Income Tax Department unveils TRACES portal for TDS TCS
The Income Tax Department just rolled out a revamped TRACES portal to make TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) tasks much simpler.
The new system, live from April 1 under the Income Tax Act, 2025, brings all your tax deduction and collection needs onto one easy-to-use digital platform.
TRACES unified dashboard, Forms 138 140
You'll now find a unified dashboard with quick access to TDS certificates and forms.
Instead of Forms 24Q and 26Q, you'll use Form 138 for salary-related TDS and Form 140 for payments like rent or professional fees.
The process for property transactions (Form 26QB) stays the same, but there's a new "single tax year" feature to cut confusion.
Plus, nonresident taxpayers get their own portal, while everyone else gets auto-redirected from the old site, so no need to hunt down new links.