New File Validation Utilities & Return Preparation Utility released by TIN

New File Validation Utilities – FVU 3.3 & 2.131 has  been released, which will be mandatorily applicable from February 01, 2012.

  • FVU 3.3 will be applicable for quarterly TDS / TCS statements pertaining to FY 2010-11 onwards and will be mandatory with effect from February 01, 2012.
  • FVU 2.131 will be applicable for quarterly TDS / TCS statements (regular and correction) pertaining up to FY 2009-10 and will be mandatory with effect from February 01, 2012.
Further, the NSDL Return Preparation Utility (RPU) version 2.7 has been released with the FVU version 3.3 and FVU version 2.131 incorporated in it.



Reporting of TDS transactions

      No Comments on Reporting of TDS transactions

Guidelines for reporting TDS transactions where amount paid to deductee has not exceeded the threshold limit in the first quarter but in subsequent quarters has exceeded threshold limit (as issued by the Directorate of Income Tax  Systems)

  • Flag  should be selected in the field of Reason for non deduction / lower deduction / higher deduction / threshold  to highlight transactions where TDS is not deducted as the threshold for deducting tax has not exceeded.
  • If threshold flag is provided then rate of deduction should be 0.0000 and tax deducted / deposited (deductee) amount should be 0.00.
  • Threshold flag can be quoted only against the following section codes in corresponding challan details: 193, 194, 194A, 194B, 194BB, 194C, 194D, 194EE, 194G, 194H, 194I, 194J, 194LA.

Know whether your Deductor / Collector filed the quarterly TDS / TCS statement & provided your PAN

We are always worried about the fact that whether our TDS deductor / collector has filed quarterly TDS/TCS statement and provided our PAN while filing the TDS/TCS return. NSDL has recently launched a facility to enable deductee to know whether or not his TDS deductor/collector has filed quarterly TDS/TCS statement and provided his PAN while filing the TDS/TCS return. To use and view the facility click on the link given below:



Details of 15G-15H to be provided in eTDS statement

Earlier there was requirement to submit details of all payments / credits where no deduction was made in view of certificate of no deduction issued by the income-tax officer. Now details of payments / credit where no deduction was made in view of submission of self declaration under section 197A for no deduction of tax are under the following sections :

  • Section 193 interest on securities ;
  • Section 194A  interest other than interest on securities;
  • Section 194EE  Payment of NSS deposit;
  • Section 194 Dividend;

Self declaration is given by senior citizens in Form 15H and in Form 15G by others.

The existing data structure for submission of eTDS statement already lists above requirement in Annexure 6 Code B : In case of no deduction on account of declaration under section 197A. Allowed only for section 194, 194A, 194EE and 193.

Hence, the provision to submit such details was existing even at present. The amended rule has now made it mandatory to provide such details. It is due to NOTIFICATION NO. 57/2011 [F.NO. 142/23/2011-SO(TPL)]/S.O. 2429 (E), DATED 24-10-2011. Relevant abstract of the notification is given below.

(b) in sub-rule (4), after clause (vi), the following clause shall be inserted, namely;
“(vii) furnish particulars of amount paid or credited on which tax was not deducted in view of the furnishing of declaration under sub-section (1) or sub-section (1A) or sub-section (IC) of section 197A by the payee.”