TDS Return on Salary and Other Payments (Form 24Q and Form 26Q)

✅ Services Covered:

🔗 Registration on TRACES: Complete the registration process.
📝 Form 24Q: Filing for up to 100 employees (1 no.).
📝 Form 26Q: Filing for up to 10 deductees (1 no.).
🧾 Bulk PAN Verification: Verify PAN details in bulk.
✅ Challan Verification: Ensure the accuracy of challans.
💻 Online FVU Generation and Submission: Handle file validation utility.
📄 Generation of Form 16 & 16A: Generate the required certificates.

🎯 Who Should Buy:

🧾 Any individual who is required to make a payment of salary or other specified payments and has to deduct TDS.
🏢 Any organization such as a corporate, partnership firm, etc., required to make salary or other specified payments after deduction of TDS.
🏢 Any branch of a principal business office.

📝 How it’s Done:

💳 Purchase the Plan: Choose our comprehensive package.
📄 Fill in the Details: Complete the template provided.
📤 Upload Documents: Upload required documents on the vault.
🧾 Return Form Preparation: Prepared by a Tax Expert.
📄 Generation of Form 16 & 16A: Generate the required certificates.

📄 Documents to be Submitted:

✅ Details of deductor
✅ Details of the responsible person
✅ Details of the deductee
✅ Challan details
✅ Deduction details

❓ FAQs:

❓ What is TDS in salary and other payments?

TDS, or Tax Deducted at Source, is a type of tax levied by the Indian government wherein taxes are collected on the basis of ‘pay as you get’. The taxes are deducted at the source of payments such as salary paid to an employee or other payments like commission earned by a broker. The taxes are deducted by the employer before making the payment to the employee and are deposited with the government. The employer later issues form 16 to its employees and form 16A to other deductees, serving as proof of tax payment in their hands.

❓ What is form 26Q?

Form 26Q is required to be submitted for TDS details on all payments other than salary on a quarterly basis by the deductor. Form 26Q is applicable for TDS deducted under section 200(3) of the Income Tax Act for TDS under sections 193 & 194, being interest on securities, dividend securities, professional fees, directors’ remuneration, etc.

❓ When is online return mandatory?

For certain people, it is compulsory to submit the quarterly return online. This includes:

A Government office
A company’s principal officer
An assessee who is required to have their accounts audited for the prior year under 44AB of the Income Tax Act, 1961
If there are 20 or more records of deductees in a statement for any quarter of a particular financial year

ProKhata Experts will guide you on the same.

❓ Is there any interest and penalty for non or late filing of Form 24Q & Form 26Q?

In case you have not deposited TDS by the due date, the following penalties are applicable:

Late filing fee (if you do not file by the deadline)
Interest (if you do not deposit the TDS amount in time)
Penalty (if TDS is not filed within one year of the due date)

For more details, you can visit ProKhata.

❓ I need to deduct TDS returns for more than 10 vendors. Can you advise?

Our plan caters to filing TDS returns for up to 100 employees and up to 10 deductees. If your firm has more than 100 employees or 10 deductees, our representatives will advise you on the fees. Please submit your enquiry here or write to us at [email protected].

❓ Do all deductors require to quote their PAN?

It is compulsory to quote the PAN for non-Government deductors, whereas in the case of Government deductors, “PANNOTREQD” has to be mentioned on the form.

❓ Is revised return covered under the plan?

Revised return filing on account of incorrect information provided by the assessee during the original return filing shall not form part of the plan.

TDS Return on Salary and other payments (Form 24Q and Form 26Q)