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e-TDS Return Filing & Penalties w.e.f. 01.07.2013

The Income Tax (TDS Department) has been made many changes in e-TDS Return Filing which is applicable from 01.07.2013.  New FVU 3.8 (Ver) for submission of TDS Quarterly Statement has been launched by TIN-NSDL for Asstt. Year 2014-15. This RPU and FVU is applicable w.e.f. 01.07.2013 with lot of amendments.

The changes regarding e-TDS Return w.e.f. 01.07.2013 are as follows:
  • Late fee is to be provided in challan details applicable from FY 2012-13 onwards.
  • No return filing or revision of return allowed for the the Fy 2006-07 or prior years.
  • Minor head code is to be provided in challan details.
  • No details to be provided for cheque no. and section code in the challan details. Section code to be provided in deductee/collectee details
  • Now Section code is required to be filled in each deductee detail instead of in challan details.It means multiple section can be selected in one single challan.
  • No cheque details is required to be filled in challan details. In most of the cases, payment is made through online payment mode.
Penalty Required w.e.f. 01.07.2013
  • Late Fee or Penalty is Rs. 200/- per day compulsory.
FVU Ver. 3.8 – Applicable from Fin. Year 2010-11 onwards
FVU Ver 2.134 – Applicable from Fin. Year 2007-08 to Fin. Year 2009-10