Form 24Q–TDS Return on Salary Payment
When paying salary to an employee, the employer deducts TDS u/s 192. The employer has to file a salary TDS return in Form 24Q. 24Q is to be submitted on a quarterly basis. Details of salary paid to the employees and TDS deducted on such payment is to be reported in 24Q.
24Q consists of 2 annexures – Annexure I and Annexure II.
While Annexure I has to be submitted for all four quarters of an FY, Annexure-II is not required to be submitted for the first three quarters. Annexure-II has to be presented only in the last quarter (Jan – Mar).
TDS on salary has to be deducted as per the income tax slab. The employer has to consider all deductions and investments of the employee (if proofs of such investments are submitted).
Annexure I of 24Q
Annexure I shows a deductee-wise break up of TDS against each particular challan.
Details of challan(s) to be mentioned in Annexure I
- BSR code of the branch
- Date of deposition of challan
- Challan serial number
- Total Amount in Challan
- TDS amount to be allocated among deductees
- The interest amount to be allocated among deductees
Details of deductee(s) to be mentioned in Annexure I
- Employee reference number (if available)
- PAN of the employee
- Name of the employee
- TDS Section Code
- Date of payment/ credit
- Amount paid or credited
- TDS amount
- Education Cess
Besides, if the employer doesn’t deduct TDS or TDS at a lower rate, he’ll have to provide the reasons for such non-deduction or lower deduction.
TDS Section Code
192A – Salary paid to govt. Employees are other than the union govt. employees
192B – Salary paid to non-government employees
192C – Salary paid to union govt. employees
Annexure-II of 24Q
Annexure-II consists of a total breakup of the salary, any deductions to be claimed by the employee, his income from other sources, house property, and overall tax liability.
Due Dates of 24Q
| Quarter | Due Date |
| April to June | 31 July |
| July to September | 31 October |
| October to December | 31 January |
| January to March | 31 May |
Fees/ Interest/ Penalties attached with 24Q
Interest:
If TDS is not deducted – 1% per month, from the due date of deduction to the actual date of deduction,
If TDS is not deposited – 1.5% per month, from the actual date of deduction to the exact date of payment
Late Filing Fees – under section 234E, a fine of Rs. 200 per day will be paid until the return is filed. This amount has to be paid each day until the total penalty equals the TDS amount.
The penalty under 271H – In addition to fees to be paid under 234E, AO may charge a penalty of a minimum of Rs. 10,000 and maximum Rs. 1,00,000.
No penalty will be charged under 271H if –
- TDS is deposited to the government
- Late filing fees and interest (if any) are also deposited
- Return is filed before the expiry of 1 year from the due date
Created & Posted By Ravi Kumar
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