What is Form 24Q?

Definition

Form 24Q is the statement of TDS on salaries that every employer deducting tax under Section 192 of the Income Tax Act is required to file on a quarterly basis under Section 200 of the Act, read with Rule 31A of the Income Tax Rules.

Form 24Q has two annexures. Annexure I contains details of salary paid and TDS deducted, deductee-wise, for the quarter. Annexure II is filed only with the fourth-quarter return (Q4) and contains the full salary, deductions and tax computation for each employee for the entire financial year. Part B of Form 16 is generated from Annexure II.

The return is filed electronically through the TIN-NSDL Protean facilitation centres or directly on the Income Tax e-filing portal, using the FVU (File Validation Utility) format.

How Form 24Q works

For each pay period the employer estimates the employee's annual income, computes tax under the chosen regime, and deducts proportionate TDS from monthly salary. The TDS is deposited with the government by the 7th of the following month (30 April for March deduction).

At the end of each quarter, the employer compiles the deductions into Form 24Q and files it:

• Q1 (Apr–Jun): due 31 July
• Q2 (Jul–Sep): due 31 October
• Q3 (Oct–Dec): due 31 January
• Q4 (Jan–Mar): due 31 May — filed with Annexure II

The return is validated through the FVU, signed with a digital signature where applicable, and submitted. Once processed by TRACES, employees can be issued Form 16 Part A directly downloaded from the portal.

Why it matters for Indian businesses

Form 24Q is the backbone of salary TDS compliance. Late or incorrect filing has real consequences — late filing fees of ₹200 per day under Section 234E (capped at the TDS amount), penalty under Section 271H of ₹10,000 to ₹1,00,000 for non-filing, and possible disallowance of expenditure for the employer.

Beyond penalties, accurate 24Q filing is what makes Form 16 generation possible. Errors in 24Q — wrong PAN, wrong challan reference, mismatched TDS amount — show up later as TRACES defaults and Form 26AS mismatches for employees, which creates support load and damages trust.

Related terms

Form 24Q vs Form 26Q: Form 24Q reports TDS on salary payments; Form 26Q reports TDS on non-salary payments such as professional fees, rent, interest and contractor payments. Most companies file both.

Form 24Q vs Form 16: Form 24Q is the employer's quarterly return to the government. Form 16 is the annual certificate issued by the employer to each employee, generated from the same underlying data.

Form 24Q vs Form 27Q: Form 27Q reports TDS on payments to non-residents (other than salary). Indian employers paying NRI employees on Indian payroll still use 24Q.

Frequently asked questions

Who is required to file Form 24Q?

Every person responsible for deducting TDS on salary under Section 192 — typically the employer — must file Form 24Q each quarter, regardless of the size of the organisation.

What is the due date for Form 24Q?

Q1 by 31 July, Q2 by 31 October, Q3 by 31 January and Q4 by 31 May. Q4 also carries Annexure II with full-year salary details.

What is the penalty for late filing of Form 24Q?

A late filing fee of ₹200 per day under Section 234E, capped at the TDS amount, plus a possible penalty of ₹10,000 to ₹1,00,000 under Section 271H for significant delays or incorrect filings.

Can I revise a Form 24Q after filing?

Yes. Correction statements can be filed via TRACES to fix PAN errors, challan references, salary or deduction amounts. Frequent revisions, however, attract scrutiny and rework on Form 16s already issued.

Is Form 24Q the same under the new tax regime?

The form is the same; the computation in Annexure II reflects whichever regime the employee opted for with the employer at the start of the year.

How does an HRMS automate Form 24Q?

A compliance-ready HRMS like Texlaculture maintains employee PAN, salary, deductions and challan information continuously. At quarter-end it generates the FVU file, validates it and produces ready-to-upload outputs — turning a multi-day spreadsheet exercise into a single review step.