TDS Return for Salary in Form 24Q filing Q4 FY 2023-24 | 24Q TDS Return 4th quarter with Annexure II
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10 questions
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- Q1What is the primary purpose of Form 24Q?Filing annual income tax returnsReporting capital gainsQuarterly filing of TDS returns on salaryReporting business income30s
- Q2What does Annexure II in Form 24Q include?Foreign incomeCapital gains detailsBusiness expensesSalary details of employees30s
- Q3What is the first step in filing Form 24Q for the fourth quarter?Generating the FVU fileUploading bank statementsFilling out Form 16Submitting the tax payment30s
- Q4How is the FVU file uploaded to the TDS Reconciliation Analysis and Correction Enabling System (TRACES)?Through the TRACES portalVia emailBy mailing a hard copyUsing a USB drive30s
- Q5What should be done after uploading the FVU file to TRACES?Deleting the original fileGenerating a new FVU fileSharing the file with employeesVerifying the uploaded data30s
- Q6Why is it important to avoid common mistakes while filing TDS returns?To ensure accuracy and complianceTo reduce the tax liabilityTo avoid having to file quarterlyTo increase tax refunds30s
- Q7What type of income is reported in Form 24Q?Capital gainsSalary incomeRental incomeBusiness income30s
- Q8What is the final step in the TDS return filing process for Form 24Q?Sending notifications to employeesUpdating accounting softwareFiling GST returnsSubmitting the TDS return30s
- Q9Where can additional resources for TDS return filing be found?Personal finance blogsSocial media platformsLocal tax officeTRACES website30s
- Q10What is a key takeaway from the video regarding TDS return filing for salary?Only required for high-income earnersIt's optional for small businessesFiling annually is betterAccuracy and compliance are crucial30s