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(b) for Form No.24Q, the following Form shall be substituted, namely : Form No. 24Q See section 192 and rule 31A Quarterly Statement of deduction of tax under sub?section (3) of section 200 of the

How to fill out quotform no 24q 1

How to fill out form no 24Q 1:

1. Start by obtaining the form: Form no 24Q 1 can be obtained from the official website of the Income Tax Department or by visiting the local Income Tax office.
2. Fill in the personal details: Begin by providing your name, address, PAN (Permanent Account Number), and other required personal information in the designated fields on the form.
3. Specify the quarter and assessment year: Indicate the relevant quarter for which the form is being filled, along with the respective assessment year.
4. Mention the employer details: Provide the details of your employer, including their name, address, and PAN.
5. Filling in salary details: Enter all the relevant salary details such as basic salary, allowances, deductions, and any other income earned. Ensure accuracy and double-check for any discrepancies.
6. Deductions and exemptions: Declare any deductions, exemptions, or relief that you are eligible for, such as HRA (House Rent Allowance) or LTA (Leave Travel Allowance). Provide the necessary supporting documents if required.
7. Enter TDS information: Provide details of any TDS (Tax Deducted at Source) deducted by your employer. This includes the TAN (Tax Deduction and Collection Account Number) and TDS certificate number.
8. Verification: Finally, read the declaration carefully, verify the information provided, and sign the form in the appropriate section.

Who needs form no 24Q 1:

1. Employers: Form no 24Q 1 is primarily required by employers to report the salaries paid and taxes deducted from their employees' income.
2. Employees: Employees also need form no 24Q 1 for their own records and to ensure accurate reporting of their income and taxes paid.
3. Income Tax Department: The Income Tax Department uses this form to track and verify the income, taxes, and deductions reported by both employers and employees.

For pdfFiller’s FAQs

What is quotform no 24q 1?

Form 24Q is a TDS Return form which is filed to report the Tax Deducted at Source (TDS) on salaries. Form 24Q 1 is specifically used to report details of TDS deducted on salary payments where the deductee is a resident individual.

Who is required to file quotform no 24q 1?

Employers or entities making salary payments are required to file Form 24Q 1 if TDS has been deducted on such payments.

How to fill out quotform no 24q 1?

Form 24Q 1 can be filled out by providing details of the deductor, deductee, nature of payment, TDS amount deducted, challan details, etc. The form should be submitted online in the prescribed format.

What is the purpose of quotform no 24q 1?

The purpose of Form 24Q 1 is to report TDS deducted on salary payments made to resident individuals and to provide this information to the Income Tax Department.

What information must be reported on quotform no 24q 1?

Information such as PAN details of deductor and deductee, salary amount, TDS amount deducted, challan details, and other relevant information must be reported on Form 24Q 1.

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