From a few years CBDT has established a Centralized Processing Cell for TDS (CPC (TDS)) unit to all TDS Payers/TDS Deductors for smooth administration of the Income Tax Department.
Before this, tax deductions operation is based as manual processes i.e. the deductees claimed TDS credits based on manual TDS certificates, issued by the deductors. There was no correlation between Tax Deductions, tax payments and issuance of TDS certificates. Thus, the conventional practice of giving credit of tax deductions, based on manual TDS certificates was open ended leading to tax frauds.
This new Centralized Processing Cell for TDS (CPC (TDS)) has been conceptualized to ensure a seamless flow of date for tax credits. It leverages technology to provide efficient services.
TRACES enables deductors / collectors to view status of challans and TDS-TCS credit for a PAN. They can also download Conso File, Form 16 / 16A and Justification Report after logging in to their account on TRACES.
For smooth work download this new TDS-TCS Handbook for all TDS Payers/TDS Deductors (Click Here)
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