The income tax department has eased its lengthy process by enabling online correction of PAN and Challan via TRACES website
Income Tax (I-T) Department’s has eased the process of correction or modifications in PAN and challan. The TDS reconciliation analysis and correction enabling system (TRACES) has eased the lengthy process and becomes more user-friendly and hassle free with few easy steps in correcting errors by enabling online correction of PAN and challan.
The good news is now tax payers do not need to go through a long procedure of filing ‘revised return’ just to change or rectify the PAN details. Tax payers, after logging into their account on TRACES website,can directly file online correction for PAN and challan errors.
The process of correcting PAN and challan errors is described well in E-Tutorials which made it easier. It is also safe and secure as it requires digital signature mandatorily before correcting any errors. Tax payers can register their digital signature in ‘profile’ after registration. TRACES also enables online registration of digital signature.
TRACES can also enable refund of Challan and online verification of Tax deduction at source (TDS) certificate.
TRACES has been set up by TDS centralised processing cell of the income-tax department. Income tax department’s initiative of TRACES is a web-based application which provides an interface to all stakeholders associated with TDS administration. It provides online correction of TDS returns, viewing of challan status, downloading of various conso files, justification report and Form 16 /16A, as well as viewing of annual tax credit statements (Form 26AS).
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