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.

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