The Income Tax Department has released the following new
File Validation Utilities on 12 August 2013 which would be mandatory from
September 01, 2013:
• FVU version 3.9 for FY 2010-11 and onwards.
• FVU version 2.135 up to FY 2009-10.
FVU version 3.8 and FVU Version 2.134 are applicable upto
August 31, 2013.
§ Change
in validation of quarterly TDS/TCS statements are as below:
§ Book
entry flag should not be provided in the challan details for nil challan/nil
transfer voucher for all the financial years.
§ In
the salary details (Form 24Q Q4 – Annexure II), if PAN provided is invalid
(i.e. PANNOTAVBL, PANAPPLIED & PANINVALID), then the flag in the column
“Whether tax deducted at higher rate” mandatorily needs to be “Yes” for TDS
statements pertaining to FY 2013-14 onwards.
§ Mandatory
to mention at deductee details “Country of Residence of the deductee” in TDS
statement (Form no. 27Q only – Regular and Correction) pertaining to FY 2013-14
onwards.
§ Change
in name of the field of as below:
§ In
the deductee details (Form 27Q – Annexure I), name of the field “Country to
which Remittance made” has been changed to “Country of Residence of the
Deductee”.
§ In
the deductee details (Form 24Q – Annexure I), name of the field “Taxable amount
of which tax deducted” has been changed to “Amount paid/Credited”.
§
FVU version 3.8 and 3.9 are
applicable upto August 31, 2013. Further, FVU version 3.9 would be mandatory
from September 01, 2013.
§ Change
in validation of quarterly TDS/TCS statement wherein “Book entry flag” should
not be provided in the challan details in case of nil challan/nil transfer
voucher.
§ Change
in name of the field of as below:
§ In
the deductee details (Form 27Q – Annexure I), name of the field “Country to
which Remittance made” has been changed to “Country of Residence of the
Deductee”.
§ In
the deductee details (Form 24Q – Annexure I), name of the field “Taxable amount
of which tax deducted” has been changed to “Amount paid/Credited”.
§ FVU
Version 2.134 and 2.135 are applicable upto August 31, 2013. Further, FVU Version
2.135 would be mandatory from September 01, 2013.
TDSMAN software has been
updated with the newly released FVU versions (FVU 3.9 and FVU 2.135) which
would enable the TDS returns to get validated with these new FVUs.
Therefore, we recommend using TDSMAN
software for the preparation of TDS returns as FVU 3.8 will not work after 31st
August, 2013. The software consists of various features which can help a
deductor to file his eTDS/eTCS returns easily and smoothly. Apart from being
fully compliant with TRACES, the software also provides access for online PAN
verification.
TDSMAN
covers all four quarters of financial year 2013-14 and all previous years up to
2007-08. There is no limitation and / or restriction on the number of
deductors, deductees or employees. One can download the fully updated
free trial version of the software to file the TDS returns (subject to maximum
of 30 entries).
TDSMAN (FY: 2013-14) is priced at Rs. 3,000.
For
StudyCafe subscribers, we have negotiated a very special discount of 10%.
Click here to
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