Form 24Q (Salary TDS Return), in the fourth quarter (Q4) includes two annexures – Annexure I and Annexure II.
Annexure I is the regular quarterly data for the months of January to March. Annexure II is the tax computation calculation information for each employee along with summary and tax deduction (TDS) for the whole financial year. This would determination, if any tax is due or needs to be refunded.
Summary and information to be submitted is summarised below:
Challan Details
• Date of Payment
• BSR Code
• Challan No.
• TDS
• Surcharge
• Education Cess
• Interest
• Fee
• Others
• Total
• Minor Head
• Remarks
• Interest (allocated)
• Others (allocated)
Annexure I
• Challan Serial No.
• Challan No.
• Date
• Employee Serial No.
• Employee Name
• PAN
• Section
• Payments made to employees other than Govt.
• Date
• Amount of Payment
• Income Tax
• Surcharge
• Cess
• Total
• Tax Deposited
• Deducted Date
• Remarks
• Certificate No.
Annexure II
• Total Salary
• Less : Allowance under Section 10
• Balance
• Break up of Balance (Current Employer Salary and previous employer salary)
• Deductions u/s 16
• Aggregate of Entertainment Allowance, Tax on Employment and Deduction u/s 16(ia)
• Income chargeable under the head ‘Salaries’
• Add : Any other income other than salary offered for TDS u/s 192(2B)
• Gross Total Income
• Deductions under chapter vI-A
• Total deduction u/s 80C, 80CCC, & 80CCD(1)
• Total Deductible Amount (Other Sections)
• Aggregate of deductible amount under Chapter VI-A
• Total Taxable Income
• Tax on Total Income after deducting Rebate
• Surcharge
• Education Cess @ 4%
• Tax Payable
• Less: Relief u/s 89
• Net Tax Payable
• Total TDS Deducted (Break up of Current and Previous Employer)
• Aggregate rent payment if exceeds Rs. 1 lakh for House Rent Allowance (HRA)