Home » TDS » eTDS Correction » FVU 3.6 : Key Changes Effective October 2012

FVU 3.6 : Key Changes Effective October 2012

File Validation Utility version 3.6 has been released  on Sept 25, 2012.

Effective Date

  • FVU version 3.6 will be mandatory w.e.f October 16, 2012.
  • Upto October 15, 2012 FVU version 3.5 and FVU version 3.6 will be applicable.
  • This means for Q2 of FY 2012-13, both FVU 3.5 and FVU 3.6 will be accepted, if filed on or before October 15, 2012.

Challan File is now mandatory during validation

  • Upto FVU version 3.5 , challan file ( with extension .csi ) was optional.  With version 3.6 , this file will be mandatory while validating eTDS file
  • The challan file can be downloaded from TIN web site under the link Challan Status Enquiry
  • This file will be required only if TDS is deposited through challans. Hence, Govt. deductors who do not use challan for depositing TDS will not be required to provide challan file during validation
  • Challan file is required for validating regular statements. For correction statements , it is required only when a new challan is added or existing challan is updated

Changes in Form 24Q : TDS on Salaries

  • For Q4 Salary details are to be provided in Form 24Q.
  • The exemption limit for senior citizens above age 80 is different from senior citizens above 60 years and upto 80 years.
  • A separate flag is now to be given for such senior citizens , appropriately termed as “Super Senior Citizens”
Description Senior Citizen Super Senior Citizen
Age Above 60 but upto 79 years 80 years and above
NIL Rate for income upto Rs. 2,50,000 Rs. 5,00,000
Category of Employee in Form 24Q S O
  • This categorization is applicable from FY 2011-12 onwards. However, since the eTDS Statements for Q4 2011-12 have already been filed upto May 31, 2012, this requirements may be applicable for those filing delayed statement or filing correction statement

Changes in Form 26Q : TDS on other Payments

  • TDS not deducted on software purchases in terms of Notification 21/2012 is now to be reported separately.
  • Above notification exempts a deductor from making deduction of tax at source, if software ( without any modifications ) is acquired in a subsequent transfer and tax has been deducted on previous transfer of software. For more details please read   http://blog.ffcs.in/2012/08/14/tds-on-purchase-of-standard-software/
  • For this purpose flag “S” is to be mentioned in the field “Reason for NIL/ Lower deduction” for transactions pertaining to section 194J
  • This requirement is applicable from FY 2012-13 onwards only

Changes in Form 27Q : Payment to Non – Residents

  • TDS not deducted on software purchases in terms of Notification 21/2012 is now to be reported separately.
  • Above notification exempts a deductor from making deduction of tax at source, if software ( without any modifications ) is acquired in a subsequent transfer and tax has been deducted on previous transfer of software. For more details please read   http://blog.ffcs.in/2012/08/14/tds-on-purchase-of-standard-software/
  • For this purpose flag “S” is to be mentioned in the field “Reason for NIL/ Lower deduction” for transactions pertaining to section 195
  • This requirement is applicable from FY 2012-13 onwards only
  • Two additional codes are introduced for the following sections

Section code

Section code to be quoted in Quarterly Statement

Applicable from FY

Description

194LB

4LB

2011-12

Interest : infrastructure debt fund

194LC

4LC

2012-13

Interest : foreign currency loans etc

Changes in Form 27EQ : Tax Collection at Source

  • The following additional codes are prescribed

Section code

Section code to be quoted in Quarterly Statement

Applicable from FY

Description

206CJ

J

2012-13

Minerals

206CK

K

2012-13

Bullion and Jewellery

9 Comments

  1. test1 says:

    I am really impressed with your writing skills as well as with the layout on your blog. Is this a paid theme or did you customize it yourself? Anyway keep up the excellent quality writing, it’s rare to see a great blog like this one nowadays..

  2. MFR says:

    What is the earliest date a TDS default report can be run after filing return.

  3. Kaniselvam says:

    I had a message in TRACES WHILE DOWNLOAD FORM 16A FOR FINANCIAL YEAR 2013 Q3 ” Download request cannot be submitted as statement has not been processed for selected Financial Year, Quarter and Form type” But, my return is accepted by TIN.

    • Mahender M says:

      We also have a same problem and I have called TRACES Customer Care executive. They replied that there is a problem with set of batches which were processed on 15/1/2013. It will be rectified soon but they are not sure when it’ll be done. Till then we need to wait and keep checking.

  4. rahul says:

    what about the nil return case ? is the csi file required to download for validating the nil return?

  5. Vikrnat Bansal says:

    if assessee deposited tds late with panel interest suppose on last date i.e. 15th of month after quarter ending & assessee does not deposit other tax since TAN applied. Now challan detail given in form 26Q but while downloading CSI file message show “No Record found” because deposited tax detail updated appr. after 2-3 days on NSDL site, now there is no CIS File & in FVU 3.6 i cannot validate taxt file… now wt can we do ???????

  6. derrick fernandes says:

    i HAVE A ETDS SOFTWARRE
    WHENEVER A NEW FVU FILE IS INTRODUCED I REQUEST THE SOFTWARE OWNERS TO MERGE THE THE NEW FVU INTO THE SOFTWARE. PLEASE INSTRUCT ME HOW TO MERGE THE NEW FVU FILE IN TO THE SOFTWARE WHICH I HAVE
    THANK YOU
    DERRICK FERNANDES

  7. Manish says:

    what about the nil return case ? is the csi file required to download for validating the nil return?

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