|
Effective Date
·
FVU version 3.6 will be mandatory w.e.f October 16, 2012.
·
Upto October 15, 2012 FVU version 3.5 and FVU version 3.6
will be applicable.
·
This means for Q2 of FY 2012-13, both FVU 3.5 and FVU 3.6
will be accepted, if filed on or before October 15, 2012.
Challan File is now mandatory during
validation
·
Upto FVU version 3.5 , challan file ( with extension .csi )
was optional. With version 3.6 , this file will be mandatory while
validating eTDS file
·
The challan file can be downloaded from TIN web site under
the link Challan Status Enquiry
·
This file will be required only if TDS is deposited through
challans. Hence, Govt. deductors who do not use challan for depositing TDS
will not be required to provide challan file during validation
·
Challan file is required for validating regular statements.
For correction statements , it is required only when a new challan is added
or existing challan is updated
Changes in Form 24Q : TDS on Salaries
·
For Q4 Salary details are to be provided in Form 24Q.
·
The exemption limit for senior citizens above age 80 is
different from senior citizens above 60 years and Upto 80 years.
·
A separate flag is now to be given for such senior citizens
, appropriately termed as “Super Senior Citizens”
|
Description
|
Senior Citizen
|
Super Senior Citizen
|
|
Age
|
Above 60 but upto 79 years
|
80 years and above
|
|
NIL Rate for income upto
|
Rs. 2,50,000
|
Rs. 5,00,000
|
|
Category of Employee in Form
24Q
|
S
|
O
|
·
This categorization is applicable from FY 2011-12 onwards.
However, since the eTDS Statements for Q4 2011-12 have already been filed
upto May 31, 2012, this requirements may be applicable for those filing
delayed statement or filing correction statement
Changes in Form
26Q : TDS on other Payments
·
TDS not deducted on software purchases in terms of
Notification 21/2012 is now to be reported separately.
·
Above notification exempts a deductors from making deduction
of tax at source, if software (without any modifications) is acquired in a
subsequent transfer and tax has been deducted on previous transfer of
software. For more details please read
·
For this purpose flag
“S” is to be mentioned in the field “Reason for NIL/ Lower deduction” for
transactions pertaining to section 194J
·
This requirement is applicable from FY 2012-13 onwards only
Changes in Form 27Q : Payment to Non -
Residents
·
TDS not deducted on software purchases in terms of
Notification 21/2012 is now to be reported separately.
·
Above notification exempts deductors from making deduction
of tax at source, if software (without any modifications) is acquired in a
subsequent transfer and tax has been deducted on previous transfer of
software. For more details please read
·
For this purpose flag “S” is to be mentioned in the field
“Reason for NIL/ Lower deduction” for transactions pertaining to section
195
·
This requirement is applicable from FY 2012-13 onwards only
·
Two additional codes are introduced for the following
sections
|
Section code
|
Section code to be quoted in Quarterly Statement
|
Applicable from FY
|
Description
|
|
194LB
|
4LB
|
2011-12
|
Interest : infrastructure debt
fund
|
|
194LC
|
4LC
|
2012-13
|
Interest : foreign currency
loans etc.
|
Changes in Form 27EQ : Tax Collection at
Source
·
The following additional codes are prescribed
|
Section code
|
Section code to be quoted in Quarterly Statement
|
Applicable from FY
|
Description
|
|
206CJ
|
J
|
2012-13
|
Minerals
|
|
206CK
|
K
|
2012-13
|
Bullion and Jewellery
|
|
