Key Features – File Validation Utility (FVU) version 5.4

  • Validation for “PAN of Landlord” field has been revised for form 24Q-Q4 under Annexure II (i.e. Salary details) from F.Y. 2016-17 onwards.

Existing Validation of structurally valid PAN (for field no. 41, 43, 45 and 47 as per data structure) has been relaxed. These fields may contain any value from the below mentioned when the landlord does not have PAN.
1. GOVERNMENT : This is applicable when landlords are Government organizations (i.e. Central or State).
2. NONRESDENT : This is applicable when the landlords are Non-Residents.
3. OTHERVALUE : This is applicable when the landlords are other than Government organization and Non-Residents.

  • Validation for non-update of Deductee/Collectee records from Annexure I and Annexure ll in TDS/TCS correction statements when Form 26A/27BA has been generated.
  • Deductee/Collectee against which Form 26A/27BA has been generated at Income Tax Department where update will not be allowed on certain fields in Annexure I of Form 24Q, 26Q and 27EQ while submitting correction statement.
    The certain fields are as below:-
    (1) PAN of Deductee/Collectee
    (2) Amount of Payment/Credit
    (3) Total tax Deducted (Tax + Surcharge + Education cess)
    (4) Section code
  • Deductee against which Form 26A/27BA has been generated at Income Tax Department where no update or deletion of record will be allowed in Annexure ll of Form 24Q while submitting correction statement.
  • Such Deuctee/Collectee records will be present in the TDS/TCS consolidated file with a flag value ‘F’ against the field ‘Mode’ as per specified file format.
  • This is applicable from Financial Year 2007-08 onwards.
  • e-TDS/TCS correction statements received with the changes not desired as per above, will be rejected at TDS CPC of Income Tax Department.
  • Incorporation of latest File Validation Utility (FVU) version 5.4 (applicable for TDS/TCS statements pertaining to FY 2010-11 onwards) and FVU version 2.150 (applicable for TDS/TCS statements from FY 2007-08 up to FY 2009-10).
  • This version of FVU is applicable with effect from February 23, 2017.

Extension of due date for submission of Form 15G/15H

Deductee gives Form 15G/15H to deductors for non-deduction of TDS, since deductee’s total income is below taxable limit.

Deductors are required to upload these forms received from deductees on the Income Tax Department website.

The department has extended the due dates for submission of these forms as follows:

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Web Base Timesheet Application

Dear Clients,
 
Job and Time Management System is a simple online software for All Professionals, More than 195+ professionals use Web Base Timesheet Application to track time spend on various jobs by various resources on various clients. 
 
You can try Job and Time Management System for a 30 days Free Trial. click FREE TRAIL.
 
JTMS has every feature you will ever need to run your FIRMS efficiently.
  • Job Management (Unlimited)
  • Client Management (Unlimited)
  • Staff Management (Unlimited)
  • Expense Management
  • Timesheet Input
  • Multi – Approval System
  • Timesheet – Saved / Submitted / Approved / Rejected Status
  • Timesheet Locking
  • Comprehensive Report System
  • Export To Excel
  • Implementation In 30 Minutes
Partial client list for timesheet application:
  • Suresh Surana & Associates Chartered Accountants
  • H S Consulting Chartered Accountants
  • Khandwala & Khandwala Chartered Accountants
  • Nitin Gada & Co. Chartered Accountants
  • Chaturvedi & Shah Chartered Accountants
  • GSC Intime Services Pvt. Ltd. (CA Jayesh Gogri) Chartered Accountants
  • Ratan Batliboi Architects
  • Anil Salian Architects
  • SAMVAD: PARTNERS Advocates & Solicitors
  • Dhaval Vussonji & Associates Advocates & Solicitors
  • Semac Consultants Pvt. Ltd. Engineering Consultancy Firm
  • Schuler India Pvt Ltd. Engineering Firm
  • InterGlobe Aviation Pvt Ltd “Indigo” Airline
  • Crystal Industrial Syndicate Pvt. Ltd. Engineering Firm
  • Midrex Technologies India Private Limited IT Firm
  • Paradigm Services Pvt. Ltd. Consulting
  • Pathfinder International (NGO)
 
 
I’m also happy to answer any questions you have about getting started. You can reply to this email or alternatively reach me on +91 9892606006.
 
 
Regards,
 
Prashant Fegde | Operations – Manager | Saibex Network |
C3, Satyandra Bhavan, New Nagardas Road, Andheri (East), Mumbai – 400069 | Maharashtra | India |
T +91 9892606006 | +91 22 28258159 / 28261255 |
prashant@saibex.co.in | www.saibex.co.in |