TRACES RELEASES NEW TDS RETURN PREPARATION UTILITY (RPU) VERSION 3.6

Traces releases new TDS Return Preparation Utility (RPU) version 3.6

Features of the Utility are as follows:

1) Addition of new column for Form 24Q-Q4:-

• New column “Whether opting for taxation u/s 115BAC [Yes/No]” is added under Annexure II (Salary details) for Form 24Q-Q4.
• If user selects ‘Yes’, below mentioned deductions will not be allowed under Annexure II

– Deductions under section 16
– Deductions under Chapter VI-A (except for dedeuction under 80CCD(2))
– Travel concession or assistance [section 10(5)]
– House Rent Allowance [Section 10(13A)]

• Values in newly added field will be allowed only when financial year of statement is 2020-21 and Quarter 4 onwards is selected. For rest all prior FYs and quarters, this field is not applicable.
• Same will be applicable for regular as well as correction statements.

2) Addition of validation in form 27Q:-

• If “Dividend” is present in field Nature of Remittances then Fields in the form 27Q i.e. ‘Email ID of deductee’, ‘Contact Number of the deductee’, ‘Address of deductee in country of residence’ & ‘Tax identification number / Unique identification number’ are mandatory only in case of below conditions are satisfied:

– If rate of deduction is less than 20%
– Remark value as ‘C’
– PAN of the deductee is not available (i.e. ‘PANNOTAVBL’, ‘PANAPPLIED’ or ‘PANINVALID’)
– Value under field no. 36 (i.e. Nature of remittances) is Interest payment, Royalty, Fees for technical services/ fees for included services, short term capital gains or Long term capital gains and Dividend

• Same will be applicable for regular as well as correction (C3 correction) statements pertaining to F.Y. 2020-21 Q3 onwards.

Incorporation of latest File Validation Utility (FVU) version 7.1 (applicable for TDS/TCS statements pertaining to FY 2010-11 onwards) and FVU version 2.167 (applicable for TDS/TCS statements from FY 2007-08 up to FY 2009-10).

This version of RPU is applicable with effect from April 2, 2021.