Difference between TDS Return Forms 24Q and 26Q

Difference between TDS Return Forms 24Q and 26Q


Form 24Q - Statement for TDS from Salaries
Form 26Q - Statement for TDS from all payments other than Salaries
It is used for preparing eTDS returns for the TDS deducted on salary under Section 192 of the Income Tax Act, 1961.
It is to be submitted for tax deduction at source for all the payments received other than the salary.
It has to be submitted on a quarterly basis by the deductor.
It is submitted on a quarterly basis by the deductor and is applicable for tax deducted at source under section 200(3), 193 and 194 of the Income Tax Act of 1961.
It contains details like salaries paid and the TDS deducted of the employees by the employer.
The income on which the tax is deducted at source includes interest on securities, dividend securities, professional fees, directors’ remuneration, etc.

It contains 2 annexures namely Annexure-I and Annexure II. Annexure-I contains details of the deductor, deductees and challans, while Annexure II contains the salary details of the deductees.

Annexure-I is to be submitted by the deductor for all the four quarters of the financial year.
Annexure II need not be submitted in the first three quarters of the financial year, but has to be furnished and submitted in the fourth quarter of the financial year with details of the employees’ salaries of the entire financial year.
It is compulsory to furnish PAN by the deductors who are non-government deductors. For government deductors “PANNOTREQD” has to be mentioned on the form.



For more information on this visit https://www.taxaj.com/

    • Related Articles

    • TDS (Tax Deducted at Source) return filing in India

      Full form of TDS is Tax Deducted at Source. You may have experienced TDS in many forms - Bank FDs, salary payments to vendor payments, and TDS seem to infiltrate everywhere. Normally, TDS means an advance tax withheld by the payor from your income, ...

    • How to calculate TDS on salary ?

      How to calculate TDS on salary payments? Let us take an illustrative example for the better understanding: Particulars Income Tax payable (In ₹) Salary Income 10,00,000 Less: Deductions (as per the declaration submitted by the employee) 1,50,000 Net ...

    • TDS on Salary

      TDS on Salary under Section 192 Section 192 of the Income Tax Act, 1961 deals with tax deducted at source (TDS) on salary. Your employer will deduct TDS from the salary payable to you. The salary you receive from your employer is categorised in ...

    • What if there is a mismatch in 26AS with TDS statement ?

      What to do if TDS credit is not reflected in Form 26AS? If tax has been deducted at source but the credit in Form 26AS is absent, then it may be due to one of two reasons: The payer may not have deposited the tax collected The payer may not have ...

    • When the employer deducts TDS and does not issue a certificate?

      Any person responsible for paying salaries is required to deduct TDS before making payment. The Income Tax Act lays down that every person who deducts TDS from a payment, must furnish a certificate with details of TDS deducted & deposited. An ...