as in TIN.

SOURCE : TDSCPC
Best Regards,
- SUNIL RAJAI

TRACES (TDS Reconciliation Analysis and Correction Enabling System) // Authentication Code Question and Answer // SUNIL RAJAI // MONARCH

TRACES (TDS Reconciliation Analysis and Correction Enabling System)
Authentication Code Question and Answer

Question (1) : What is Authentication Code?
Answer : Authentication code is generated when you clear validation details for a statement for certain functionalities such as Download Form 16 / 16A, Download NSDL Conso File, Download Justification Report, etc. Authentication code generated for a particular statement will be valid for the calendar day (i.e., an authentication code generated on 10-Dec-2012 can be used only on 10-Dec-2012 to clear validation details for the same statement. It will not be valid the next day).

Question (2) : Why does TRACES have different types of Authentication Codes?
Answer : There are two types of validations after which Authentication Code will be generated.
• Statement Specific Validation – On this screen, details about a particular statement will be asked.
For e.g., If you want to download NSDL Conso File for Financial Year 2010-11, Quarter 2 and Form Type 24Q, you have to provide challan details and PAN-Amount details for this statement. The Authentication Code generated will be for that particular statement
• Generic Validation – On this screen, details about a generic statement will be asked.
For e.g., If you want to update your profile, you have to provide challan details and PAN-Amount details about a generic statement will be asked. The Authentication Code generated will be for the FY, Quarter and Form Type displayed on the validation screen
It is advised to copy and save the Authentication Code so that you can reuse it for that day for the same statement.

Question (3) : Should I enter Authentication Code if I am trying to clear validation details for the first time during a day?
Answer : No. While trying to clear validation details for first time, you will not have the Authentication Code, hence you are not required to enter this value. You can proceed by entering other details for validation on this screen (i.e., Token Number, CIN / BIN Details and PAN-Amount). On completion of validation, Authentication Code will be generated and displayed when you proceed to next page.

Question (4) : Is it mandatory to enter Authentication Code?
Answer : No. If Authentication Code has been generated for the statement for which you are filling up validation details, you can enter it in the field provided for the same. It will facilitate users to avoid filling up validation details repeatedly in case user logs in again at different time of the day. If it has not been generated or if you have not saved it, you can proceed by entering other details on this screen (i.e., Token Number, CIN / BIN Details and PAN-Amount).

Question (5) : What is the advantage of Authentication Code?
Answer : Authentication Code is generated to facilitate users to avoid filling up of validation details repeatedly in case user logs in again at different time of the day.

SOURCE : TDSCPC
Best Regards,
- SUNIL RAJAI