Posts Tagged ‘Correction Statement’
FVU Version 3.3 : Effective Feb 1, 2012
NSDL has released File Validation Utility Version 3.3. The new features of the same are being described in this blog.
What is effective date of FVU 3.3
- FVU 3.3 is effective from Feb 1, 2012
- For Quarter III eTDS filing, both FVU version 3.3 and FVU Version 3.2 can be used.
- Fast Facts recommends filing of Q3 eTDS Statements with FVU Version 3.2 only
Encryption of files
- Files validated with FVU will be encrypted .
- Both regular and correction files will be encrypted.
Regular Statement : Penal Rate Deductee Records
- If deductee record flag contains “C” to indicate penal rate and rate of deduction of less than 20%, a warning will be generated by FVU 3.3 which will contain details of such inconsistent deductee records.
- Change applicable for FY 2010-11 onwards.
Regular Statements : Govt Deductors to quote BIN
- Book Identification Number ( BIN) is applicable only in respect of Government deductors
- BIN can be obtained from
- the respective Pay and Account Office (PAO) / District Treasure Office (DTO)
- TIN Web site by logging into TAN Account
- BIN Consists of
- Seven digit 24G receipt number (provided on successful acceptance of Form 24G statement at TIN central system)
- Five digit DDO serial no. (provided for each DDO transaction in Form 24G statement)
- Date of deposit of Tax
- Government deductors will have to mention the BIN in regular eTDS statements
- Change applicable for FY 2010-11 onwards.
Correction Statements : Deductee records with Flag “C”
- Deductee records with flag “C” indicate deduction at penal rate of 20% in case of deductees not having valid PAN.
- Several deductors filed regular eTDS Statement containing valid PANs and Flag “C”. FVU 3.2 does not allow editing of deductee records with flag “C”
- FVU 3.3 will now allow editing of such records for all fields except the flag “C”
- Change applicable for FY 2010-11 onwards.
Correction Statement : Import of Consolidated FVU
- In order to avoid rejection of correction statement, FVU 3.3 will require consolidated FVU file to be imported before validating correction statement
- Correction statement will also contain Hash Value as per consolidated FVU file – which is used for preparation of correction statement.
- Change applicable for all financial years
FVU 2.131 for FY upto 2009-10
- For validating regular / correction statements pertaining to period upto FY 2009-10 , FVU 2.131 has to be used
- This will be effective Feb 1, 2012
- Correction statements will require import of consolidated fvu file and a hash value will be inserted in output files
- All files validated will be encrypted.
Revised Guidelines for filing eTDS Correction Statement
eTDS Correction statements are to be filed to rectify any error / omission in the original statement. The need to file eTDS correction also arises because of 85%/ 95% valid PAN requirement for filing eTDS statement.
Recently NSDL has released revised guidelines for filing of correction statement. These guidelines can be viewed by typing the link http://www.tin-nsdl.com/RevisedReturns.asp
Why file eTDS Correction ?
- In case of deficiencies in the accepted regular TDS/TCS statement such as incorrect challan details or PAN not provided or provided incorrectly, the tax credit will not reflect in the Form 26AS of the deductees in your statement.
- “To facilitate correct credit in Form 26AS of the deductees you are required to remove deficiencies, if any, in the accepted regular TDS/TCS statement by filing a correction statement.”
What cannot be corrected ?
- TAN, Form no., quarter, FY and A.Y quoted in a regular statement cannot be updated by furnishing a correction statement.
- For this file a cancellation statement , followed by a new regular statement.
Before you file Correction Statement
- Provisional receipt of the corresponding accepted regular statement should be available.
- .fvu file of the corresponding accepted regular statement should be available
- Check the status of the regular statement on the TIN website by entering the TAN and PRN. correction statement should be prepared only if the corresponding regular statement has been accepted at the TIN central system.
Correction in Challan Record
- You can add a new Challan
- Deletion of a Challan is NOT ALLOWED
- Update of a challan is based on the Status of Challan Online
| Status of Challan | Correction |
| Booked | Correction cannot be done |
| Match Pending | Correction in CIN can be done |
| Match Failed | Correction in Challan Amount can be done |
Correction in Deductee Records
- You can add new deductee, update details of a deductee and delete a deductee
- Updation of a valid PAN to another valid PAN can be done only once
Correction in Salary Record
- You can add a salary record and delete a salary record
Online TAN Registration
NSDL has started facility of online TAN registration.
The benefit of online TAN registration is availability of
- view of the status of all statements filed;
- download of consolidated quarterly e-TDS / TCS statement for preparation of correction statement
The online simple registration process will ask for
- TAN , PAN of deductor
- Contact details of deductor
- Acknowledgement No of any eTDS Statement filed after 01-04-2008
On submission Ackonwledgement Number will be generated
