Tax Deducted at Source (TDS) is an essential mechanism for tax collection, ensuring that taxes are deducted at the source of income. The Central Board of Direct Taxes (CBDT) oversees TDS deductions, and as a taxpayer, it’s vital to regularly check your TDS status. One of the simplest ways to do this is by using your PAN card. In this guide, we'll walk you through the steps to check TDS status using your PAN card, ensuring compliance with tax laws and avoiding penalties.
What is a TDS Return?
Before diving into how to check TDS status using your PAN card, it's crucial to understand what a TDS return is. A TDS return is a quarterly statement filed with the Income Tax Department. It includes details of the TDS deducted by a deductor, such as:
- PAN of the deductor
- Amount of TDS deducted and paid
- Information about the TDS challan used for payment
Every person or entity that deducts TDS must file this return on time, and you, as a taxpayer, can check your TDS status using your PAN card to ensure that the deductions are accurately reflected.
How to Check TDS Status Using Your PAN Card
Checking your TDS status is easy and can be done online. Here’s a step-by-step guide on how to check TDS status using your PAN card:
1. Visit the Official TDS Portal
To start the process, go to the official website for TDS status tracking, known as the TRACES portal. TRACES (TDS Reconciliation Analysis and Correction Enabling System) allows you to view the details of your TDS using your PAN card.
2. Enter Verification Code
Once you are on the TRACES portal, you will see a verification code on the screen. Enter this code in the designated field to proceed with the process.
3. Proceed
After entering the verification code, click on the ‘Proceed’ button to move forward.
4. Input PAN and TAN
Now, input your PAN (Permanent Account Number) and TAN (Tax Deduction Account Number). These numbers are essential for pulling up your TDS details.
5. Select Financial Year and Quarter
Next, select the relevant financial year and quarter for which you want to check your TDS status. It’s important to choose the correct period to get accurate data.
6. View Details
Finally, click on ‘Go’ to view the status of the TDS deducted and paid on your behalf. This is how you can easily check TDS status using your PAN card through the TRACES portal.
How to Check TDS Credit Using Form 26AS
Another method to check TDS status using your PAN card is by viewing your Form 26AS. This form contains detailed information about the taxes deducted at source and credited to your PAN.
FAQs on Checking TDS Status Using PAN Card
1. Which TDS certificates are applicable to salaried individuals?
Salaried individuals receive Form 16, which serves as the TDS certificate for salary income. Additionally, Form 16B is used for TDS on property sales, and Form 16C is for TDS on rental payments.
2. What form is used for filing TDS on rent?
Form 26QC is used for filing TDS on rent. It must be filed within 30 days from the end of the month in which the TDS was deducted.
3. Who is responsible for making TDS deductions?
The person or entity making the payment that is subject to tax is responsible for deducting TDS and submitting it to the government.
Conclusion
It is important to regularly check your TDS status using your PAN card to ensure that all your tax deductions are accounted for. Whether you use the TRACES portal, Form 26AS, or the Income Tax e-Filing portal, the process is simple and efficient. By staying on top of your TDS status, you can avoid penalties and ensure that your tax returns are filed accurately and on time.
