Fourth Quarter Salary TDS Return (Form 24Q Q4)

Tuesday, May 17, 2011 | comments

As everyone knows that 15th May is the last date for submission of salary e-tds/e-tcs return for the 4th Quarter.  There are many questions regarding submission of data in 24Q Q4 for example below threshold limit salary data will be uploaded or not etc. To resolve such type of queries, some important questions and answers (FAQ) regarding submission of fourth quarter salary etds return are given as under :-

  1.  What is the due date for filing of Form 24Q for the fourth quarter of FY 2005-06 in electronic form?
    The due date for filing of Form 24Q for the fourth quarter of FY 2005-06 in electronic form has been extended from June 15, 2006 to July 31, 2006. This extension is valid only for FY 2005-06.

    However, the due date for filing Form 24Q for the fourth quarter of FY 2005-06 in paper form is June 15, 2006.
  2. How is the Form 24Q for the fourth quarter of FY 2005-06 different from the Form 24 Q to be furnished for the first three quarters?
    While furnishing Form 24Q for the first three quarters, Annexure II (salary details) need not be furnished. Only deductor details, Challan details and deductee details (Annexure I) have to be furnished for the first three quarters. However, for the fourth quarter, Annexure II, which gives salary details of the deductees, has to be furnished giving the details for the whole financial year.
  3. Is any proof required to be submitted in case of senior citizen?
    No proof is required to be submitted alongwith Form 24Q for the deductees whose deductee type is selected as senior citizen.
  4. If an employee is a woman as well as senior citizen, what should I mention in column no. 330?
    In such cases, the indicator should be mentioned as ‘S’ – (senior citizen).
  5. Do I need to provide separate figures under each section (like 80C, 80CCC etc.)?
    There is no need to provide separate figures for each section under 80C, 80CCC, 80CCD and other provisions of Chapter VIA. Only the aggregate amounts are required to be mentioned in column nos. 337 and 338 respectively.
  6. If an employee is employed only for the part of the year with an organization, in which quarter do I show his salary details?
    For the first three quarters, no salary details (Annexure II) are required to be provided. However, in the fourth quarter, actual salary details for the part of the year during which the employee was under employment with the organization are to be provided.
  7. In the last quarter, if the Total Amount Deductible under Chapter VIA exceeds Gross Total Income, will I have to show Total Taxable Income as negative figure?
    Total Amount Deductible under Chapter VIA is to be restricted to the Gross Total Income. Therefore, if the Total Amount Deductible under Chapter VIA exceeds Gross Total Income, the Total Taxable Income should be mentioned as zero. In other words, the taxable salary figure cannot be negative.
  8. Should the total of “Taxable amount on which tax deducted” shown in Deductee details in all four quarters match with the “Total Taxable income” figure shown in the Annexure II (salary details)?
    The figures shown under “Taxable amount on which tax deducted” in Deductee details in all four quarters need not match with the “Total Taxable income” figure shown in the Annexure II (salary details).
  9. Whether the employee reference no. provided in Annexure I in all the four quarters for an employee should be linked to salary details in Annexure II for that employee?
    The PAN of a particular employee provided in Annexure I in all four quarters should match with the PAN of that employee provided in Annexure II in the fourth quarter. Moreover, a unique employee reference no. for an employee should be used in Annexure I for all the four quarters and Annexure II in the fourth quarter.
  10. If there is no deduction in a particular quarter, should I file the NIL statement?
    The filing of a NIL statement is not mandatory.
  11. In case of NIL statement in the fourth quarter, do I need to show salary details of deductees mentioned in first three quarters?
    If there is no deduction in the fourth quarter but statements for all or any of the first three quarters were filed, statement for the fourth quarter giving only salary details (Annexure II) should be filed.
  12. Whether salary details of an employee whose taxable salary was below the threshold limit for all the quarters are required to be shown in Annexure II?
    Salary details of an employee whose salary was below threshold limit through-out the year need not be provided in Annexure II However, for a part of the year, if his salary was above the threshold limit, the salary details are to be provided in Annexure II.
  13. Is there a requirement to file annual TDS return in Form 24 for the FY 2005-06?
    From FY 2005-06 onwards, Form 24Q is to be filed on a quarterly basis. There is no requirement to file annual TDS return in Form 24.
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