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NAV 2016 – Indian Localization Released in August 2016

Product: Microsoft Dynamics NAV
Version: NAV 2016

Released Features (Find CustomerSource Links)

Title                                                                                                     Internal Reference
Additional Depreciation under Income Tax                                        167285
Krishi Kalyan Cess feature for Microsoft Dynamics NAV 2016      167286
New File Validation Utility (Version 5.0) for TDS                               167288

Enhancement of e TDS (Form 26Q & Form 27Q) feature for Microsoft Dynamics NAV 2016 – India

https://mbs.microsoft.com/partnersource/global/deployment/downloads/tax-regulatory-updates/msdnav2016enhancementform2627q

This release addresses the changes brought in by versions of FVU ranging from 4.3 to 5.0 released time to time by the Income tax department. It includes incorporating necessary validations along with updating e TDS files of Form 26Q and Form 27Q generated by the application to ensure compatibility with the latest FVU (5.0) hosted in NSDL website.

Krishi Kalyan Cess feature for Microsoft Dynamics NAV 2016 – India

https://mbs.microsoft.com/customersource/Global/NAV/downloads/tax-regulatory-updates/Krishi_Kalyan_Cess_feature_for_Microsoft_Dynamics_NAV_2016_India
Government has introduced a new Cess called ‘Krishi Kalyan Cess (KKC)’ in Finance Act 2016 which will take effect from 01-Jun-2016. It is imposed on all taxable Services at the rate of 0.5%. KKC is not a Cess on Service Tax but it is a tax on taxable services in addition to Service tax. It would be calculated in the same way as Service Tax is being calculated.?

Enhancement of Additional Depreciation Feature for Microsoft Dynamics NAV 2016 – India

https://mbs.microsoft.com/partnersource/global/deployment/downloads/tax-regulatory-updates/msdnav2016enhancedepIndia

This release facilitates carry forward of additional depreciation to the subsequent year in case the asset is acquired and put to use for less than 180days during a financial year.?

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