TDS Returns for Salary – Quarter 4

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Owing to pay salary to an employee the employer deducts a certain amount of TDS from salary of that employee u/s 192. The employer should file TDS return on salary in form 24Q. This form should be submitted on quarterly basis. Required details of salary paid to the employees and amount of TDS deducted on such payment is to be provided in Form 24Q.

Form 24Q includes 2 annexures – Annexure I and Annexure II.

Annexure I should be submitted for all four quarters of a financial year, Annexure II is not required to be submitted for first three quarters. Annexure II should be submitted in the last quarter (January-March) only.

TDS on salary payment should be deducted as far as the income tax slab is concerned. The employer has to consider all deductions and investments of the employee if evidences of such investments are provided.

Annexure I : This annexure reflects deductee wise break-up of TDS against each challan.

Details of challans to be provided in Annexure I

i)   BSR code of branch
ii)  Date of deposition of challan
iii) Challan serial number
iv) Total Amount in challan
v)  TDS amount to be assigned among deductees
vi)  Interest amount to be assigned among deductees

Details of deductees to be provided in Annexure I

i)    Employee reference number (if available)
ii)   PAN of the employee
iii)  Name of the employee
iv)  TDS section code
v)   Date of payment
vi)  Amount paid
vii) TDS amount
viii) Education Cess

Also, if the employer doesn’t deduct TDS or deducts at low rate, he will have to mention the reasons for non-deduction or lower deduction.

TDS Section code related to Form 24Q

192A – Salary paid to govt. employees other than central govt. employees
192B – Salary paid to non-govt. employees
192C – Salary paid to central govt. employees

Annexure II : This annexure reflects a total break-up of the salary, any deductions to be claimed by the employee, his income from other sources, house property and overall tax liability as calculated.

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