Form 24Q
Form 24Q is the quarterly TDS return that every employer must file for tax deducted from salaries. It reports salary paid, TDS deducted, and PAN-wise details for each employee.
What is Form 24Q?
Form 24Q is filed every quarter by the employer with the Income Tax Department through TIN-NSDL. The deadlines are 31st July (Q1), 31st October (Q2), 31st January (Q3), and 31st May (Q4). Q4 is the most important because it carries the annual salary breakup, deductions, exemptions, and tax computation per employee. This data is used to generate Form 16 Part A. The return has two annexures. Annexure I lists challans and deductee-wise (employee-wise) TDS details for the quarter. Annexure II is filed only with Q4 and contains the year-end salary statement, including all Section 10 exemptions, Chapter VI-A deductions, and final tax. Filing errors in 24Q are the top reason employees see TDS mismatches in Form 26AS or AIS. Quoting the wrong PAN or wrong TAN can mean the deducted tax does not show up in the employee's tax credit.
Example
An employer with 50 employees deducts ₹15 lakh of TDS in Q1 (April-June). They file Form 24Q by 31st July listing each employee's PAN, salary paid, and TDS for each month. The challans deposited match the totals.
How Form 24Q is used
Payroll software generates the FVU (file validation utility) file for 24Q directly from monthly payroll data. HR uploads it through the e-filing portal or via authorised intermediaries.
Form 24Q FAQs
What if PAN is wrong in Form 24Q?
Wrong or invalid PAN means TDS is deducted at 20% (or higher) and the employee's 26AS won't show the credit. Employers must validate PAN before filing.
Can I revise Form 24Q?
Yes. A correction return can be filed any number of times to fix PAN, challan, or amount errors.
Is Form 24Q the same as Form 16?
No. Form 24Q is filed by the employer with the IT department. Form 16 is the certificate the employer issues to each employee, generated from 24Q data.