Tuesday, 21 April 2015

e-TDS/TCS RPU (Version 4.3) launched with advanced features.

e-TDS/TCS RPU (Version 4.3) for Statements from FY 2007-08 onwards released (20/04/2015)
Key FeaturesReturn Preparation Utility (RPU) version 4.3
  • Quoting of PAN of responsible person for deducting/ collecting tax.
  • Quoting of AIN mandatory only if the TDS/TCS has been deposited by book entry i.e., through transfer voucher.
  • Quoting of BIN mandatory only for the statements pertaining to FY 2013-14
  • Update of tax deposit amount in deductee details enabled for the deductee records where tax has been deducted at higher rate.

  • Reduction in the applicable list of “Nature of Remittances” (Applicable in case of Form no. 27Q).
  • Enhancement of deduction allowed under section 80CCE from Rs. 1,00,000/- to Rs. 1,50,000/-.
  • Incorporation of latest File Validation Utility (FVU) version 4.6 (applicable for TDS/TCS statements pertaining to FY 2010-11 onwards) and FVU version 2.142 (applicable for TDS/TCS statements upto FY 2009-10).
-

No comments:

Interest on Foreign Currency Loan & Corresponding Forex Loss for Strategic Share Acquisition Held Deductible as Revenue Expenditure

  The tax treatment of interest on funds borrowed to acquire shares hinges on a single, crucial distinction: the   purpose   behind the acqu...