Reverse Transport / Penal Rate Flag in TDS Deduction Entries

FVU 3.0 requires

• Payment to transport contractors without deduction of tax at source to be shown in eTDS statement with flag “T” in column “Reason for Nil/lower Deduction”
• Similarly deduction of tax at penal rate of 20% is to be shown separately with flag “C” in column “Reason for Nil/lower Deduction”

In TdsPac Version 4.35  : At the time of generating eTDS statement , a pop-up screen shows

• All transactions where TDS section is 194C, party is having valid PAN and TDS amount is zero. User has to confirm these transactions as flag “T” transactions
• All transactions where TDS  rate >= 20% , PAN is not valid and TDS amount is more than zero. User has to confirm these transactions as flag “C” transactions.
• However there is no option to unflag these trasactions, in case user wants to do so.

New Option to unflag these transactions

• Utilities->Reverse Transporters/Penal Flag
• Select the Quarter and Form No
• Select Transporter OR Penal Rate radio button. Click Display
• The selected TDS deduction entries will be displayed in the grid
• User can select/de-select the displayed entries
• On clicking Update, the flag for selected entries will be re-set