Saturday, January 25, 2014

How To Open Traces Website To Download Form 16B From Outside of India

 How To Download Form 16B From Traces Website Outside of India

Till Date Traces website https://www.tdscpc.gov.in is not accessible from overseas. It's only accessible within India. You will get following error if you try to open website outside of India:


"Site is not available due to technical reason".


Options to download form 16B if you are living abroad:

  1. Hire a Chartered Accountant in India who can help you downloading it
  2. Take help of someone in India to register on your behalf and help you downloading it
  3. Use online tools such as, LogMeInWebEx, GoToMeeting which provides screen sharing option. You can use these tools to take control of computer of someone in your family in India or guide while sharing screens. Your friend or family member can open the site for you and share the screen with you or if you have taken control of their PC you can open it yourself. Personally I used LogMeIn and used remote control feature.
  4. Use a VPN or a Proxy service. Please use paid services only as you would be supplying your sensitive information over the web using these services.


Leave your comments below if you like this post or have any other suggestions to open traces website outside of India.

Friday, January 24, 2014

Reason For Getting 0 (Zero) Balance Amount on Form 16B | TDS on Property

Wondering why you are seeing 0 amount after downloading form 16B from Traces website for paying TDS online? It is most likely that you did not pay the TDS as "Income Tax" as explained on my this http://nriinformation-india.blogspot.ca/2014/01/what-option-to-select-while-paying-tds.html blog post. You will need to contact the concerned officer in IT department to fix this error. As far as I know there is no online mechanism on Traces website to correct this error.

What Option To Select While Paying TDS Through Bank's NetBanking Website

What Option To Select While Paying TDS Through ICICI Bank's NetBanking Website:

After filling and submitting form 26QB on NSDL's website (https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp), I was taken to ICICI's website where I was again given boxes to fill the payment with following categories:

  - Income Tax  
  - Surcharge  
  - Education Cess  
  - Interest  
  - Penalty  
  - Others

It's confusing but you will need to pay TDS as "Income Tax" as TDS is a type of Income Tax as told by my Chartered Accountant in Delhi, India.  

Once payment was made on Bank's site, a "Direct Tax Payment Challan Report" was generated by ICICI Bank which had listed CHALLAN NO. / ITNS 280 on the top left corner of the report. I got confused with this challan no. / itns 280 and wondered if I made the payment right. My father in-law then consulted with an inspector at IT department who said it was all good. The report mentioned Type of Payment as (800) TDS on Sale of Property which is category of income tax.

Thursday, January 23, 2014

Invalid Details Error While Registering on Traces Website India

Are you getting invalid details error while registering on Traces website? There may be one of the following reasons:

- You have not waited enough after paying TDS through Form 26QB. Wait 4 days to a week before trying to register on Traces website. How to register blog can be found here
-  You have not mentioned your First Name. Even though First Name is not a mandatory field but it needs it to complete the registration.
- Other unknown error. Please leave a comment for other after fixing the error.

How To Download Form 16B From Traces Website India | TDS on purchase of Property

Have you purchased a property in India and wondering how to obtain form 16b from traces website after filling form 26QB?

Downloading Form 16B From Traces Website:

You need to register on Traces website https://www.tdscpc.gov.in as a Tax Payer (Even though there is an option to register as a deductor please DO NOT register as deductor). TDS is a kind of income tax that we are paying on behalf of seller/builder.

You will need following to register on Traces website:

1. PAN Number
2. Date of Birth
3. Last Name / Surname
4. First Name


Even though First Name is not marked as required field but in fact it is a required filled so do not forget to fill it in while registering.




You will also need details from the Challan No. /ITNS 280 (Challan Serial Number and TDS Amount paid)

Once you have registered successfully and logged on to Traces website successfully, submit a request for Form 16B. First it takes the request for Form 16B which becomes available in few hours (Can take up to few days) and then you download it when it becomes available.



Saturday, January 18, 2014

1 % TDS Deduction on Property Purchases in Joint Ownership (Co-owner with Wife)

If you have purchased an under construction property in India in joint ownership with wife then both husband and wife needs to file Form26QB independently.Form26QB is available at TIN's website

Starting 1 June 2013, the 1% tax deducted at source (TDS) has been applicable on the value of transfer of immovable property worth Rs 50 lakh and above.

Visiting following links you will get detailed information. In case you have queries leave the comment and I will try to answer to the best of my knowledge as soon as possible.

- http://www.indianrealestateforum.com/real-estate-gurgaon/t-tds-immovable-property-1st-june-2013-a-58965.html

- http://care2earn.blogspot.ca/2013/06/1-tds-on-sale-of-immovable-property.html