TRACES is the online portal for filing TDS Returns, correction of TDS Returns and downloading TDS documents. Section 197 of the Income Tax Act provides the benefit to deduct tax at nil rate or lower rate. Below is the process to download certificate u/s 197 for Section 194M from FY 2019-20 onwards.
- Deductee applies for the certificate by filing Form 13 with the Assessing Officer
- The Assessing Officer approves the application
- Deductee submits the certificate to the deductor
- Deductor submits the certificate details and validates the certificate before filing TDS Return
- Deductor can download the certificate from his account on TRACES after login as a Taxpayer on TRACES
Process to download TDS Certificate u/s 197 for TDS u/s 194M
- Log in to TRACES
- Navigate to Download 197 certificate for section 194M
Go to Downloads > Download 197 Certificate for Section 194M
- Details of the certificate
Enter Financial Year and Deductee PAN. Click on ‘Proceed‘. The details of the certificate will appear on the screen
- View/Download the certificate
Click on the hyperlink ‘Download / View Certificate‘ to view or download the certificate
FAQs
As per the Income Tax Act, there is no specified deadline to submit application u/s197. However, it is advisable to make an application at the beginning of the financial year so that the TDS Return is filed with correct calculations.
Certificate u/s 197 issued for a financial year is valid from the date of issue up to the end of the financial year. However, if it is cancelled by the Assessing Officer before its expiry, it is considered to be invalid
1. An individual or HUF, who has to make payment to a resident for a contract work completed or any professional service provided, will have to deduct tax at source u/s 194M
2. As per the Union Budget 2019, any individual/HUF paying any sum to a resident, for carrying out any work (including the supply of labor) under any contract or by way of fees for professional services rendered during the financial year, exceeding INR 50,00,000 in a year will have to deduct TDS at the rate of 5%
Hey @HarishMehta
Taxpayers or deductee cannot directly download form 16/form16A, the option to download Form 16/ 16A has been given to the Deductor. So, if you need Form 16 / 16A for TDS deducted by your current or previous employer or deductor you will have to contact them for the same. There is no option available on TRACES whereby you can download it yourself.
Hope this helps!
Hey @Dia_malhotra
Yes, individuals can still register as a taxpayer on TRACES even if they do not have TAN of the deductor by providing:
• Assessment Year
• Challan Serial Number and
• Amount of tax you have paid
Hope this helps!
In my Justification Report it shows an interest payable error whereas I’ve already paid the interest for that particular month According to the regulations what could be the reason for this?
Hi @saad,
According to regulations, interest payment default/errors may arise due to error in challan details , short deduction, short payment, late deposit of TDS amount. Here, you can file correction statement and revise the return.
Hope this helps!
@AkashJhaveri @Saad_C @Kaushal_Soni @Divya_Singhvi @Laxmi_Navlani can you help with this?
Hey @raopreetham, the first thing I would recommend you to do is to run the Emsigner as an administrator. Also, if it still does not seem to work, install the below mentioned JAVA fixer software and run it as an administrator and hopefully this would resolve your issue.
https://johann.loefflmann.net/downloads/jarfix.exe
The USB e-pass 2003 token device is particular type of a DSC.
hello, i want to cancel the TDS on sale of property (26QB) which i created in hurry. i have made login and tried the TRACES refund option. But the total amount of TDS is “Consumed” and Max refund amount is zero.
What is my option now? TDS was paid on 16th Oct ( 6 days back). Hoping for a solution on this.
Hi @nisshant
26QB is the challan cum return statement. As soon as you file the form, TDS amount paid by you gets utilized. There are few corrections that are allowed in form 26QB. You can refer to the article below. You cannot get the refund of the taxes paid through an online method. You can contact concerned Assessing Officer (AO) of the Income Tax Department (ITD).
You can also contact Aaykar Sampark Kendra (ASK) on Toll Free No. 1800-180-1961 to ask for help.
Hope this helps!
Hi @Jatin_Sahu
Yes, you can file 26QB correct request with registering a DSC and file te new request.
Here’s a read for your reference on TRACES: Form 26QB Correction DSC/ AO Approval - Learn by Quicko