What is Form 24Q?

Form 24Q is the quarterly return that employers file with the Income Tax Department for Tax Deducted at Source (TDS) on salary payments. It contains details of the deductor, deductees, salary paid, exemptions, deductions and the TDS deposited. It is governed by Rule 31A of the Income Tax Rules, 1962.

The return is filed in four quarters. For salaries paid from April to June, the return is due by 31 July; for July to September, it is due by 31 October; for October to December, by 31 January; and for January to March, by 31 May. Each quarterly return includes a challan-wise summary and a deductee-wise breakup.

Form 24Q has two annexures. Annexure I contains challan details and the total TDS deposited. Annexure II contains the salary breakup for each employee. Employers must also issue Form 16 to each employee using the data filed in Form 24Q, and Part A of Form 16 is downloaded from TRACES after the quarterly return is processed.

Employers must ensure the TDS shown in Form 24Q matches the entries in Form 16 Part A, which is downloaded from the TRACES portal. Mismatches can lead to demand notices and difficulties for employees when filing returns.

Worked example

A company deducts TDS of ₹20,000 in April, ₹18,000 in May and ₹22,000 in June. The Q1 Form 24Q includes:

| Month | Salary paid | TDS deducted | |---|---|---| | April | ₹1,50,000 | ₹20,000 | | May | ₹1,45,000 | ₹18,000 | | June | ₹1,55,000 | ₹22,000 | | Total | ₹4,50,000 | ₹60,000 |

The employer deposits the total TDS through challan ITNS 281 and files Form 24Q by 31 July.

Related reading

Read the TDS on salary guide or use the tax regime calculator.