Form 24Q: TDS on Salary

Author
By Hiral Vakil on March 9, 2019

What is Form 24Q?

Form 24Q is a TDS Return/ Statement containing details of TDS deducted on salary of employees by employer. Form 24Q is required to be submitted on quarterly basis on or before the due date. It has details of salary paid and TDS deducted from salary payment to the government.

Who is required to file Form 24Q?

Employers are required to deduct TDS from payment of salary made to employees. Hence, all the employers (i.e; company, firms etc) are required to file Form 24Q with income tax department on quarterly basis. TDS needs to be deducted from salary income of employee when his income for a particular year is more than basic exemption limit.

Details required to file Form 24Q

Following are the details required to file Form 24Q:

EntityDetails
Deductor/ EmployerTAN, PAN, Name, Address and Contact Details
Responsible PersonName, PAN, Address and contact Details
ChallanChallan serial number, BSR Code, TDS, Surcharge and Education Cess paid
DeductionDeductee/ Employee Name, PAN, Amount of Salary paid, TDS amount deducted and deposited

In addition to above details, Annexure II needs to be filed only for the final quarter (Q4) of the year. It contains Salary Details of each employee.

What is the due date to file Form 24Q?

Due date for Payment of TDS deducted on salary for every month is 7th of the next month. For the month of March, it is 30th April of the next year.

Due date for filing of Form 24Q for every quarter is as follows:

QuarterPeriodDue date for filing Form 24Q
Q11st April – 30th JuneOn or before 31st July
Q21st July – 30th SeptemberOn or before 31st October
Q31st October – 31st DecemberOn or before 31st January
Q41st January – 31st MarchOn or before 31st May