Tax Deducted at Source (TDS) is a system under the Income Tax Act, 1961, where tax is deducted at the time of making specified payments such as salary, interest, rent, or professional fees. After deducting TDS, it is mandatory for the deductor to TDS Returns Filing, providing details of tax deducted and deposited with the… Continue reading Step-by-Step TDS Returns Filing: Forms 24Q, 26Q, 27Q & Penalties Explained
1. What Is Form 24Q? Form 24Q is the TDS return specifically for salary payments. Every employer who deducts TDS from employee salaries under Section 192 must file Form 24Q every quarter. It contains: Employee salary details TDS deductions PAN details Proof of tax deposited Deductions under Chapter VI-A Exemptions under Section 10 The fourth… Continue reading Essential Guide to Salary TDS Returns Filing and Form 24Q Requirements
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