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Key feature of FVU version 4.4

1. Lower/ Non-deduction Certificate number issued by Assessing Officer (in deductee
details): Length of field “Certificate number issued by the Assessing Officer u/s 197 for non-deduction/lower deduction” under deductee details (i.e. in Annexure I) has been restricted to 10 digits. Certificate number to be quoted only in case of lower
deduction/no deduction. This validation is applicable to regular and correction (C3 & C9) statements pertaining to FY 2013-14 and onwards

2. Amount paid/ credited (in deductee details): Value in field “Amount paid/ Credited” to the deductee in case of Form no. 24Q should be less than or equal to 999999999.00. This validation is applicable to regular and correction (C3 & C9) statements pertaining to all FYs.

3. Total Taxable income (in salary details – Annexure II): Value in field “Total Taxable Income” to the deductee in case of Form no. 24Q-Q4 should be less than or equal to 999999999.00. This validation is applicable to regular and C4 correction statements pertaining to all FYs.

4. Deductee reference number and Employee serial number (in deductee details): It is mandatory to quote in the field “Deductee reference no.” (In case of Form no. 26Q) and “Employee serial no.” (In case of Form no. 24Q), where PAN of the deductee is invalid. This validation is applicable to regular and correction (C3 & C9) statements pertaining to all FYs.

5. Total tax deducted amount (in deductee details): In case of Form no. 24Q, value quoted in field “Total Tax deducted amount” should be less than or equal to value quoted in field “Amount paid/ credited” under deductee details. This validation is applicable to regular and correction (C3 & C9) statements pertaining to all FYs.

6. Accounts Office Identification Number (AIN): It is mandatory to quote the AIN in case of Form no. 24Q and 26Q for deductor category “Central Government” & “State Government”. This validation is applicable to regular and correction (C1 & C2, C3 (if deductor details are updated)) statements pertaining to FY 2013-14 onwards.

7. Collection code “J” (Sale of certain Minerals) and “K” (Cash case of Bullion and Jewellary): Collection code “J” and “K” is applicable only for TCS (Form no. 27EQ) regular and C9 correction statements pertaining to Q2 of FY 2012-13 onwards.

8. Remarks for higher deduction (in deductee details): Remarks for higher deduction in deductee details i.e., flag “C” to be mentioned only if the deductee PAN is structurally invalid. This validation is applicable to regular statement and correction (C3 & C9) statements pertaining to FY 2010-11 onwards:

9. Country name (in deductee details): In case of Form no. 27Q, the country name “MEXICO” has been updated to “UNITED MEXICAN STATES”. This change is applicable to regular and correction (C3 & C9) statements pertaining to FY 2013-14 onwards.

10. Applicability of FVU version:From September 23, 2014, FVU version 4.4 would be mandatory for statements pertain to FY 2010-11 onwards.

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Finance Minister to launch enhanced single window website for taxpayers

Finance Minister Arun Jaitley will launch an updated version of the existing website of Income Tax Department today to enable taxpayers to file easily their IT returns or apply for a PAN card.

The updated version of the existing website of the Income Tax department– www.incometaxindia.gov.in– will now be acting as a single window for all activities and online services offered by the IT department.

The website will be more user-friendly and robust, so that it can handle many hits at a time.

The website will also allow taxpayers to know about the IT Act, various notices and circulars being issued from time to time and regular developments in the department.

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TDS/TCS Compliances for October 2014

1. Last date for payment of tax deductions/collections for September – 7th October 2014
2. Last date for filing of TDS/TCS returns for Q2 of F.Y. 2014-15 – 15th October, 2014
3. Last date for issuance of the TDS/TCS certificates for Q2 of F.Y. 2014-15 – 30th October, 2014
* The above is applicable for deductors other than the office of the Government.

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CPC (TDS) follow up communication to deductors: Nil TDS Deposited during Financial Year 2014

CPC (TDS) has issued a follow up communication to all deductors regarding nil TDS deposited during FY 2014. It may be possible that either the tax may not have been deducted at source or the tax deducted may not have been deposited, within stipulated time. In such case, this may lead to Short / Late Deduction and / or Short / Late Payment Defaults. CPC (TDS) has reminded deductors about the duty of the person deducting tax and suggested them the actions that needs to be taken in case of this kind of situation.

The issued communication has been given below:

Dear Deductor (TAN: ),

As per the records of the Centralized Processing Cell (TDS), it has been observed that there is “No Tax Deposited” during the period April 1 to August 31, 2014 while tax has been deposited in the corresponding period in Financial Year 2013.

It may be possible that either the Tax may not have been deducted at source or the Tax deducted may not have been deposited, within stipulated time. In such case, this may lead to Short / Late Deduction and / or Short / Late Payment Defaults.

Please make note of the following important information :

 • Please note the provisions of section 200(1) of the Income Tax Act, 1961; in this regard:

Duty of Person deducting Tax:

  • Any person deducting any sum in accordance with [the foregoing provisions of this Chapter] shall pay within the prescribed time, the sum so deducted to the credit of the Central Government or as the Board directs.
  • Any person being an employer, referred to in sub-section (1A) of section 192 shall pay, within the prescribed time, the tax to the    credit of the Central Government or as the Board directs.
  • Any person deducting any sum on or after the 1st day of April, 2005 in accordance with the foregoing provisions of this Chapter or, as the case may be, any person being an employer referred to in sub-section (1A) of section 192 shall, after paying the tax deducted to the credit of the Central Government within the prescribed time,[prepare such statements for such period as may be prescribed] and deliver or cause to be delivered to the prescribed income-tax authority or the person authorized by such authority such statement in such form and verified in such manner and setting forth such particulars and within such time as may be prescribed.

 • If the tax is not paid in accordance with the provisions of the Act, it may attract penal Interest u/s 201(1A) and 220(2) of the Act.

 • Any such interest paid above will not be considered as deductible expense under the provision of section 43(ia) of the Act.

Actions to be taken:

 • If any amount needs to be deducted and/ or deposited, immediate action may be taken at the earliest.

 • Please inform us with the reason for “No Tax Deposited” at info@tdscpc.gov.in.

For any assistance, call our toll-free number 1800 103 0344.

CPC (TDS) is committed to provide best possible services to you.

CPC (TDS) TEAM

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