Income Tax: The Income Tax Department has recently introduced a new portal for TDS/TCS-related services. Just last week, they launched the TRACES (TDS Reconciliation Analysis and Correction Enabling System) 2.0 portal. This digital platform is designed to simplify TDS compliance in line with the Income Tax Act 2025, making it easier for the public to submit their claims.
What is the portal like?
The new website from the Income Tax Department, traces.tdscpc.gov.in, is easily accessible for users on their own servers. The interface of the new portal has been completely redesigned, enhancing its user-friendliness, improving navigation, and boosting overall performance. Additionally, the portal features a dashboard for downloading TDS forms and certificates, tracking TDS credits, and submitting corrections.
How can you use the TRACES portal?
To get started, first, turn on your computer or laptop. Next, open Google Chrome or your preferred search engine. After that, type traces.tdscpc.gov.in into the search bar at the top and hit enter. The new TRACES website will appear. Even if you access the old TRACES site, this link will redirect you to the new portal.
Moreover, a dedicated TRACES portal, nriservices.tdscpc.gov.in, has been set up specifically for NRI taxpayers.
Property buyers will not have access to it
Experts indicate that property buyers will not be able to utilize the TRACES 2.0 portal for TDS deposits. They also mentioned that to effectively use TRACES 2.0 under the Income Tax Act, 2025, taxpayers should consistently credit TDS on their dashboard. Instant downloading and editing of certificates, using the correct tax year, and promptly addressing any errors within the designated correction timeframe will be achievable.
The new financial year 2026-27 has begun. Most salaried individuals want to know the deadline for filing their income tax returns. However, they often forget that there are many other important deadlines besides ITR filing. In addition to return filing, there are several deadlines for advance tax, TDS, and TCS, which can be missed if penalties are imposed.
April to June – Many important tasks in the beginning itself
April is the month for TDS certificate issuance, filing of Form 15G/15H, and filing of March’s TDS or TCS. May is the month for April’s TDS deposit and annual financial transaction reporting. June is the month for the first advance tax installment, which is crucial to pay by June 15th. July 31st is one of the most important dates for FY27. Salaried and non-audit taxpayers must file their ITR by this date. Any remaining tax dues must be deposited by this time. The second installment of advance tax, or 45% of the total, must be deposited by September 15th. In audited cases, ITR filing is mandatory by October 31st. Transfer pricing reports must be submitted by November 30th. December also has two important dates: December 15th is the last date for the third advance tax installment of up to 75%, and December 31st is the last date for filing late or revised ITRs.
