Form 24Q filed for the last quarter (January to March) of a fiscal year must include data in Schedule I and Schedule II (however, Form 24Q for the first 3 quarters contains only data in Schedule I and Schedule II remains empty). Data from Schedule I of Form 24Q (last quarter) are included in Part A of Form 16, while Data from Schedule II include the total salary paid, tax exemptions/deductions claimed and the SST for the year. The data in Appendix II is what the Income Tax Service takes into account when reviewing the annual tax payable on an employee`s salary. In addition, the data set out in Annex II should be consistent with the information on wages, exemption and SDS in Part B of Form 16 issued to workers. The new amendments to Form 16 – Part B have been notified by the Income Tax Division. We have updated the following section in accordance with the changes that have applied to Form 16, Part B, since fiscal year 2018-19. Read here to learn more. Hello, in my Form 16, part of an amount credited is greater than the gross income of part b, it`s OK. Sir, do I need to change the “Income under salary” column sch TDS 1 in the tax details tab? because the amount of tax paid/credited part A is higher than the gross salary according to part B. I received this msg of notification at 90%.
Any employer who deducts payroll taxes must file what is known as Form 24Q, the quarterly statement that includes the salary paid to an employee and the tax deducted/transferred for each employee each quarter. Schedule I of Form 24Q contains the least detailed information on the salary paid (in the column entitled “Amount paid or credited”) and the tax deducted for each employee (in the column entitled “Total TDS (sum of columns 321 and 322)”). I wonder what makes you believe that every agency in the central government will heed our words. Therefore, “Income below wages” in “Tax Details” should be retained or amended in accordance with Part A of Form 16, as Part B of Form 16 of Form 16 of Form 16 is a certificate in which the employer certifies the employee`s salary details and the TDS deduction during the year. Form 16 is issued once per fiscal year, no later than May 31 of the following year, immediately after the fiscal year in which the tax is deducted. It consists of two parts, Part A and Part B: The employer has not yet issued Form 16. Although I said the same thing to the accountant, I don`t have much hope. The problem is that in Form 16 Part A they only mentioned Q1 Q2 Q3 with payment of 4.5 lac and TDS of 3.5k and in Part B my total salary is 6 lac, which includes my F&F paid on April 19 in the reporting program, there is another tab called “Tax Details” where the department presents the salary and tax details according to Part A of Form 16. My employer indicated 13 months` salary on Form 16, including april 18 and March 19 wages.
But I paid taxes including April 18 of last year based on the bank statement. So I can fill out the tax return again this year on the basis of the account statement. Well, what to do the return filed with a changing income of 80 out of 100 or a deduction needs to be revised???? Sir, in my Form 16 for the 2019-2020 fiscal year, the employer reported the same amount of wages in Parts A and B. However, no tax was deducted in the first quarter, so the employer reported the salary of only 11 months to the IT department. Ideally, the 12-month salary should have been available in Part B. What should I do now? Thank you. When filing the company`s Form 24Q, an employee received the salary in the previous 3 quarters and, as a result, TDS was also deducted. However, in the last quarter, his salary turned negative, making the total salary zero. now, the employee`s Part A and Part B do not match. When I try to correct the performance of previous quarters and try to set the salary to zero, the error comes: “The amount paid cannot be less than the tax deducted.” How to correct this error According to the income tax department, an employee does not have to appear on Form 24Q until there is a tax deduction. However, once there is a tax deduction for an employee, the employee should be entered on Form 24Q for the quarter in which the tax deduction takes place and should continue to appear on Form 24Q until the last quarter.
For example, if an employee does not have a tax deduction during the months of April, May and June, the employer does not need to report the employee on Schedule I of form 24Q for the first quarter. If the employee has a tax deduction in June, the employer must report the employee on Form 24Q for the second, third and fourth quarters – even if the employee does not have a tax deduction after June until the end of the year. The Income Tax Service filed a new format, consisting of Part A and Part B, for Form 16 in 2013. As you know, Part A comes from the TRACES website, while Part B is created by the employer. You can find the salary and tax details in Parts A and B. Even after 2 years since the introduction of the new format, we find that many payroll managers are not clear based on the payroll figures in Parts A and B of Form 16. Our software automatically takes all the relevant information from your Form 16 and creates your tax return. You don`t have to enter anything manually. I have a situation. So my employer deducted a total of ₹62,729/- as TDS for F.Y 19-20. This is the exact amount shown on Form 16 Part A and Traces 26AS.
However, in Form 16, Part B, they only reported the withholding tax as ₹30100/-. I do not understand your question. In particular, what do you mean by “my employer never corrected and gave me the right thing for 16 years”? Please note that if your return does not include the information provided on your Form 16, you will likely receive a request from the Income Tax Service. If the employee misplaced the employer-issued copy of Form 16, how can the copy of Form 16 be traced for YY 2016-17? Employers also do not have a copy This Form 16 is a certificate in which the employer certifies details of the salary you earned during the year and the amount that TDS was deducted. It consists of two parts – part A and part B. What is this category? Responsible for the income/schedule, under which the tax return appears? Please give an example of what to fill in this category? The Income Tax Service has stated that the total amount of salary in Schedule I (Part A of the Salary Number) of the 4 Forms 24Q in a year does not necessarily have to correspond to the total amount of salary specified in Schedule II (Part B Salary Number) of the fourth quarterly Form 24Q. .