But the amount of set offs required too many regulations and compliances which in the larger picture was burdening the resources of businesses. The person who pays the taxable income is made responsible for calculating, deducting and remitting the taxable income before making the payment to the taxpayer. The TDS system is a very efficient way of plugging the leak in tax revenue when it came to income groups with a uniform source. One of the aspects of the system that urgently needed some sort of digital solution was the TDS system. With the highest number of taxpayers in the world, against a severely understaffed and underfunded tax department, digitization became a top priority in terms of solving the massive tax leaks in our tax revenue collection system. So it goes without saying that digitization is not just an advancement but a necessity for a country as populous and yet enterprising as ours. Population is a very large factor when it comes to considering digitization. In this article we will discuss the TRACEs system launched by the government and understand its features and it functioning
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