Form 24Q
Form 24Q is the quarterly statement employers (deductors) must file with the Income Tax Department, reporting TDS deducted on salary payments under Section 192. It is filed electronically through the TIN-NSDL/TRACES system for each of the four quarters of a financial year.
Each Form 24Q filing contains Annexure I, which lists challan and deductee-wise TDS details for that quarter, and Annexure II (filed only in Q4), which provides the complete annual salary breakup for every employee. Data from Form 24Q feeds directly into each employee's Form 26AS and Form 16.
Key points
- ✓ Filed quarterly by every employer deducting TDS on salaries
- ✓ Annexure I covers deductee and challan details for the quarter
- ✓ Annexure II (Q4 only) has the full annual salary and deduction breakup
- ✓ Due dates are typically 31 Jul, 31 Oct, 31 Jan, and 31 May for Q1-Q4
- ✓ Late filing attracts a fee under Section 234E and penalty under Section 271H
Example
An employer with 50 employees deducting TDS on salaries must file Form 24Q for Q1 (Apr-Jun) by 31 July, reporting each employee's PAN, salary paid, and TDS deducted, which then reflects automatically in each employee's Form 26AS.
Frequently asked questions
Who is required to file Form 24Q?
What happens if Form 24Q is filed late?
How is Form 24Q different from Form 26Q?
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