FVU 3.71 : Key Changes Effective May 2013

File validation utility 3.71 has been released on May 7, 2013

Effective Date

  • FVU 3.71 will be mandatory w.e.f  May 26,2013
  • This means on or before May 25, 2013, statements can be filed with either FVU version 3.6 or FVU version 3.71
  • Effective May 26,2013 version 3.71 can only  be used for all statements pertaining to FY 2010-11 onward.

Changes:

Form 24Q : TDS on salaries

  • 80CCG : Investment in Rajiv Gandhi Equity Savings Scheme. This has been incorporated in Form 24Q , Q4 statement. This is effective FY 2012-13 onward.
  • 80CCF : Investment in approved infrastructure bonds. Quoting deduction under section 80CCF has been restricted to FY 2010-11 and 2011-12, as deduction under this section is not available from FY 2012-13 onward.

Form 27EQ : Tax Collection at Source

  • 206CK : Collection at source on cash case of Bullion and Jewellery
  • Such transactions are to be shown in Form 27EQ
  • PAN compliance validation of 85% pertaining to deductees of section code 206CK has been relaxed.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s