TDS Utility changes effective from 1st of Oct 2021

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File Validation Utility (FVU) version 7.2 (for quarterly e-TDS/TCS statement from FY 2010-11 onwards)

  1. Addition of new Section code 194P for Form 24Q – 194P: Deduction of tax in case of specified senior citizens- This section will be applicable for regular and correction statements pertaining to FY 2021-22 onwards
  2. Addition of new Section code 196D(1A) for Form 27Q- 196D(1A): Income of specified fund from securities referred to in clause (a) of sub-section (1) of section 115AD (other than interest income referred to in section 194LD). This section will be applicable for regular and correction statements pertaining to FY 2020-21 Q3 onwards where date of payment is on or after 01/11/2020.
  3. Addition of new Section code 194Q Form 26Q- 194Q: Payment of certain sums for purchase of goods -This section will be applicable for regular and correction statements pertaining to FY 2021-22 Q2 onwards.
  4. Addition of new remark values for Form 27Q-
    A. Remark I: In case of no deduction is in view of sub-section (2) of section 196D in respect of income of the nature of capital gains on transfer of securities referred to in section 115AD paid or payable to a Foreign Institutional Investor . This remark will be applicable for section codes 196D & 196D(1A) only.
    B. Remark H: If no deduction is in view of proviso to sub-section (1A) of section 196D in respect of an income paid to a specified fund which is exempt under clause (4D) of section 10. This remark will be applicable only for section 196D(1A)
    C. Remark J: If deduction is at higher rate in view of section 206AB for non-filing of return of income by the non-resident having a permanent establishment in India.This remark will be applicable to all section codes except 192A, 194LBC, 194N and 194NF
  5. Addition of new remark values for Form 26Q

A. Remark P: In case of No deduction is on account of payment of dividend made to a business trust referred to in clause (d) of second proviso to section 194 or in view of any notification issued under clause (e) of the second proviso to section 194. This remark will be applicable only for section 194

B. Remark Q: In case of No deduction in view of payment made to an entity referred to in clause (x) of sub-section (3) of section 194A. This remark will be applicable only for section 194A

C.Remark U: If the deduction is on higher rate in view of section 206AB for non-filing of return of income. This remark will be applicable to all section codes except 192A, 194B, 194BB, 194LBC, 194N and 194NF

  1. Addition of remark value in Form 27EQ- Remark I: If collection is at a higher rate in view of section 206CCA. This remark will be applicable to all applicable to all collection codes. These changes will be applicable for regular and correction statements pertaining to FY 2021-22 Q2 onwards
  2. Change in validation related to section code 196D in Form 27Q-Existing remark value “C” will be applicable for this section with their existing validations in case of non-availability of PAN. Newly added remark “I” and existing remark “G” will also be applicable to this section code for no deduction. Remark “I” will be applicable in case of nil challan return. These changes will be applicable for regular and correction statements pertaining to FY 2021-22 onwards
  3. Changes in validations of Section 194K of Form 26Q-Existing Remark “B” (In case of no deduction on account of declaration under section 197A) will also be applicable to section for this section. These changes will be applicable for regular and correction statements pertaining to FY 2021-22 onwards.

This version of FVU is applicable with effect from October 01, 2021 onwards.

 
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