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Generate Form 24Q

Updated inΒ February- 2024 |Β Subscribe to watch greytHR how-to video

Generating Form 24Q is important for an organization to comply with Indian tax laws and regulations related to employee taxes and deductions. The form provides details of tax deducted at source (TDS) from employee salaries and submitted to the Income Tax Department.

Accurate and timely submission of Form 24Q can help you to avoid penalties and legal issues and ensure compliance with tax laws. It also helps your employees to accurately file their tax returns.

The Form 24Q page in the greytHR Admin portal helps you to generate Form 24Q in a simplified way. The page displays the four quarters of the current financial year. You must file deductor details, challan details, and Annexure-I details in the first three quarters. For the last quarter of the financial year, you must additionally file Annexure-II, which contains employee salary details.

To view Form 24Q page, click Payroll > Admin > Form 24Q.

You must perform the following steps to generate Form 24Q:

  1. Set the Form 24Q parameters.

  2. Add new challan.

  3. View challans.Β 

  4. Allocate the challans.

  5. Generate CSI file.

  6. Generate FVU.

Set the Form 24Q parameters

To set the Form 24Q parameters, perform the following actions:

  1. On the Form 24Q page, click the Settings icon next to the Challans button. The Form 24Q Settings page opens.

  2. Under the Particulars of Return section, from the Type Of Deductor dropdown list, select the deductor type.

  3. From the Payment Section Code dropdown list, select the required option.

  4. Under the Particulars of Deductor (Employer) section, fill in the employer details.Β 

  5. Under the Particulars of the Person Responsible for Deduction of Tax section, fill in the employee details.

  6. Under the preferences, select the required checkbox from the given list.

  7. Click Save to update the changes.
    Note: You can also set the parameters of Form 24Q by navigating to the Settings icon > System Settings > Income Tax > Form 24Q.

Add a new challan

To add a new challan, perform the following actions:

  1. On the Form 24Q page, click the Challans button. The Challans page opens.

  2. Click Add Challan. The form appears.

  3. From the Payroll Month dropdown list, select the required month.

  4. In the Total Challan Amount text box, enter the amount of challan.

  5. In the Challan Serial No text box, enter the challan serial number.

  6. Fill in the rest of the details.

  7. Click Save to add a new challan in the greytHR application.

View challan

To view a challan, click the relevant quarter on the Form 24Q page. The card expands and displays the created challans. You can also update the challan details by clicking the Update Challan Details button.

Allocate the challan

To allocate the challan, perform the following actions:

  1. On the Form 24Q page, click the Challans button.

  2. From the year dropdown list, select the financial year. The challan appears and displays, Month, Regular TDS, Direct TDS, Total, and Challan Details.

  3. Select the quarter card and click challan month. The challan details expand and display the list of employees.

  4. Click Allocate button. The Allocate Challan Map pop-up appears.

  5. Click Confirm to allocate the challan to the employees.
    Note: You can edit/delete the challan details from this page. You can also download the challan details in excel format.

Generate CSI fileΒ 

Before performing further actions, you have to generate the CSI file. You must download the CSI file from the e-Filing website. The e-Filing website provides the Tax Information Network of the Income Tax Department.
To generate a CSI file, perform the following actions:

  1. On the e-Filing portal Home page, click the Login button. The Login page appears.Β 

  2. In the Enter your User ID textbox, enter your TAN number and password to proceed further.Β 

  3. On the Dashboard, from the e-file dropdown menu, click the E-Pay Tax option. The E-Pay Tax page appears.Β 

  4. Click the Payment History tab. A list of all the payments made by the TAN user appears.Β 

  5. Click the Filter icon. The Filter by pop-up appears.Β 

  6. From the Payment Date From and To dropdown calendars, select the date range of the payment.
    Note:Β 

    1. You can only download the CSI file by filtering challans paid during a specific period and the period must not exceed 24 months.

    2. You cannot download the CSI file by filtering the challans based on Assessment Year and Type of Payment.Β 

  7. Click Filter to apply the selected date range. The Download Challan File option gets enabled at the bottom left corner of the page.
    Note: Click Reset to modify the selected date range.

  8. Click the Download Challan File/Click here option to download the file. The file downloads successfully.

Generate FVU

To generate FVU, perform the following actions:

  1. On the Form 24Q page, click the relevant quarter. The card expands and displays the created challans.

  2. Click the Generate FVU. The Checklist before you generate Form 24Q pop-up appears.

  3. In the pop-up, click Upload file to upload the downloaded CSI file. The dialog box appears.

  4. In your system, browse to the folder, select the file, and click Open to upload the file.

  5. In the pop-up, click Ok, Generate FVU to generate the FVU.
    Note: In the last quarter of the financial year, you must also file the salary Annexure-II along with Form 24Q. This is to ensure that there is no mismatch in the Income Tax deducted from the employees and the tax paid on your employees' behalf.

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