Form 24Q – TDS Return on Salary
Form 24Q is a quarterly statement that must be filed by employers for Tax Deducted at Source (TDS) on salary payments under the Income Tax Act, 1961. Every employer who deducts TDS from employee salaries is required to submit this return to the Income Tax Department within the prescribed deadlines.
The purpose of Form 24Q TDS return filing is to report the amount of tax deducted from employee salaries and deposited with the government. At N D Savla & Associates, we assist businesses, companies, and employers in preparing and filing Form 24Q TDS returns accurately and on time.
What is Form 24Q?
Form 24Q is a TDS return specifically used for reporting TDS deducted on salary payments. It contains details of salary paid to employees, tax deducted, and tax deposited with the government during the relevant quarter.
Employers must submit this form every quarter to ensure proper reporting of salary-related tax deductions.
Who is Required to File Form 24Q?
Form 24Q must be filed by:
Employers deducting TDS from employee salaries
Companies, firms, and organizations paying salaries
Government and non-government employers
Any entity responsible for deducting TDS on salary must comply with quarterly filing requirements.
Details Included in Form 24Q
The TDS return filed in Form 24Q generally includes the following information:
Employer’s TAN and PAN details
Details of employees and salary payments
Amount of TDS deducted from salaries
Amount of TDS deposited with the government
Salary breakup and tax computation details
The return ensures that the deducted tax is properly reported to the Income Tax Department.
Due Dates for Filing Form 24Q
Form 24Q must be filed quarterly for each financial year. The due dates for filing are generally as follows:
Quarter 1 (April – June): 31 July
Quarter 2 (July – September): 31 October
Quarter 3 (October – December): 31 January
Quarter 4 (January – March): 31 May
Filing the return within these timelines helps avoid penalties and ensures smooth compliance.
Importance of Filing Form 24Q
Timely filing of Form 24Q TDS returns ensures that employee tax deductions are correctly reported and credited to their PAN. It also helps employers maintain compliance with tax regulations and avoid late filing penalties.
Accurate reporting in Form 24Q is important for generating Form 16, which employees use while filing their income tax returns.
Our Form 24Q Filing Services
At N D Savla & Associates, we provide complete assistance for TDS return filing and compliance, including:
Preparation and filing of Form 24Q TDS returns
Verification of employee salary and tax details
Reconciliation of TDS deductions and challans
Correction and revision of TDS returns if required
Advisory on TDS compliance under the Income Tax Act
Our team ensures that TDS filings are completed accurately and within the prescribed deadlines.
F.A.Q.
Form 24Q is a quarterly TDS return filed by employers to report tax deducted at source on salary payments.
Any employer who deducts TDS from employee salaries is required to file Form 24Q with the Income Tax Department.
Form 24Q must be filed every quarter during the financial year.
It includes details of employer TAN, employee PAN, salary payments, tax deducted, and tax deposited with the government.
Late filing may result in penalties and interest charges under the Income Tax Act.
Yes. The details reported in Form 24Q are used to generate Form 16 for employees.
Yes. Professional firms like N D Savla & Associates assist employers with preparation, verification, and filing of Form 24Q TDS returns.
