How To File Salary TDS Return – Form 24Q

1. How To File Salary TDS Return – Form24Q taxguru.in/income-tax/file-salary-tds-return-form-24q.html • May 16,2022 • The due date for filing TDS returns under Income Tax is nearing. The Deductors have sped up their process of filing TDS Returns and those who are yet to file them mustdo • so before the last date. The due date to file Form 24Q for the 4th Quarter of FY 2021- 22 is 31stMay2022. • Section 192 of the Income Tax Act provides that every person responsible for paying any income which is chargeable under the head ‘salary’ should deduct income taxon the estimated income of theassesse • A person deducting taxes is responsible for various compliances, namely the deductionof TDS and deposits in the government treasury, filing of periodic TDS returns, andthe • issue of TDScertificates. • The details of salary paid to the employees and TDS deducted on such payment is tobe reported in Form 24Q. It is a statement for TDS from salaries, which must be filled and submitted by the DeductorQuarterly. • 2. PREREQUISITE FOR SALARY TDS FORM24Q • Valid TANNumber • Return Preparation Utility (RPU) for preparing the TDSStatement. (c)F ile Validation Utility (FVU) forvalidation. • JAVA Run-time Environment (JRE)Programme • CSIFile. • 2.1 It is advisable for the deductor to maintain a separate excel sheet indicating deductee details and challan details at the time of preparation of the TDS Statement. It would help him in not referring to the individual details one by one at the time of preparation of the 24Q return. The details in excel can be copied in respective columns of RPU and heneed not enter each detail individually in the Return Preparation Utility. • . PREPARATION OF FORM 24Q STATEMENTForm 24 can be prepared online by using NSDL e- TDS Return Preparation Utility or in-house software, or any third-partysoftware. • RETURN PREPARATION UTILITY (RPU)NSDL e-Gov has developed software called e-TDS/TCS Return Preparation Utility (RPU) to facilitate the preparation ofe-TDS/ TCS returns. The RPU can be used to prepare quarterly regular as well as correction statements

2. FILE VALIDATION UTILITYThe File Validation Utility (FVU) files are requiredto verify if the e-TDS return files generated by the deductors conformto • the prescribed format. The e-TDS FVU is a Java-based utility used for preparingquarterly e-TDS Statements. The latest version of FUV is version7.6 • JAVA:Java Run-time Environment (JRE) should be installed on the computer where the e-TDS RPU is being installed. Java is freely downloadable from http://java.sun.com and http://www.ibm.com/developerworks/java/jdk • CSI FILE: CSI file contains challan details submitted to the bank. It is mandatory to use the CSI file at the time of validation of TDS/TCS statement(s) where challan ispaid through the bank(s). CSI file can be downloaded by the followingprocess: • Go tohttps://tin.tin.nsdl.com/oltas/. • Click on TAN BASEDVIEW. • Fill in the required details and downloadit. • STEP BY STEP GUIDE TO PREPARE E-TDS RETURN The article covers stepby step guide for preparing and filing Form 24Q using NSDL e- TDS Return Preparation Utility(RPU). • Download & Install RPU’s latest version of RPU. (The latest version for filingTDS Return for Q 4 of FY 2021-22 is RPU4.1)

3. 4.2 Download and unzip the folder. Then select the TDS_RPU.4.1 jarfile. The server will then direct to the following screen. Select Form24Q.

4. Form 24Q consists of the 4 TABS: (a) Form (b) Challan Details (c) Annexure I(d) Annexure II (Annexure II is applicable for the 4th quarteronly) • FORM: –In the form window, the basic details of the deductor are required tobe reported. This includes thefollowing • (i) Particulars of the statement such as financial year, TAN No, PAN No, Category of the deductor,etc. (ii) Particulars of the Deductor i.e. address, Phone Number, e-mail, GST Number,etc. (iii) Particulars of the person responsible for Deduction of Tax i.e. Name, Designation, PAN No. , Telephone No. , E-Mail, etc. Towards the end, the form requires thementioning of the details of Form 24Q filed for the earlierperiod.

5. 5.2 CHALLAN:The challan tab contains the details of the tax paid. The important columns are TDS amount, surcharge, interest, and fees. The BSR code is availableon the challan and can be retrieved from there. In the ‘minor head of challan’ select200. • ANNEXURE 1 – DEDUCTEE DETAILSIt contains the salary details of theemployee such as– Employee reference No., PAN No., Name of the employee, TDS section Code, Date of payment, Amount paid, TDS amount, Surcharge andCess. • Click on Annexure I to fill in deductee details and insert Rows. The numberof rows will be the same as the number ofemployees.

6. 5.3.2 In the “section under which payment made” select the appropriate section. Section 92 B is for non-government employees while 92 A and 92 B are forgovernment employees. • Enter company-specific employee code in the section “Employee Code “. Ifthe company does not have any such code the serial number can be usedinstead. • The most important column is the PAN number of the employee. It must becorrect. Enter the valid 10-digit PAN of the deductee. In case a valid PAN is not available then enter ‘PANNOTAVBL’, ‘PANAPPLIED’, or ‘PANINVALID’ whichever isapplicable. • Mention the name of the deductee, the date on which the amount was paid/credited to the deductee, and the amount paid to the deductee. Generally, the date of the deduction of TDS is the date of credit of salary in the bank accounts of the employees.So both columns can have the samedate. • Enter deductee details i.e. TDS, Surcharge, Cess, etc. Mention the total tax deposited for the deductee, and the date of tax deducted. The date and amountof payment are the details of the total Taxable Salary paid and not the TDSamount. • There is a separate column where the employer can mention the certificate number. Fill it up only in case of non-deduction or lower deduction. If the employer has not deducted Tax or deduct tax at a lower rate, he’ll have to provide the reasons for suchnon- deduction or lowerdeduction. • 5.4 ANNEXURE 2: SALARY DETAILSThe most critical aspect of this returnisAnnexure • II. It contains salary details of the complete financial year of the employee orDeductee, his income from other sources, and overall tax liability, ascalculated. • 5.4.1 Annexure II is applicable only for Quarter4.

7. 5.4.2 Add the required number of rows, which would be equal to the number of employees. Then fill in basic details such as name, PAN number, category ofemployee, and duration ofemployment. 6. Now, click the ‘create file’ button. Then a dialog box will appear as shownbelow. • The FVU file and form 27 A will generate. After signing form 27 A by theemployer, submit the form accompanied by the FVU file to the TIN facilitatorcentre. • Form 27A is a simple form containing a summary of quarterly e-TDS and TCSreturn. The employer must sign it and fill it in on a paper along with a return at the nearestTIN • FacilitationCentre. • 8 TIN facilitator centres receive the e-TDS returns from Deductors and upload them tothe TIN central system. Form 24 can also be filed online thru the income tax portal https://eportal.incometax.gov.in • Disclaimer: The article is for educational purposesonly.

8. The author can be approached at [email protected](Dear Readers, if you want meto write a simplified article on any specific topic of Direct Tax, please mention it in the commentbox.) Tags:TDS Kindly Refer to Privacy Policy & Complete Terms of Use and Disclaimer. AuthorBio Name: CA Anita Bhadra Qualification: CA in Job /Business Company: BHARAT ELECTRONICSLIMITED Location: MUMBAI, Maharashtra, IN Member Since: 17 Aug 2017 | Total Posts:161 I View FullProfile My PublishedPosts Debt-Based Mutual Funds Reporting of Capital Gain in Income Tax Return Submit Letter of Undertaking (LUT) for FY 2022-23 by31.03.2022 File Revised Income Tax Return For AY2021-22 Missed The Deadline – File BELATED Income Tax Return Tax Audit Requirement For F&OTransactions View More Published Posts Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects. Join us onWhatsapp GROUP LINK Join us onWhatsapp GROUP LINK

9. Join us onWhatsapp GROUPLINK Join us onWhatsapp GROUPLINK Join us onWhatsapp GROUPLINK Join us onWhatsapp GROUPLINK Join us onWhatsapp GROUPLINK Join us onWhatsapp GROUPLINK Join us onWhatsapp GROUPLINK Join us onWhatsapp GROUPLINK Join us onTelegram GROUPLINK Review us onGoogle More Under IncomeTax «PreviousArticle

10. Leave aComment Your email address will not be published. Required fields are marked* 10/10