TDS New File Validation Utility Released for filing 26Q, 27Q & 27EQ for Q1 FY 23-24

The Income Tax Department has released TDS New File Validation Utility for filing 26Q, 27Q & 27EQ for Q1 FY 23-24.

Key Features – Return Preparation Utility (RPU) version 4.7

This version of RPU is applicable with effect from September 01, 2023 onwards.

For Form 24Q:

1. Changes in existing column name under Annexure II (column number (332B)) and Annexure III (column number (395)): Whether opting for taxation u/s 115BAC? OR Whether opting out from taxation u/s 115BAC (1A) [Yes/No]

2. Addition of new column (346A) under Annexure II: Other special allowances under section 10(14)

3. Impact of Addition of new column (346A) (point 2) on existing column 347 under Annexure II: Total amount of exemption claimed under section 10 (340+341+342+343+344+346A+346B)

4. Addition of new column (365A) under Annexure II: Deduction in respect of contribution by the employee to Agnipath Scheme under section 80CCH (Gross Amount)

5. Addition of new column (365B) under Annexure II: Deduction in respect of contribution by the employee to Agnipath Scheme under section 80CCH (Deductible Amount)

6. Addition of new column (366A) under Annexure II: Deduction in respect of contribution by the Central Government to Agnipath Scheme under section 80CCH (Gross Amount)

7. Addition of new column (366B) under Annexure II: Deduction in respect of contribution by the Central Government to Agnipath Scheme under section 80CCH (Deductible Amount)

8. Changes in existing column name under Annexure I (column number (322)): Health and Education Cess

Note:

1) Applicability for quarterly e-TDS/TCS statement of points 1 to 7 pertains to FY 2023-24 onwards.

2) Applicability for quarterly e-TDS/TCS statement of point 8 pertains to all FY.

For Form 26Q:

1. Changes in existing column name under Annexure 1 (column number (419A): Amount of cash withdrawal in excess of Rs. 1 crore as referred to in section 194N (in cases not covered by the first proviso or third proviso to section 194N)

2. Changes in existing column name under Annexure 1 (column number (419B): Amount of cash withdrawal which is in excess of Rs. 20 lakh but does not exceed Rs. 1 crore for cases covered by sub- clause (a) of clause (ii) of first proviso to section 194N (except cooperative societies)

3. Changes in existing column name under Annexure 1 (column number (419C): Amount of cash withdrawal in excess of Rs. 1 crore for cases covered by sub clause (b) of clause (ii) of first proviso to section 194N (except co-operative societies)

4. Addition of new column (419D) under Annexure I: Amount of cash withdrawal in excess of Rs. 3 crore in case of co-operative societies as covered by third proviso to section 194N (in cases not covered by the first proviso to section 194N)

5. Addition of new column (419E) under Annexure I: Amount of cash withdrawal which is in excess of Rs. 20 lakh but does not exceed Rs. 3 crore for cases covered by sub-clause (a) of clause (ii) of first proviso read with third proviso to section 194N (in case of co-operative societies)

6. Addition of new column (419F) under Annexure I: Amount of cash withdrawal which is in excess of Rs. 3 crore for cases covered by sub-clause (b) of clause (ii) of first proviso read with third proviso to section 194N (in case of co-operative societies)

7. Addition of new section 194BA under section codes list available under Annexure I: Winnings from online games

8. Addition of new section 194BA-P under section codes list available under Annexure I: Net Winnings from online games where the net winnings are made in kind or cash is not sufficient to meet the tax liability and tax has been paid before such net winnings are released

9. Changes in description of existing section code 194B : Winnings from lottery or crossword puzzle, etc

10. Changes in description of existing section code 194B-P: Winnings from lottery or crossword puzzle, etc where consideration is made in kind or cash is not sufficient to meet the tax liability and tax has been paid before such winnings are released

11. Changes in existing column name under Annexure I (column number 20): Health and Education Cess

12. Changes in description of existing section code 194N: Payment of certain amounts in cash other than cases covered by first proviso or third proviso

13. Changes in description of existing section code 194N-F: Payment of certain amounts in cash to non-filers except in case of co-operative societies

14. Addition of new section 194N-C under section codes list available under Annexure I: Payment of certain amounts in cash to co-operative societies not covered by first proviso

15. Addition of new section 194N-FT under section codes list available under Annexure I: Payment of certain amount in cash to non-filers being co-operative societies

Note:

1) Applicability for quarterly e-TDS/TCS statement of points 1, 2, 3 and 7 pertains to FY 2023-24 & Q2 onwards.

2) Applicability for quarterly e-TDS/TCS statement of points 4, 5, 6, 8, 14 and 15 pertains FY 2023-24 & Q1 onwards.

3) Applicability for quarterly e-TDS/TCS statement of point 11 pertains to all FYs.

For Form 27Q:

1. Changes in existing column name under Annexure 1 (column number (720A): Amount of cash withdrawal in excess of Rs. 1 crore as referred to in section 194N (in cases not covered by the first proviso or third proviso to section 194N)

2. Changes in existing column name under Annexure 1 (column number (720B): Amount of cash withdrawal which is in excess of Rs. 20 lakh but does not exceed Rs. 1 crore for cases covered by sub- clause (a) of clause (ii) of first proviso to section 194N (except cooperative societies)

3. Changes in existing column name under Annexure 1 (column number (720C): Amount of cash withdrawal in excess of Rs. 1 crore for cases covered by sub clause (b) of clause (ii) of first proviso to section 194N (except co-operative societies)

4. Addition of new column (720D) under Annexure I: Amount of cash withdrawal in excess of Rs. 3 crore in case of co-operative societies as covered by third proviso to section 194N (in cases not covered by the first proviso to section 194N)

5. Addition of new column (720E) under Annexure I: Amount of cash withdrawal which is in excess of Rs. 20 lakh but does not exceed Rs. 3 crore for cases covered by sub-clause (a) of clause (ii) of first proviso read with third proviso to section 194N (in case of co-operative societies)

6. Addition of new column (720F) under Annexure I: Amount of cash withdrawal which is in excess of Rs. 3 crore for cases covered by sub-clause (b) of clause (ii) of first proviso read with third proviso to section 194N (in case of co-operative societies)

7. Addition of new column (719B) under Annexure I: Whether deductee opting out of taxation regime u/s 115BAC (1A)? (Y/N)

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