How to File Form 24Q?

TDS TDS Return Forms
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We’re almost in Mid-May! Already the time has begun for filing Form 24Q, If you’re an employer, you’ll need to file this form to report the TDS (Tax Deducted at Source) details of your employees for the last quarter of the FY 2022-23.

Filing Form 24Q is relatively little complex. So we decided to ease some pain by explaining the filing process in as simple manner as possible.

Just a heads up, the due date for filing Form 24Q for the quarter (January-March) is 31st May.

So, what exactly is Form 24Q? Well, it’s a quarterly TDS return that needs to be filed by every employer who deducts TDS from their employees’ salaries. This form contains details of the TDS deducted, the PAN of the deductor and deductee, and other relevant information.

The due date for depositing TDS is the 7th of the following month in which the deduction is made. For example, if TDS is deducted in the month of April, it should be deposited by the 7th of May. But only for the month of March, you can deposit till 30th April.

Form 24Q is required to be filed at the end of every quarter. Hence you need to file on the 31st of July, October, January, and May of a financial year.

How to File Form 24Q?

To online file a TDS return form 24Q, first, you need to download the RPU utility from NSDL and generate a txt. file.

To download RPU Utility:

  1. Go to the NSDL website
  2. Download the TDS RPU utility, from Download RPU version 4.5
  3. Select the Form 24Q, and click on continue
  4. Enter all the required. Form. Challans. Annexd. Annexure I Deductee details
  5. Click on create file to generate txt. file.

Now, you are required to download a CSI file from the e-Filing portal, where you deposited the TDS. The CSI file contains your challan details.

To download CSI file from e-Filing portal:

  1. Go to Home | Income Tax Department
  2. Login with TAN
  3. Navigate to e-File > e-Pay Tax
  4. Now, on dashboard, navigate to Challan Status Inquiry (CSI) File
  5. Select the period > Filter Challan

After generating a txt. file and CSI file, upload both on the FVU utility, and generate the FVU file

To download TDS FVU utility:

  1. Download the utility from e-TDS/TCS Return Preparation Utility (RPU)
  2. In FVU utility, you need to upload txt. file and CSI file > select the path for the generation of error report > validate

Then, the downloaded FVU file needs to be converted into a zip file.

Lastly, in order to file Form 24Q, the prepared zip file needs to be uploaded on the e-Filing portal.

To upload the FVU file on the e-Filing portal:

  1. Go to Home | Income Tax Department
  2. Log in with your TAN
  3. Navigate to e-File > Income Tax Forms > File Income Tax Forms
  4. Click on Let’s Get Started
  5. Select Form > Financial Year and Quarter > Upload type
  6. Upload TDS (.zip) File

Do these steps seem a little confusing? Then let’s go through a quick summary,

  • The process of filing Form 24Q requires downloading the RPU utility from the NSDL website and generating a txt file from it.
  • After generating the txt file, download a CSI file from the e-Filing portal and upload both (txt & CSI file) on the FVU utility.
  • Lastly, convert the FVU file into a zip file and upload it on the e-Filing portal to file Form 24Q.

It’s important to note that if you miss the due date for filing Form 24Q, you are subject to penalties. The penalty for late filing is Rs. 200 per day, up to a maximum of the amount of TDS deducted.
So, it’s best to file the form on time to avoid any unnecessary penalties.

Need help in Filing Form 24Q?
Quicko helps to easily file TDS Return (24Q) for Salary Payments (Quarterly).

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