Key Features – File Validation Tool (FVU) version 7.2 – india-gst.in


A new file validation tool has been released by the NSDL to serve 26Q, 27Q and 27EQ files and the same is effective as of October 1, 2021. Here are the changes

a. Add new section code 194P to Form 24Q
194P: Tax deduction in the case of specified elderly people
This section will be applicable to regular and corrective statements relating to the 2021-202 fiscal year and beyond.

NS. Add new section code 196D (1A) for Form 27Q
196D (1A): Income for a specific fund of securities referred to in Clause (A) of Subsection (1) of Section 115AD (other than the interest income referred to in Section 194LD).
This section applies to regular and corrective statements relating to the fiscal year 2020-21 Q3 onwards where the payment date is on or after 01/11/2020.

C- Add a new section code 194Q Form 26Q
Q 194: Payment of certain amounts for the purchase of goods
This section applies to normal and corrective statements relating to the fiscal year 2021-22 Q2 onwards.

D- Adding new observation values ​​to Form 27Q

  1. First note: If there is no deduction in view of Clause (2) of Section 196d in relation to
    From the income of the nature of capital gains from the transfer of securities referred to in section
    JD 115 paid or payable to a foreign institutional investor
    This note applies to section 196D and 196D (1A) codes only.
  2. Note H: If there is no deduction given the condition in subsection (1a) of section 196d in
    In respect of income paid to a specified fund exempt under Clause (4d) of
    Section 10
    This note applies only to Section 196d (1a)
  3. Note J: If the discount is at a higher rate in view of Article 206 AB for no returns deposit
    Income of a non-resident who has a permanent establishment in India
    This note will apply to all department codes except for 192A, 194LBC, 194N and
    194NF

E- Adding new note values ​​to Form 26Q

  1. Note P: In the absence of a deduction made on the account of the payment of dividends to A
    The commercial trust referred to in Clause (d) of the second condition of Section 194 or in light of any
    Notice issued under Clause (e) of Condition Two of Section 194
    This note applies to Section 194 only
  2. Note Q: If there is no deduction in view of the payment made to the entity referred to in
    Clause (x) of subsection (3) of section 194a
    This note applies only to Section 194A
  3. Note U: If the discount is a higher rate in view of Section 206 AB for non-deposit
    income return
    This note will apply to all section codes except for 192A, 194B, 194BB, 194LBC,
    194 N and 194 N

And. Adding the observation value in Form 27EQ
First note: If the achievement is at a higher rate in light of Section 206CCA
This note will apply to all applicable assembly codes
These changes will be applicable to regular and corrective statements relating to the fiscal year 2021-22 Q2 onwards

g. Change in verification related to section 196D code on Form 27Q
The current note value “C” will be applicable in this section with their current checks if the PAN is not available.
The newly added note “I” and the current note “G” will also apply to this department code without discount.
Note “I” will be applicable if there is no return.
These changes will be applicable to regular and corrective statements relating to the 2021-202 fiscal year and beyond

Changes to Section 194K Validations of Form 26Q
Present Note B (in the event that there is no deduction on the advertising account under Section
197 a) also applies to the section on this section
These changes will be applicable to regular and corrective statements relating to the 2021-202 fiscal year and beyond.

This version of FVU is applicable from October 1, 2021 onwards.



Source link