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FVU version for uploading TDS has been changed from 4.9 to 5.0

The FVU version for uploading TDS has been changed from 4.9 to 5.0. Therefore, you are advised to update your TDS software and generate FVU file with 5.0 version to avoid the inconvenience.

The Key Features of the FVUs are as under:

A. Remark ‘B’ is made applicable for Section code 192A (Payment of accumulated balance due to an employee) for Form 26Q.

i. The above is applicable for regular as well as correction statements.

ii. The section code is denoted as‘2AA’ in the .txt file.

B. New Section code 194IA (Payment on transfer of certain immovable property other than agricultural land. i.e. TDS on sale of property) has been added under list of sections available for Form 26Q.

i. The above is applicable only for regular and correction statements(C3) of Form 26Q pertaining to FY 2013-14 onwards.

ii. The section code for the same to be populated under .txt file is“9IA”.

C. Mandatory to mention Email ID and mobile number of responsible person in TDS/TCS Statement.

i. One of e-mail IDs ofDeductor/Collector or Responsible person is required to be provided in the statement.

ii. The value in the field ‘Mobile Number of responsible person’ is mandatory.

D. Only blank values, special characters, dots or spaces (i.e. `~! @#$ %^&*() _+,. /? ;:’”[{]}\|) are not allowed for below fields of Batch Header in the FVU file.

i. The values as referred above arenot allowed in the fields referred in the table below, in case, Deductor/Collector enters such values in the file prepared by them, FVU will generate relevant error message.

ii. Deductor/Collector should mention the correct values in the below fields as per the specified file format:

                           Field Name                                                                                Field No.    

                      Name of Deductor                                                                                19

                      Deductor’s Branch/ Division                                                                   20

                      Name of Person responsible for Deduction                                              33

                      Designation of the Person responsible for Deduction                                34

iii. Similarly, only special characters are not allowed in the address fields of Deductor/Collector and Responsible person.

E. Incorporation of TAN and TAN name in the Challan Status Inquiry (i.e. .CSI) file and verification with the TDS/TCS statement during the time of validation through the FVU.

i. TAN: In case, the TAN of the Deductor/Collector as per CSI file does not match with the TAN as per the TDS/TCS statement, FVU will reject the TDS/TCS file and appropriate error message “TAN of deductor in statement does not match the TAN in CSI file” will be displayed to the user at the time of validating the file through FVU.

ii. TAN Name: In case, the TAN Name (i.e. Name of Deductor/Collector) as per CSI file does not match with the name as per the TDS/TCS statement, FVU will generate a popup message“Name of Deductor in the statement should exactly match the Name of deductor as per TAN Master Database of Income Tax Department”.

F. Change of State name from “ORISSA” to “ODISHA”.

i. Change of State name from “ORISSA” to “ODISHA” has been incorporated in the versions of FVU.

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eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

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