Key Features – File Validation Utility (FVU) version 6.9 & 2.165

File Validation Utility (FVU) version 6.9

Section codes 194LBA(a) and 194LBA(b) for Form 26Q

This section will be applicable for regular and correction statements pertaining to FY 2020-21 onwards.

• Addition of Section code 194NF for Form 26Q and 27Q

194NF – Payment of certain amounts in cash to non-filers

This section will be applicable for regular and correction statements pertaining to FY 2020-21 for quarter 2 onwards.

• Section codes 194LBA(a), 194LBA(b) and 194LBA(c) for Form 27Q

194LBA (a) – Income referred to in section 10(23FC)(a) from units of a business trust
194LBA (b)– Income referred to in section 10(23FC)(b) from units of a business trust
194LBA (c) – Income referred to in section 10(23FC)(c) from units of a business trust

This section will be applicable for regular and correction statements pertaining to FY 2020-21 onwards.

• Addition of new columns for Form 26Q and 27Q

New columns “Amount of cash withdrawal which is in excess of Rs. 20 lakhs but does not exceed Rs.1 crore for cases covered by sub-clause (a) of clause (ii) of first provision to section 194N”

and

“Amount of cash withdrawal which is in access of Rs. 1 crore for cases covered by sub-clause (b) of clause (ii) of first provision to section 194N” will be added under Annexure I (Deductee details)

The above will be applicable for regular and correction statements pertaining to FY 2020-21 for quarter 2 onwards.

• Addition of new remark value ‘D’ for section code 194A of Form 26Q

D – “No deduction or lower deduction is on account of payment made to a person or class of person on account of notification issued under sub-section (5) of section of 194A”

The above will be applicable for regular and correction statements pertaining to FY 2020-21 onwards.

• Addition of new remark value ‘E’ for all section codes of Form 26Q

E – “No deduction is on account of payment being made to a person referred to in Board Circular no. 3 of 2002 dated 28th June, 2002 or Board Circular no. 11 of 2002 dated 22nd November, 2002 or Board Circular no. 18 of 2017 dated 28th May, 2017”

The above will be applicable for regular and correction statements pertaining to FY 2020-21 onwards.

• Addition of new remark value ‘G’ for all section codes of Form 27Q

G – “No deduction is in view of clause (a) or clause (b) of sub-section (1D) of section 197A”

The above will be applicable for regular and correction statements pertaining to FY 2020-21 onwards.

This version of FVU is applicable with effect from October 20, 2020.

File Validation Utility (FVU) version 2.165

This version of FVU is applicable with effect from October 20, 2020.

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