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Why does TRACES (tdscpc.gov.in) have different types of Authentication Codes?

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.