NSDL has released the much awaited FVU 4.6 version for Statements Pertaining to FY2010-11 onwards and FVU version 2.142 for statement up to FY 2009-10.
The new File Validation Utility is applicable from 21st April 2015, and it’s mandatory to generate the quarterly TDS statements using the above mentioned FVU for both regular and correction statements.
SaralTDS is updated with HotFix-2 for v15.02 with above mentioned latest FVU versions, users can update the same by clicking ‘Check for Updates’ in the software or can also download the HotFix-2 from customer login area.
The Key Features of the new FVU is as follows:
Quoting of PAN of responsible person for deducting / collecting tax.
It is now mandatory to mention the PAN of the Responsible person in Deductor Details, applicable for both regular and correction statements. Please note the PAN should of the Individual (4th Character of PAN should be P) who is authorised and responsible for TDS filing.
Quoting of AIN mandatory only if the TDS/TCS has been deposited by book entry i.e., through transfer voucher.
Now for Government Deductors, if they are making the TDS/TCS payment through Book Entry (Transfer Voucher), it’s mandatory to mention AIN (Accounts Office Identification Number) in the Deductor Details.
Enhancement of deduction allowed under section 80CCE from Rs. 1,00,000/- to Rs. 1,50,000/-.
There was increase in the 80CCE limit from 1,00,000 to 1,50,000 in the Finance Bill 2014. The FVU4.6 is updated to allow the increased limit, whereas the earlier FVU was throwing a validation error while eReturn where the 80CCE amount was more than 1,00,000.
Update of tax deposit amount in deductee details enabled for the deductee records where tax has been deducted at higher rate.
However this has no significance as the TDS Deducted amount still cannot be changed for the records where the deduction remark ‘PANNOTAVBL – Higher Rate 20%’ is selected.
Reduction in the applicable list of “Nature of Remittances” (Applicable in case of Form no. 27Q).
In case of Foreign Remittances (Form27Q), there were 66 list items in ‘Nature of Remittance’. The number has been brought down by categorising the list to 12 items.