TDS forms 16/16A are essential to file to ensure your tax liabilities are reduced. Trace's website is one of the most popular TDS websites. How can I download form 16/16A from Traces? What are its uses?
Traces is an online portal for filing TDS returns, corrections, and other TDS Documents. Form 16/16 A is a TDS certificate issued for non-salary payments like professional fees, interest, rent, contractual payment, etc. Further, it contains the nature of the income and the amount of TDS deducted. There are many websites from where you can download form 16/16A. However, Traces are one of the most popular that you can use to download the TDS forms. Because it offers various services offered to the tax deductor, in this article, know Form 16 Download and benefits of the Traces in detail.
Uses of Traces Website
The Traces TDS website consists of various uses that make it the most popular TDS website. These are some of the services in detail:
- You can view and download the 26AS form.
Form 26AS is the annual statement that includes tax deduction at source, information regarding tax collected by the tax collectors, the advance tax you have paid, and self-assessment tax deposited. Regarding mutual funds, shares, etc. further, it is essential to view the form to rectify eros and download the same for keeping a copy of the same for future reference.
- File for TDS/TCS statement corrections.
Some of the TDS websites only offer only TDS/TCS filing options. But to ensure that the TDS/TCS statement is correct, you will need to ensure that the statement correction option is available on the website. Traces website comes with TDS/TCS statement correction option where you can file for the same and rectify the errors.
- The individual can view the status of the challan.
Most people prefer to view the status of the Tax payment they made by tracking on the respective website. However, very few websites like Traces help you consider the status of the challan to ensure that the amount of tax is under your Name and is deposited at the right place.
- You can submit the refund request online.
You will need to get a refund of the amount you paid under emergency circumstances. You may have to contact the organisation directly to request a refund. The Traces website will help you submit the refund request online. Saving your time and energy.
- They help in downloading the consolidated 16/16A forms.
One of the essential benefits of Traces is that the consolidated TDS forms 16/16A can be downloaded from the website by the deductors to analyse the tax liabilities of the deductee. Further, they can also download the justification report of the tax deductions.
- Traces allows corrections of previous TDS return forms.
Not every TDS website allows the individual to correct the previous TDS returns form. But Traces website enables you to rectify your mistakes and make the last return TDS forms perfect effortlessly.
- It helps in the online correction of the OLTAS challan.
The OLTAS challan is a record of the Income-tax department used to receive information and taxes paid through banks. Traces website allows you to fill the challan and help in online correction of the challan.
Thus, these are some of the uses of the Traces website that make it popular among the people.
How to Register on Traces?
Now that you know the uses of the Traces website, it is essential to know the steps to register on the website. You can download the 16/16A forms by registering on the website. These are the steps for the same:
- Visit the Traces website, and under the drop-down options, select “Register as new link.”
- Next, click the Taxpayer option, and a tab opens to the registration form for new users asking for more details.
- Input all the details like PAN details, DOB, and Name of the individual, along with the option to click on the right need of the individual. Further, confirm the form and create an account.
- After the activation of your account, an OTP in the form of an activation code is sent to your mobile number to verify the same.
Services Offered to Deductor by Traces
The Traces website offers various services to the deductor. They are:
- The first and the essential service provided by the Traces website is the registration of users.
The users can register on the website and proceed with the TDS process further. Only registered users can access the website.
- Users can view the challan status.
The website allows the users to view the challan status to ensure that their payment is deposited correctly.
- It helps download the justification report of the TDS form.
Traces website helps in downloading the justification report of the TDS form. This gives detailed information on the tax liabilities and their justifications.
- Traces help in managing the user profile and password.
The website helps you manage your profile and further change the password at your convenience.
Thus, these are some of the services offered by Traces to the deductors. Further, it benefits them more.
How to download the 16/16A form from Traces
To download the 16/16A form from Traces, you must follow specific steps. These are:
- Login to the traces website, enter the user ID, password, TAN, or PAN, and confirm the captcha.
- Go to the downloads option on the tab and select required form 16 or 16A.
- Next, select the financial year and PAN for which you have to download the form and click on the “go” option.
- Once you click on the “go” option, a tab will open displaying the user’s details and who is authorised to the page.
- Select either one of the KYC validations to update the KYC.
- Once the KYC is updated the success page.
- Further, navigate to the required downloads.
- Download the Traces utility.
- Enter the verification code for the same.
- Extract the zip file, save and download the PDF.
Conclusion
Overall, the 16/16A form is essential for filing your TDS: https://incometaxindia.gov.in/Pages/default.aspx, and downloading the form by following these steps will help you complete the process successfully.
Read also;
