Salary definition expanded for TDS reporting, triggering revised Form 24Q annexure and quarterly disclosure requirements. Amendment to Form 24Q substitutes the serial entry on salary details, mandates Annexure I each quarter and Annexure II in the final quarter, and broadens the definition of salary to include wages, pension, gratuity (subject to exemptions), fees, commission, bonus, perquisites, termination payments, advance salary, leave encashment (subject to exemptions), taxable provident fund accretions, deemed Fourth Schedule income, and employer pension contributions. Note (5A) requires quarterly figures for salary and TDS. The new Annexure II prescribes itemised columns for employee identifiers, salary components, specified deductions, Chapter VI-A aggregations, taxable income, tax components, net tax payable, year aggregate TDS, and shortfall/excess in deduction.
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Salary definition expanded for TDS reporting, triggering revised Form 24Q annexure and quarterly disclosure requirements.
Amendment to Form 24Q substitutes the serial entry on salary details, mandates Annexure I each quarter and Annexure II in the final quarter, and broadens the definition of salary to include wages, pension, gratuity (subject to exemptions), fees, commission, bonus, perquisites, termination payments, advance salary, leave encashment (subject to exemptions), taxable provident fund accretions, deemed Fourth Schedule income, and employer pension contributions. Note (5A) requires quarterly figures for salary and TDS. The new Annexure II prescribes itemised columns for employee identifiers, salary components, specified deductions, Chapter VI-A aggregations, taxable income, tax components, net tax payable, year aggregate TDS, and shortfall/excess in deduction.
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