TDS and TCS Return Filing in TallyPrime 7.2: Latest FVU Updates Explained cevious.co.in

Learn TDS and TCS return filing in TallyPrime 7.2, FVU 1.2 updates, new return forms, validation steps, and common filing errors. Indian businesses must maintain accurate tax deduction and collection records to meet their TDS and TCS compliance requirements. Accountants and tax professionals need to record transactions correctly, reconcile tax payments, prepare the applicable quarterly statements, and submit them through the prescribed filing process. TallyPrime 7.2 introduces updated TDS and TCS return support aligned with Protean's File Validation Utility (FVU) 1.2 for the applicable new return formats. Released on 12 October 2026, TallyPrime 7.2 includes support for updated Forms 138, 140, 143 and 144, along with additional validation checks for Interest Allocation, Others Allocation and Date of Payment. These changes are relevant to businesses preparing returns under the updated Income-tax Act, 2025 framework. However, the applicable form, file format and validation utility depend on the reporting period and statement type. This guide explains the latest TallyPrime 7.2 TDS and TCS updates, the difference between RPU and FVU, return preparation steps, common validation errors, and practical compliance tips.