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Salary Details (Annexure II) : Form 24Q-Q4

Vide Notification No. 36/2019 by the Income Tax Department it had substantially modified the format of Part B of Form 16 (Salary TDS Certificate given to Employees) with effect from FY:18-19. Correspondingly, the information to be provided by the employer in Annexure II of Form 24Q-Q4 (Salary Details – providing tax computation of each employee) had also been changed. This came into effect for all Salary TDS Returns (Form 24Q) for FY:2018-19, Quarter 4.

Objective of the Department seems to consolidate information pertaining to the most frequently exercised exemptions & deductions being considered while determining the taxable income.

Highlights:

TRACES – e-verification Scheme

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