Form 24Q – Quarterly TDS Return for Salary Payments

Accurate Form 24Q Filing for TDS on Salary Under Section 192 — Covering All Employees

Form 24Q is the quarterly TDS return that every employer must file for Tax Deducted at Source on salary payments made to employees under Section 192 of the Income Tax Act, 1961. Form 24Q contains details of the total salary paid to each employee during the quarter, the TDS deducted, and the challan through which the TDS has been deposited. The Q4 (January–March) return — filed by 31st May — includes additional information such as each employee's investment declarations, deductions claimed under Chapter VIA (80C, 80D, etc.), and computation of total salary income, forming the basis for generating Form 16 (the employee's TDS certificate).

Accurate Form 24Q filing is essential for employees to receive correct TDS credit in their Form 26AS and to receive their Form 16 on time for ITR filing. Our professionals provide complete Form 24Q filing services, connecting with our TDS Return Filing, TDS Return Preparation, Form 26Q, and TDS & Tax Liability advisory services.

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Monthly Salary TDS Computation

Monthly computation of TDS on salary for each employee — applying the correct tax regime (old or new), accounting for declared investments and deductions under Chapter VIA, HRA exemption, LTA, and other applicable exemptions.

Form 24Q Quarterly Filing

Quarterly preparation and filing of Form 24Q — with employee salary details, TDS deducted, challan mapping, and all required disclosures — using NSDL's RPU and FVU tools for validation before submission.

Q4 Annualised Return Filing

Preparation of the detailed Q4 Form 24Q — covering full annual salary computation, Chapter VIA deduction details, investment declarations, exemptions claimed, and finalised TDS for Form 16 generation.

Form 16 Part A & Part B Generation

Generation of Form 16 Part A from TRACES (post Q4 Form 24Q filing) and preparation of Form 16 Part B (salary breakup, exemptions, deductions) — combined and distributed to employees by 15th June.

Form 12BB Investment Declaration Management

Collection and management of employee Form 12BB investment declarations — maintaining declarations securely, updating TDS computation when declarations change, and ensuring all declarations are correctly reported in Form 24Q.

New vs Old Tax Regime Advisory

Advisory on the tax impact of new vs old tax regime for each employee — helping employees make informed regime selection and ensuring the correct regime is applied in Form 24Q TDS computation.

Key Facts About Form 24Q

Form 24Q is filed quarterly for TDS deducted on salary under Section 192
Q4 return (January–March) includes full salary computation, Chapter VIA deductions, and investment declarations for the year
Form 16 (employee TDS certificate) is generated from TRACES based on the Q4 Form 24Q data
Old Tax Regime or New Tax Regime selection by employee must be correctly reflected in Form 24Q
TDS on salary must be spread equally across remaining months when investment declarations change mid-year
Form 12BB investment declaration from employee is the basis for TDS computation and Form 24Q reporting

Frequently Asked Questions

What information is required to file Form 24Q?

Form 24Q requires: employer TAN and PAN; employee name, PAN, and designation; quarterly salary paid (gross salary, allowances, perquisites); TDS deducted during the quarter; challan details (BSR code, date, serial number, amount); and (for Q4) the annual salary computation with full Chapter VIA deductions, investment declarations, exemptions claimed (HRA, LTA, gratuity, leave encashment), net taxable salary, total TDS for the year, and tax regime selected by the employee. The Q4 return is significantly more detailed than Q1, Q2, and Q3 returns.

When must Form 24Q be filed?

Form 24Q must be filed quarterly: Q1 (April–June) by 31st July; Q2 (July–September) by 31st October; Q3 (October–December) by 31st January; Q4 (January–March) by 31st May. The Q4 deadline is later than other quarters because it requires final investment proof submission, year-end salary computation, and more detailed data. Late filing attracts ₹200 per day under Section 234E from the due date, and penalty under Section 271H for returns filed beyond one year from the due date.

How does an employee's investment declaration affect Form 24Q?

At the start of each financial year, employees submit projected investment declarations in Form 12BB — declaring planned investments under Section 80C (PPF, ELSS, LIC, home loan principal), 80D (medical insurance), HRA, and other deductions. The employer uses these declarations to compute monthly TDS under Section 192 and report it in Form 24Q. If an employee fails to submit actual proof of investments by year-end, the employer must increase TDS in Q3 and Q4 to recover the shortfall. The Q4 Form 24Q reflects the final verified investment proofs.

What is the difference between Form 24Q and Form 26Q?

Form 24Q is specifically for TDS on salary payments to employees under Section 192 — it captures salary income, deductions, exemptions, and annual TDS computation. Form 26Q is for TDS on all non-salary payments to residents under Sections 194A to 194S — covering interest, contractor fees, professional fees, rent, commission, and other specified payments. Both are filed by deductors, but they cover different types of payments and are structured differently. Most employers must file both — Form 24Q for salary and Form 26Q for non-salary payments.

Can employees opt for a different tax regime mid-year?

Yes. Employees can opt for the new or old tax regime at the time of submitting their investment declaration at the start of the year. However, switching regime mid-year requires informing the employer, who must then recompute TDS for all remaining months under the newly selected regime and adjust the previous months' TDS accordingly (spreading the adjustment across remaining months). The Q4 Form 24Q must correctly reflect the final regime selected by the employee — as this determines Form 16 and is used by the employee for their ITR filing.

Need Accurate Form 24Q Filing and Employee Form 16 Generation?

Our professionals handle monthly TDS computation, quarterly Form 24Q filing, Q4 annual return, and Form 16 generation for all your employees.

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F.A.Q.

What is GSTR-9 and why is it required?

GSTR-9 is an annual GST return that summarizes all transactions reported during the financial year. It is required to ensure proper reconciliation and compliance with GST laws.

Who is required to file GSTR-9?

All regular GST-registered taxpayers are required to file GSTR-9, except composition dealers, casual taxable persons, and non-resident taxpayers.

What is the due date for filing GSTR-9?

The due date is generally 31st December following the end of the relevant financial year, unless extended by the government.

What details are included in GSTR-9?

It includes details of outward supplies, inward supplies, input tax credit claimed, taxes paid, and adjustments made during the year.

Is GSTR-9 mandatory for all taxpayers?

GSTR-9 is mandatory for most regular taxpayers, but certain small taxpayers may get exemptions based on turnover thresholds notified by the government.

What happens if GSTR-9 is not filed on time?

Late filing may result in penalties and late fees, along with potential compliance issues or notices from GST authorities.