1. Implementing Payroll for India
  2. Form 24Q Report for India

Form 24Q Report for India

Use the Form24Q report to furnish the quarterly tax deduction at source (TDS) returns containing details of deductees and challan details related to the deposit of tax to the Income Tax Department (ITD).

Entities making payments to third parties (deductees) are required to deduct tax at source from these payments. The TDS needs to be deposited at any of the branches of banks authorised to collect taxes on behalf of Government of India. As per the Income Tax Act, 1961, all corporate and government deductors/collectors are required to file their TDS/TCS statements in electronic form, e-TDS/TCS returns.

Form 24Q is a quarterly TCS/TDS (Tax Collected at Source -TCS/Tax Deducted at Source -TDS) return to be submitted to the income tax department by the deductor. The form 24Q file for the first 3 quarters is the same. Form 24Q for quarter 4 is elaborate with the records of the employees' salary details. You can file the quarterly income tax returns for all the four quarters on time using this report.

Prerequisite Information

The following employer information is required before generating the Form 24Q report:

  • PAN and TAN numbers

  • Employer information

  • Employer representative information

  • Income tax challan information

  • Form 24Q receipt information

Use the India Deductee Challan Mapping schema to identify the employees to be included in the report. You can apply the parameters specified when submitting the Form 24Q process. The challan serial number and TAN retrieved along with the employee, is used to populate further details related to the legal employer and challan from the Income Tax Challan Information.

Run Form 24Q Report

  1. From the home page, navigate to My Client Groups > Payroll > Submit a Flow.

  2. Select the legislative data group.

  3. Select Run India Form24Q.

  4. In Payroll Flow, enter the name for the Form 24Q report to be generated.

  5. Select the Legal Employer from the dropdown.

  6. Select the Quarter for which the report is required, such as Q1(1st quarter), Q2 (2nd quarter), Q3 (3rd quarter) and Q4 (4th quarter).

  7. Select the Financial Year.

  8. Select the Report Type, which is Regular report.

  9. Submit the flow Run India Form24Q to generate the 24Q report in a text file format.