By CA Manoj Kohli 27th jan.,2013 TRACES stands for TDS Reconciliation
Analysis and Correction Enabling System and has been set up by TDS
Centralised Processing Cell of the income-tax department.
TRACES will integrate the following components
1.Tax information Network\
2.Automated TDS Challan Matching
3.TDS Defaults Processing
4.IVR/ Call Centre
5.Web Portal
New Web Portal : https://www.tdscpc.gov.in
The new portal has been created using latest technology to enhance
swift interaction between the deductor, deductee, income-tax
department and CPC. The following features are/ will be available to
deductors and deductees
•Dashboard giving summary of Deductors account
•Online registration of TAN
•Online filing of TDS Statements
•Online corrections of TDS statements
•Default Resolution
•View Form 26AS
•Download Form 16/16A/Consolidated TDS File
•Grievance registration and resolution
Not all of the above features have been activated so far