Service
TDS, TCS & TRACES Compliance
Withholding-tax compliance on the TRACES portal: quarterly statements, certificates, corrections and lower-deduction certificates.
Tax deducted at source is where most interest and late-fee leakage happens in growing businesses. We run the monthly deposit and quarterly statement cycle on TRACES and fix the defaults before they turn into notices.
What is included
- 1st
Monthly TDS / TCS deposits
Section-wise liability computation, challan payment by the 7th (30 April for March) and challan-to-statement mapping.
- 2nd
Quarterly statements
Forms 24Q (salaries), 26Q (residents), 27Q (non-residents) and 27EQ (TCS), validated through the File Validation Utility before filing.
- 3rd
Certificates
Generation and distribution of Forms 16 and 16A from TRACES, including Part A/Part B assembly for employees.
- 4th
Corrections & defaults
Online PAN corrections, challan corrections, justification-report analysis and clearing of short-deduction, late-payment and late-filing defaults.
- 5th
Lower / nil deduction certificates
Applications in Form 13 for certificates under the lower-deduction provisions and Form 15G/15H handling.
How the work runs
Calendar
One shared calendar for deposits, statements and certificates.
Validate
PAN and rate checks before every deposit.
Clear
Justification report reviewed every quarter; defaults closed within the quarter.
Who this is for
- Employers running payroll
- Businesses paying contractors, professionals and rent
- Companies paying non-residents
- E-commerce operators and TCS collectors
Related questions
TRACES (TDS Reconciliation Analysis and Correction Enabling System) is the Income Tax Department's portal at tdscpc.gov.in for everything related to tax deducted or collected at source: viewing Form 26AS, downloading Forms 16 and 16A, filing correction statements and checking defaults through justification reports.
TDS deducted in a month must be deposited by the 7th of the following month, except tax deducted in March, which is due by 30 April. Quarterly statements in Forms 24Q, 26Q and 27Q are due on 31 July, 31 October, 31 January and 31 May for the four quarters. TCS statements in Form 27EQ are due on 15 July, 15 October, 15 January and 15 May.
Form 16 (salary) must be issued to employees by 15 June after the end of the tax year. Form 16A for non-salary deductions must be issued within 15 days of the due date for filing the quarterly statement, that is by 15 August, 15 November, 15 February and 15 June.
TRACES raises a default, usually short deduction at the higher rate or unmatched challan. It is fixed by filing an online correction statement: PAN corrections, challan additions or corrections and deductee-row changes can all be made on TRACES with digital signature. We review the justification report every quarter and clear defaults before interest accumulates.
Talk to us
Talk to us about tds & traces
A short call is usually enough to understand the scope and suggest the right approach. In person at Kalyan Nagar, by video or by phone.