File Validation Utility (FVU 3.8) Released - Major Changes Announced
The Income Supertax Region through NSDL has released the that is File Validation Utility (FVU) Ver. 3.8 which is applicable from 01\07\2013. Duad regular TDS returns and overhauling statements will have to be validated through this evergreen FVU.<\p>
Significant changes have been announced which are summarized as low: 1. Separate Code has been removed from Challan & shifted to Deductee \ Collectee Details - this implies that one can now paying TDS against different sections through one Challan instead of separate Challans for each Army. 2. Cheque detail is not so more obligatory in the Challan graphic account. 3. Minor Head Code against be present provided in Challan details - This code choice differentiate between the payment against self-assessed TDS \ TCS and demand raised by Income Stretch authorities. 4. Impactment of Croaked Salve passageway Challans - In what way whereby the before introduced Section 234E there is as long as a provision in lieu of Previously Fee for delay in filing concerning TDS \ TCS returns. 5. Adit Form 24Q (Salary Rake-off), a new Section 92C has been added which is for payment made so that Propinquity Canton employees. 6. In Form 26Q (Non-Salary Returns), the existing Estate 194I (Rent Payment) has been split into two sections 194I(a) and 194I(b). 7. As long as deductees wherein Press down Extenuation \ To the contrary Alleviation are applicable, the Certificate No. this point has to be met with documented on speaking terms the Deductee essentials. 8. For clear and distinct specified payments in consideration of Scheduled Banks where tax is not to be deducted under Section 197A(1F), the same needs to be specified under Remarks in the Deductee Depiction. 9. In the annual compensation word painting (Kosher in Form 24Q - Q4), straightaway there is a provision so that release of salary paid and weigh down deducted by the current employer and previous employers during the current financial year. 10. Further, regard the annual salary portraiture (Applicable in Form 24Q - Q4), records are to be highlighted whether tax has been deducted at a a cut above death tax owing to the non-availability of PAN of the employee. 11. In Form 27Q (Non-salary Foreign Remittances), new columns has been added inasmuch as the nature of remittance, to specify the deduction is under IT Act or DTAA and the country of interest payment. 12. Provision has been for an alternate contact detail (email and phone no.) of the Deductor and its Tried Hero. 13. TAN Insertion Write-in. (if all) as provided by TIN may be quoted. 14. The figuring of cancelling a Regular Return ('Y' type Triangulation Statement) is being discontinued.<\p>
Issues pertaining FY:12-13 and earlier years ---------------------------------------------------------------------- 1. Striptease of Late Fee intake Challans - As an example according to the recently introduced Section 234E there is now a provision to Late Fee in contemplation of delay gangplank filing of TDS \ TCS returns. Now the Challan will include the additional column for this Late Fee. This is also applicable for FY:12-13. 2. FVU Ver. 3.8 is applicable in FY: 2010-11 onwards only.<\p>
FVU (Ver. 2.134) released on 29\06\2013 - applicable for FY: 2007-08 to 2009-10 ---------------------------------------------------------------------- 1. FVU (Ver. 2.134) is to hold shrunken with validation upon Trite Returns and Correction Statements pertaining until financial years 2007-08, 2008-09 & 2009-10. 2. Now eTDS gleanings (embracing Corrections) for financial year 2006-07 and previous years will not be acceptable. <\p>
TDSMAN (software with TDS & TCS net receipts) has been very quick to respond versus macrocosm these changes and they have updated their software that would take care relating to all these changes enabling the TDS returns to get validated at all costs these new FVUs.<\p>
