Latest e-TDS/TCS 4.0 Version with TDS Adjustment Features w.e.f. 01.10.13.

Good News for All deductors, TIN-NSDL has released new FVU version 4.0 and 2.136 for TDS Deductor's and TCS Collector's which is mandatory  w.e.f. 01.10.2013 . In FVU version 4.0 new validations have been added. However a new validation is beneficial for deductor, under which deductor can also insert challan deposited in immediate previous financial year. It means if, TDS Deductor are filing there e-TDS Return for Fin. Year 2013-14, then they can also deposited challan for previous Fin. Year i.e. FY 2012-13. All the deposited challan can be carry forward in Financial Year 2013-14.

Key Features of FVU Version 4.0

• Change in validation of Section code 194LC:

1.       Section code 194LC will be applicable only for deductor category (as per the statement) “Company” and “Branch of Company”.

2.       This validation will apply for regular and correction statements.

• Incorporation of new section code 194LD: This Section code will be applicable for:

1.       Regular and correction statements pertaining to FY 2013-14 and onwards.

2.        Statement pertaining to Form no. 27Q.

• Nil challans/transfer vouchers with deductee record: Validation as below will be applicable:

1.       Nil challans/transfer vouchers need to mandatorily have deductee records.

2.       In deductee records, flag in the remarks for lower or non-deduction should be “A”, “B”, “Y”, “S”, “T” or “Z” (as applicable).

3.       This validation will apply for regular and correction statements.

• Last provisional receipt number to be quoted in regular TDS/TCS statements: Deductors are require to mandatorily quote the last accepted provisional receipt number of the regular quarterly TDS/TCS statement.
• Date of deposit of Non-nil Challan: Validation for Date of deposit of non-nil challan has been relaxed. This date can pertain to immediate previous financial year of the statement.
• FVU version 3.9 and 4.0 are applicable upto September 30, 2013. Further, FVU version 4.0 would be mandatory from October 01, 2013.

Key features 2.136(FVU for quarterly e-TDS/TCS statement upto FY 2009-10)

• Nil challans/transfer vouchers with deductee record: Validation as below is applicable:

1.       Nil challans/transfer vouchers need to mandatorily have deductee records.

2.       In deductee records flags in the remarks for lower or non-deduction should be “A” or “B” as applicable.

3.       This validation will apply for regular and correction statements.

• Last provisional receipt number to be quoted in regular TDS/TCS statements: Deductors are require to mandatorily quote the last accepted provisional receipt number of the regular quarterly TDS/TCS statement.
• Date of deposit of Non-nil Challan: Validation for Date of deposit of non-nil challan has been relaxed. This date can pertain to immediate previous financial year of the statement.
• FVU Version 2.135 and 2.136 are applicable upto September 30, 2013. Further, FVU version 2.136 would be mandatory from October 01, 2013.

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