FVU 4.0 and FVU 2.136 released by NSDL
The Income Tax Department has released the following new File Validation Utilities on 26 September, 2013 which would be mandatory from October 01, 2013: FVU version 4.0 – For Statements… Read more »
Key features of FVU version 4.0
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… Read more »
Key features of FVU version 2.136
Nil challans/transfer vouchers with deductee record: Validation as below is applicable: Nil challans/transfer vouchers need to mandatorily have deductee records. In deductee records, flag in the remarks for lower or non-deduction… Read more »
Filing or Non-Filing of Income Tax Return u/s. 139(1) and u/s. 139(1C)
Specified class or classes of persons to be exempted from filing Return of Income [Section 139(1C)]. (1) Under section 139(1), every person has to furnish a return of his income… Read more »
Mandatory requirement of furnishing PAN in all TDS statements u/s. 206AA
The non-quoting of PAN by deductees in many cases have led to delay in issue of refund on account of problems in the processing of returns of income and in… Read more »
TDS payment on property and how to obtain form 16B and 26QB
From June 2013, purchaser of property with value of Rs 50 lakh and above should deduct 1% TDS at the time of making payment. Here is the guide about making… Read more »