Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty.

E-TDS/TCS FVU VERSION 4.1 AND 2.137

Release of File Validation Utility (FVU) version 4.1 for e-TDS/TCS Statements pertaining to FY 2010-11 onwards and version 2.137 for statements up to FY 2009-10
  
Now the  FVU version 4.0 has been replaced with the new FVU version 4.1 for the statements pertaining to FY 2010-11 onwards and FVU 2.137 has replaced the older FVU 2.136 for statements up to 2009-10 and the both are available at TIN website for download. Statements with FVU version 4.0 and 2.136 will not be accepted  from 04/01/2014. So use only the latest FVU while preparing TDS Returns.

For quarterly e-TDS/TCS statement up to FY 2009-10 e-TDS/TCS FVU.exe (Version 2.137) will be used.


Key features of FVU 2.137 is as follows:
·         Deletion of deductee record: Feature to delete the deductee record has been discontinued. In case the user wishes to nullify a deductee record/ transaction, he is required to update the amount and related fields to “0” (zero) and add new record with updated values.
·         Date of deduction: Date of deduction in deductee record should not be that of previous quarter. Example if the statement pertains to Q2 of FY 2009-10, then the date of deduction should not be lower than 01/10/2009.
·         Generation of Form 27A: New feature has been enabled wherein Form 27A is generated on validation of statement by TDS/TCS FVU.
      Applicability of FVU version: FVU version 2.136 and 2.137 are applicable upto January 03, 2014 and from January 04, 2014 it would be mandatory to validate the TDS/TCS statements using FVU version 2.137.

For quarterly e-TDS/TCS statements pertaining to FY 2010-11 onwards e-TDS/TCS FVU.exe (Version 4.1) will be used.


Key feature of FVU version 4.1

·         Deletion of deductee record: Feature to delete the deductee record has been discontinued. In case the user wishes to nullify a deductee record/ transaction, he is required to update the amount and related fields to “0” (zero) and add new record with updated values.
·         Date of deduction: Date of deduction in deductee record should not be that of previous quarter. Example if the statement pertains to Q3 of FY 2013-14, then the date of deduction should not be lower than 01/10/2013.
·         Generation of Form 27A: New feature has been enabled wherein Form 27A is generated on validation of statement by TDS/TCS FVU.

·         Applicability of FVU version: FVU version 4.0 and 4.1 are applicable upto January 03, 2014 and from January 04, 2014 FVU version 4.1 would be mandatory.

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