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TDS is Tax Deducted at Source. It is the tax deducted from incomes such as rent, salary, commission, professional fees, interest, etc. It is deducted by the person making the payment before it is credited to the beneficiary. This TDS is then deposited to the Government by the deductor against the deductee’s PAN number.

Salaried individuals are generally issued a Form 16 at the end of every financial year that shows the TDS or tax deducted from their salary and deposited with the income tax department. Non-salaried individuals can check their TDS status using Form 26AS to check their TDS Status. Similarly, there are other TDS Certificates on various types of taxes deducted at source.

The Government of India has digitalized many aspects of the Income Tax. Beneficiaries can conveniently check their TDS status online from the comfort of their home.

There are two ways to check your TDS status; PAN Card is an important input criterion to check your TDS status online. You can either check the status through the TDSCPC Portal or through the Income Tax e-Filing Portal. Both these portals require your PAN Number.

Let us have a step by step guide on checking your TDS status on these portals.

TDS Status on the TDSCPC Portal

TDSCPC stands for TDS Central Processing Cell. This portal is also known by the name TRACES – TDS Reconciliation Analysis and Correction Enabling System. This portal serves both the deductor and the tax payee with their TDS information. This is how you check your TDS Status on this portal:

  • Visit the TDSCPC Portal. 
  • Go to the ‘Taxpayer’ tab. 
  • On this page, select the option ‘View TDS/TCS Credit’ from the left hand menu options.
  • On the first page, you will need to enter the ‘Verification Code’ to proceed to the next page.
  • Once you go to the next page, you will need to enter the PAN number of the taxpayer, TAN number of the deductor, financial year for which you are doing the search, the financial quarter for which you want the statement, and lastly, whether the deduction is on salary or non-salary income.
  • Once you have entered all these information, you click on ‘Go’. 
  • The page displays the TDS for the selected criteria. 
  • It will show the total income you have earned and the tax that has been deducted and deposited with the government.

TDS Status through the Income Tax e-Filing Portal

Another important place everyone checks their TDS statement is while filing income tax returns. Now that income tax filing is also made online, the Income Tax Portal has a way of checking your TDS statement.

  • Login to your e-filing portal with the username and password. 
  • Click on the ‘My Account’ tab and select ‘View Form 26AS’. 
  • This will direct you to the TRACES Portal. 
  • You can then choose the Assessment Year and the format in which you want to view the file.
  • The TDS details are displayed on the screen. 
  • You can also download this statement to your local drive. 
  • Once you have downloaded the file, you need to enter your PAN number to open the password protected file.

TDS Statement from your Netbanking account

Another option to check the TDS statement is from your Bank’s Netbanking login. In order to do that, your bank account must be linked to your PAN number. If that is the case, you can go to the ‘Services’ menu on your Bank’s Netbanking login. The option would be listed as something to the effect of ‘Tax Deducted Statement’. Clicking on this link will again take you to the TRACES Portal. Here you can choose the Assessment year and check the TDS Statement.

What are the details included in your TRACES Form No.26AS TDS Statement?

Why is it important to check your TDS statement? What are the information you can get from this statement? How is it helpful for taxpayers? This statement includes the following important information pertaining to your income and the corresponding tax deducted at source:

  • Amount of tax deducted by the deductor on behalf of the taxpayer 
  • Amount of tax collected by collectors on behalf of the taxpayer 
  • Amount of tax deducted on Sale of Immovable Property
  • Advance tax / self-assessment tax / regular assessment tax etc. deposited by the taxpayers with a valid PAN number
  • Details of any refund received during the financial year
  • Details of transactions in Mutual Fund, Shares and Bonds, etc. (This information is reported by AIR filer)
  • Information on any TDS Defaults related to processing of Statements

How and when is TDS filed by the Deductor?

All deductors have to file the TDS returns every quarter. TDS returns are to be submitted on a quarterly basis and different information must be given, such as TAN, sum of TDS deducted, form of payment, deductee's PAN, etc. In addition, various forms are prescribed for filing returns depending on the purpose of the TDS deduction. Different forms of return are as follows:

Form No

Transactions reported in the return

Due date

Form 24Q

TDS on Salary

Q1 – 31st July

Q2 – 31st October

Q3 – 31st January

Q4 – 31st May

Form 27Q

TDS on all payments made to non-residents except salaries

Q1 – 31st July

Q2 – 31st October

Q3 – 31st January

Q4 – 31st May

Form 26QB

TDS on sale of property

30 days from the end of the month in which TDS is deducted

Form 26QC

TDS on rent

30 days from the end of the month in which TDS is deducted

Form 26QTDS

On all payments except salaries

Q1 – 31st July

Q2 – 31st October

Q3 – 31st January

Q4 – 31st May

What is a TDS certificate? 

All TDS certificates include Form 16, Form 16A, Form 16 B, and Form 16 C. An individual or business entity deducts TDS from the assessee while making the payment. This amount is deposited to the Government against the deductee’s PAN Number. He must then issue the corresponding TDS certificates to the deductee. For example, banks issue the depositor Form 16A when TDS is deducted from fixed-deposit value. Form 16 is issued to the employee by the employer.

Form

Certificate of

Frequency

Due date

Form 16

TDS on salary payment

Yearly

31st May

Form 16 A

TDS on non-salary payments

Quarterly

15 days from due date of filing return

Form 16 B

TDS on sale of property

Every transaction

15 days from due date of filing return

Form 16 C

TDS on rent

Every transaction

15 days from due date of filing return

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