Form 24Q is a quarterly TDS statement filed by an employer or deductor for tax deducted from salary payments. It contains details of salary paid to employees and the Tax Deducted at Source (TDS) deducted and deposited during the applicable quarter.
Form 24Q is an important part of salary TDS compliance and payroll reporting. Employers use payroll and employee tax information to prepare the statement, which is submitted to the income-tax authorities through the prescribed reporting mechanism.
The statement generally includes information relating to the employer or deductor, employees, salary payments, TDS deductions, and relevant tax details. Employee information such as PAN, salary, taxable income, deductions, exemptions, and TDS may be required depending on the applicable reporting requirements.
In HRMS and payroll management, Form 24Q data can be generated or prepared from centralized payroll records. An HRMS can maintain employee master data, salary structures, monthly payroll, tax declarations, deductions, exemptions, TDS calculations, and financial-year records to support accurate quarterly TDS reporting.
Form 24Q is also closely connected with Form 16, as salary TDS information reported through the applicable quarterly TDS statements supports the tax certificate and employee tax records.
For organizations managing large or distributed workforces, an integrated HRMS can help reduce manual data entry, identify payroll-TDS discrepancies, maintain audit trails, and organize statutory reports across multiple locations and employee groups.
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