What are TRACES?

Traces

Traces

Expanded abbreviation – TDS reconciliation analysis and correction enabling system It is a utility provided by the Income Tax Department for a Taxpayer and the deductor/collector to check online the taxes paid by them & reconcile the records for final filing of IT returns or seeking refunds from the Income Tax Department. You can view / download Form 26AS from the TRACES portal
Form 26AS shows you the following information
  • Tax deducted at source by all deductor who deducted TDS from your income
  • The tax collected at source by all collectors who collected TCS from your invoices or sales
  • Advance tax paid by the taxpayer
  • Self-assessment tax payments
  • Details of Income from high-value transactions
Form 26AS has a prescribed format with different parts which can be easily read & understood
  • Part A – Details of TDS
  • Part A1 – Details of TDS arrived from Form 15G and 15H
  • Part A2 – Details of TDS from high-value transactions
  • Part B – Details of TCS
  • Part C – Details of tax paid (other than TDS or TCS)
  • Part D – Details of refunds (if any)
  • Part E – A detailed Statement of Financial Transactions
  • Part F – Details of TDS on sale of immovable property, rental income, contract & professional income
  • Part G – TDS defaults
  • Part H – Turnover details from GSTR – 3B
Form 26AS is your Tax Credit Statement by Income Tax Department available for you at TRACES
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