Form 24Q – TDS Return for Salary Payments
If you’re an employer paying salaries, complying with income tax rules is not just a responsibility—it’s a legal obligation. One of the most important tax requirements for employers in India is filing Form 24Q, a quarterly statement that captures TDS (Tax Deducted at Source) deducted from employee salaries.
Filed under Section 192 of the Income Tax Act, 1961, Form 24Q ensures that the government is informed about all salary payments and tax deductions made by the employer. It also ensures that your employees get proper credit for the TDS in their Form 26AS and Income Tax Returns.
What is Form 24Q?
Form 24Q is the quarterly TDS return that must be filed by any employer who deducts tax at source from salaries. It includes employee-wise details of salary paid and TDS deducted, along with challan information of tax deposited with the government.
This form is submitted to the Income Tax Department through the TIN-NSDL or TRACES portal, either directly or via authorized TIN facilitation centers.
Who Should File Form 24Q?
Filing Form 24Q is mandatory for:
- Companies (Private Limited, LLP, etc.)
- Government departments
- Proprietors and partnership firms
- Educational institutions, NGOs, and hospitals
- Any employer who deducts TDS on salary
Even if you have just one employee and you deduct tax on salary, you must file this return every quarter.
Details of Challan to be Mentioned in Annexure I
BSR code of the bank branch
Date on which the challan was deposited
Challan serial number issued by the bank
Total amount deposited through the challan
TDS amount to be distributed among deductees
Interest amount to be allocated among deductees (if any)
Details of Deductee to be Mentioned in Annexure I
Employee reference number (if available)
PAN of the employee
Name of the employee
TDS section code under which tax is deducted
Date of payment or credit
Amount paid or credited to the employee
TDS amount deducted
Education cess (if applicable)
Annexure II
Annexure II provides a detailed breakup of an employee’s salary, deductions claimed, income from other sources, income from house property, and the total tax liability calculated for the financial year.
Annexure III
Annexure III includes a comprehensive breakup of pension and interest income paid or credited during the financial year. It also covers income from other sources, house property, and the overall tax liability as computed.
| Quarter |
Due Date |
| April to June |
31st July |
| July to September |
31st October |
| October to December |
31st January |
| January to March |
31st May |
What Are the Charges for Late or Incorrect Filing of Form 24Q?
If Form 24Q is not filed on time or if there are errors in TDS deduction or deposit, the following charges may apply:
Interest for Delay in Deduction or Payment
When TDS is not deducted on time:
Interest at 1% per month is charged from the date it was due to be deducted until the actual date of deduction.
When TDS is deducted but not paid on time:
Interest at 1.5% per month is charged from the date of deduction to the actual date of deposit.
Daily Late Filing Fee – Section 234E
-
A fee of ₹200 per day applies for each day the return is delayed.
- This continues until the total late fee equals the TDS amount due.
Additional Penalty – Section 271H
Apart from the late filing fee:
- The Assessing Officer may impose a penalty of ₹10,000 to ₹1,00,000 depending on the case.
How to Avoid Penalty Under Section 271H
You can avoid this penalty if all these conditions are fulfilled:
- TDS is deposited correctly
- Interest and late fees are paid in full
- Return is filed within one year from the original due date
