How To Correction 24Q Full Details in English (Salaries Person).

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List of TDS (Tax Deducted at Source) Deductors

  • Individuals
  • Body of Individuals
  • Association of Individuals
  • Partnership Firms
  • Hindu Undivided Family
  • Limited Companies
  • Local Authorities





Introduction:


Filing Form 24Q is crucial for employers to report salary payments and tax deductions made to employees to the Income Tax Department. This comprehensive guide provides step-by-step instructions on how to file Form 24Q accurately, ensuring compliance with tax regulations.


Step 1: Log in to the TRACES Portal

Access the TRACES (TDS Reconciliation Analysis and Correction Enabling System) portal using your login credentials provided by the Income Tax Department.


Step 2: Request for Form 24Q

Navigate to the "Downloads" section and select "Request for Form 24Q." Enter the relevant details such as the financial year, quarter, and form type (regular or correction).


Step 3: Download Form 24Q Template

Download the Form 24Q template along with annexures for salary details, deductions, and employer information.


Step 4: Fill in Employee Details

Enter employee information including PAN, name, address, salary breakup, tax deductions, and exemptions in the respective annexures of the Form 24Q template.


Step 5: Verify and Validate Data

Thoroughly review the filled-in details for accuracy and completeness. Validate the data to ensure there are no errors or discrepancies.


Step 6: Generate Text File

Once the data is verified, generate the text file by clicking on the "Generate" button. This file contains the necessary information required for filing Form 24Q.


Step 7: Upload Form 24Q Online

Return to the TRACES portal and navigate to the "Upload Form 24Q" section. Upload the generated text file containing employee salary and deduction details.


Step 8: Receive Acknowledgment and Make Payment

Upon successful submission, you will receive an acknowledgment with a unique token number. Make the applicable tax payment through net banking or challan and retain the acknowledgment for future reference.


Conclusion:

Filing Form 24Q accurately and timely is imperative for employers to comply with tax regulations and avoid penalties. By following this step-by-step guide, employers can seamlessly file Form 24Q for salary personnel, contributing to efficient tax administration.

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