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Processing of 24q and 26q

Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)

16 May 2013

We submitted 24Q and 26Q to TIN FC on 10 May 2013 for last quarter of FY 1213. Can anybody advise when we will be able to download and issue TDS certificates to deductees ? How long TRACES take to process the same.

REgards,

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5 Replies

PMA Nooruddin (M.Com, Finance Manager) (422 Points)
Replied 16 May 2013

Becoz of The Data Transfer from NSDL to TRACES the IT has not committed any time limit, it is happening case by case..ie in some cases its pretty fast but some its dead slow

No other way aprt from waiting or

1) you can call this Traces CPC and enquire

2) Regulary check the status of your returns...

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AMIT KUMAR JAIN (CA) (94 Points)
Replied 16 May 2013

As regards issue of Form No.16 is concerned, you can isseu them as soon as you get an acknowledgement from the TIN-FC after submitting the 24Q Return to them or you yourself uploading them online. You need not wait for its processing.

As regards the issue of Form No.16A is concerned, you can ask any of your deductee whether has he receied the credit of TDS in his 26AS Statement or the Statement issued by TRACES.

So, "DONT WAIT FOR THE THINGS TO HAPPEN, MAKE THE THINGS HAPPEN".

PMA Nooruddin (M.Com, Finance Manager) (422 Points)
Replied 17 May 2013

Form 16 now cant be manually issued, Part B of Form 16 is to be issued manually but Part A of Form 16 is to be downloaded from TRACES, applicbale from 1st April 2012

Now if you have to do this you have to wait till your returns get uploaded and updated....

at times slow and steady wins the race....

AMIT KUMAR JAIN (CA) (94 Points)
Replied 17 May 2013

If you analyse Only Form No.16 has a practical application because the Details of Salary Income is contained in Part B of the said Form. Though Part A of it is to be issued from TRACES, but the remaining part of it can be issued manually. Lateron when the TDS return gets uploaded you can give Part A from it.

As regards Form No.16A is concerned the taxpayer cannot get credit unless it is reflected in his 26AS whether we issue Form No. 16A or not. So it does not have any practical application. If any one insist on the same, you can provide it.

CA Kanchan Bapat (Finance Executive) (21 Points)
Replied 17 June 2013

Hi, We have filed revised returns of Q1,Q2 and Q3 for 24Q on 15th May 2013, till date Form 16 part A, available at traces not reflecting revision done. Everytime I call at traces for follow up, i get ans we are in process of solving your problem, we can not commit time for this, please try after 7 days. I am following up from last 15 days, further one of our employee is expat and needs from 16 to sumbit in FRRO and visa office. Please suggest some solution.