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FVU 3.71 : Key Changes Effective May 2013

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File validation utility 3.71 has been released on May 7,2013

Effective Date

  • FVU 3.71 will be mandatory w.e.f  May 26,2013
  • This means on or before May 25, 2013, statements can be filed with either FVU version 3.6 or FVU version 3.71
  • Effective May 26,2013 version 3.71 can only  be used for all statements pertaining to FY 2010-11 onward.

 Changes:

 Form 24Q : TDS on salaries

  • 80CCG : Investment in Rajiv Gandhi Equity Savings Scheme. This has been incorporated in Form 24Q , Q4 statement. This is effective FY 2012-13 onward.
  • 80CCF : Investment in approved infrastructure bonds. Quoting deduction under section 80CCF has been restricted to FY 2010-11 and 2011-12, as deduction under this section is not available from FY 2012-13 onward.

Form 27EQ : Tax Collection at Source

  • 206CK : Collection at source on cash case of Bullion and Jewellery
  • Such transactions are to be shown in Form 27EQ
  • PAN compliance validation of 85% pertaining to deductees of section code 206CK has been relaxed.

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