Key features of FVU version 4.0

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  • Change in validation of Section code 194LC:
    • Section code 194LC will be applicable only for deductor category (as per the statement) Company and Branch of Company.
    • This validation will apply for regular and correction statements.
  • Incorporation of new section code 194LD: This Section code will be applicable for:
    • Regular and correction statements pertaining to FY 2013-14 and onwards.
    • Statement pertaining to Form no. 27Q.
  • Nil challans/transfer vouchers with deductee record: Validation as below will be applicable:
    • Nil challans/transfer vouchers need to mandatorily have deductee records.
    • In deductee records, flag in the remarks for lower or non-deduction should be A, B, Y, S, T or Z (as applicable).
    • This validation will apply for regular and correction statements.
  • Last provisional receipt number to be quoted in regular TDS/TCS statements: Deductors are require to mandatorily quote the last accepted provisional receipt number of the regular quarterly TDS/TCS statement.
  • Date of deposit of Non-nil Challan: Validation for Date of deposit of non-nil challan has been relaxed. This date can pertain to immediate previous financial year of the statement.
  • FVU version 3.9 and 4.0 are applicable upto September 30, 2013. Further, FVU version 4.0 would be mandatory from October 01, 2013.

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