TCS Return – Last Date 15th October

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15th October is the last date for filing  TCS Returns for FY:17-18, Quarter 2.

Typically TCS is applicable on sale of items like scrap, forest products, minerals, bullion, etc. and is covered under section 206C of the Income Tax Act.

Last date for issuing of TCS certificate 30th  October.

Last date for TDS Returns is 31st October.

TDSMAN updated with FVU ver. 5.6 & FVU ver. 2.152

TDSMAN has been updated for the following newly released File Validation Utilities:

FVU ver. 5.6 – For statement pertaining to FY 2010-11 onwards
FVU ver. 2.152 – For statement up to FY 2009-10

Please click on “Update Software” in “Utilities” menu to update software and FVU ver. 5.6 & FVU ver. 2.152 utilities.

Click here to view the key features of FVU ver. 5.6
Click here to view the key features of FVU ver. 2.152

FVU 5.6 & FVU 2.152 released by NSDL

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The Income Tax Department has released today (7th October, 2017), the following new File Validation Utilities:

  • FVU version 5.6 – For statement pertaining to FY 2010-11 onwards
  • FVU version 2.152 – For statement up to FY 2009-10

Click here to view the key features of FVU version 5.6
Click here to view the key features of FVU version 2.152

TDSMAN will incorporate new FVU versions and will be released within 9th October, 2017.

Key Features – File Validation Utility (FVU) version 5.6

  • Change in validations for all section codes available for Form 27EQ
  1. Remark “C” (i.e. for higher rate deduction) is made applicable for all sections available for Form 27EQ.
  2.  “C” remark is only allowed when the values ‘PANAPPLIED’, ‘PANINVALID’ or ‘PANNOTAVBL’ are present in the field ‘PAN of Deductee’.
  3. In such case, total TCS amount has to be 5% or more of the field “Amount of receipt / debited”.
  4. The above referred validations are applicable for Regular and Correction statements pertaining to FY 2017-18 onwards.
  • Addition of new field i.e. “Goods and Service Tax Number (GSTN)” under Batch Header (BH) of TDS/TCS statement
  1. GSTN no. should be 15 digit alpha-numeric value.
  2. In case the number is less than 15 digits FVU will populate an error message “Invalid value. Please provide valid 15 digit GSTN”
  3. Applicable for regular and correction (C1, C2, C3, C4 and C5) statement pertains to all forms and FYs.
  • State code of employer made mandatory in all correction statements (i.e. all batches of correction statement)
  1. All the correction statements should have employer/deductors state code under batch header (BH) field no. 26.
  • Change in validation for section code “194J – Fees for Professional or Technical Services” for Form 26Q:
  1. Remark ‘B’ is made applicable under this section which represents either no deduction or lower deduction.
  2. The same is applicable for regular and C3 type of correction Statement pertaining to FY 2017-18 onwards.

This version of FVU is applicable with effect from October 07, 2017.