As per CBDTs Notification 36/2019, dated 12th Apr 2019 the format of TDS statement in Form No. 24Q, Annexure – II has been revised. The notification shall come into force w.e.f. 12th May 2019.

The revised Form 24Q, Annexure – II has brought certain changes with regard to the reporting of transactions while filing the TDS statements. It is therefore advised that due diligence may be exercised to ensure accurate TDS statement filing so as to avoid possible defaults / mismatch in TDS certificate (Form 16 – Part B) which shall be available for download from TRACES.

A. Important Information regarding revised Form No. 24Q Annexure-II.

Applicability of The Notification

As per “CBDTs Notification 36/2019”, dated 12th April, 2019 the format of TDS Statement in Form No. 24Q, Annexure-II has been revised. The Notification shall come into force w.e.f. 12th May’2019.

The Form 16 and 24Q have been amended to make them more elaborative and informative. The same has been done to bring the Forms in parity with latest changes made in ITR Forms such as disclosure of deductions and exemptions. This will ensure that Form 16 shall be in conformity with the IT return forms making it easy for the taxpayers to file their Income tax returns.

B. Changes/ New requirements in Form No. 24Q Annexure-ll

Revised Form 24Q seeks more details on salary paid or credited during the year. Also furnishing of Lender’s PAN is mandatory in the cases where housing loan is taken from a person other than a Bank/ Financial Institution/ Employer. New format requires the tax deductors to furnish following additional information-

1. Detailed break-up for exempt Income u/s 10–

a. Travel concession or assistance u/s 10(5)

b. Death-cum-retirement gratuity u/s 10(10)

c. Commuted value of Pension u/s 10(10A)

d. Cash equivalent of leave salary encashment u/s 10(10AA)

e. House rent allowance under u/s 10(13A)

f. PAN of landlord, if exemption is claimed u/s 10(13A)

g. Amount of any other exemption u/s10

2. Section-wise disclosure of deductions u/ Chapter VI-A (viz. Sec 80C, 80CCC, 80CCD (1), 80CCD (1B), 80CCD (2), 80D, 80E, 80G, 80TTA etc.)

3. Deductible limits will be applicable as per deductions under Chapter VI-A.

4. Rebate under section 87A (If Applicable)

5. Standard deduction u/s 16(ia) as introduced by Finance Act, 2018.

C. Column wise changes in Form No. 24Q Annexure-ll

As per Notification 36/2019, in Form No. 24Q, for “Annexure II”, the following “Annexure” shall be substituted, namely:–

Annexure II

Note:

New Columns introduced for reporting the following information:

  • Gross Salary as per provisions contained in section 17(1). (Column No. 335)
  • Value of perquisites under section 17(2). (Column No. 336)
  • Profits in lieu of salary under section 17(3) (Column No. 337)
  • For further details, CBDTs Circular No. 01/2019 dated 01/01/2019 may be referred.

Annexure II 1

Note: Columns introduced for reporting Incomes claimed as exempt u/s 10 :

  • Travel concession or assistance under section 10(5). (Column No. 340)
  • Death-cum-retirement gratuity under section 10(10) (Column No. 341)
  • Commuted value of pension under section 10(10A) (Column No. 342)
  • Cash equivalent of leave salary encashment under section 10 (10AA) (Column No. 343)
  • House rent allowance under section 10(13A) (Column No. 344)
  • PAN of landlord, if exemption is claimed u/s 10(13A) (Column No. 345)
  • Amount of any other exemption under section 10. (Column No. 346)
  • Total amount of exemption claimed under section 10 (340+341+3 42+343+34 4+346). (Column No. 347)

Annexure II 2

Note: Columns introduced for reporting:

  • PAN of lender, if interest on housing loan is claimed under section 24(b). ( Column No. 353)
  • Income under the head other sources offered for TDS as per section 192(2B). ( Column No. 354)

Columns introduced for reporting Deductions under Chapter VI-A :

  • Deduction in respect of life insurance premium, contributions to provident fund etc. (section 80C) ( Column No. 356)
  • Deduction in respect of contribution to certain pension funds (section 80CCC) ( Column No. 357)
  • Deduction in respect of contribution by taxpayer to notified pension scheme [section 80CCD(1) ( Column No. 358)

Annexure II 3

Note: Columns introduced for reporting Deductions under Chapter VI-A : (Contd.)

  • Deduction in respect of amount paid/deposited under notified pension scheme [section 80CCD(1B) ( Column No. 359)
  • Deduction in respect of contribution by employer to notified pension scheme [section 80CCCD(2) ( Column No. 360)
  • Deduction in respect of health insurance premium (section 80D) ( Column No. 361)
  • Deduction in respect of interest on loan taken for higher education (section 80E) ( Column No. 362)
  • Total deduction in respect of donations to certain funds, charitable institutions, etc. (section 80G) ( Column No. 363)
  • Deduction in respect of interest on deposits in savings account (section 80TTA) ( Column No. 364)
  • Total amount deductible under Chapter VI‐A (a+b+c+d+e+f+g+h+i+j) ( Column No. 366)

Annexure II 4

Note: Column introduced for reporting Rebate under section 87A, (if applicable) (Column no .369)

Notes:

1. Salary includes wages, annuity, pension, gratuity (other than exempted under section 10(10)), fees, commission, bonus, repayment of amount deposited under the Additional Emoluments (Compulsory Deposit) Act, 1974 (8 of 1974), perquisites, profits in lieu of or in addition to any salary or wages including payments made at or in connection with termination of employment, advance of salary, any payment received in respect of any period of leave not availed (other than exempted under section 10 (10AA)), any annual accretion to the balance of the account in a recognised provident fund chargeable to tax in accordance with rule 6 of Part A of the Fourth Schedule of the Income-tax Act, 1961, any sums deemed to be income received by the employee in accordance with sub‐rule (4) of rule 11 of Part A of the Fourth Schedule of the Income-tax Act, 1961, any contribution made by the Central Government to the account of the employee under a pension scheme referred to in section 80CCD or any other sums chargeable to income-tax under the head ‘Salaries’.

2. Where an employer deducts from the emoluments paid to an employee or pays on his behalf any contributions of that employee to any approved superannuation fund, all such deductions or payments should be included in the statement.

3. Permanent Account Number of landlord shall be mandatorily furnished where the aggregate rent paid during the previous year exceeds one lakh rupees.

4. Permanent Account Number of lender shall be mandatorily furnished where the housing loan, on which interest is paid, is taken from a person other than a Financial Institution or the Employer.”

Source- https://contents.tdscpc.gov.in

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25 Comments

  1. AJAY KUMAR SONI says:

    T_FV_6046 Invalid Section details mentioned for deduction under Chapter VI-A. For allowed values of deduction details under Chapter VI-A, refer the latest Form 24Q (Q4) TDS statement data structure avaialble at TIN website.
    plz solve it

  2. Abhinav Theegala says:

    Should amounts specified in Annexure 1 (like amount paid/ credited) for every quarter be matched with Annexure 2 of 24Q ?

  3. Muralidharan says:

    Sir, this is regarding the filling up of newly amended 24Q form (4thQ), where I can fill up the amount claimed for housing loan interest (self occupied home loan interest component), under 24b, I am unable to find any suitable column for fill up this amount; can any one help and guide me please?

  4. Akshansh says:

    19^C4 – Salary Correction^Travel concession or assistance [section 10(5)]^NA^1^T_FV_6100^No value to be provided under this field.

    This type of error is showing what to do

  5. Udayakumar says:

    T_FV_6046 Invalid Section details mentioned for deduction under Chapter VI-A. For allowed values of deduction details under Chapter VI-A, refer the latest Form 24Q (Q4) TDS statement data structure avaialble at TIN website.

    1. Sajeevkumar.G says:

      I think this happens when we run the file created using RPU_2.6, by RPU_2.7 some unnecessary value comes there in column No.17.THis can be solved by creating a fresh file using RPU_2.7 and pasting all the columns from the old file.Entries for 80C are to be furnished in columns 359 to 368.

  6. jaleel cp says:

    T_FV_6046 Invalid Section details mentioned for deduction under Chapter VI-A. For allowed values of deduction details under Chapter VI-A, refer the latest Form 24Q (Q4) TDS statement data structure avaialble at TIN website.

  7. RAGHAVAN BALAJI says:

    What is the last date for filing of TDS return -Salary(24Q)- for FY 2018-2019-Q4 as per notification dated 12th April 2019.

    Thanks

  8. CA Mahesh Kumar Gupta says:

    We have already filed 24Q on 10.05.2019 i.e. before the revised 24Q became effective. Do we need to file revised 24q.

  9. KISHOR says:

    I generated 24Q on 11-05-2019 (Saturday) and going to file on 13-05-2019 (Monday) with NSDL for FY 2018-19. I need to make any changes ?

  10. RAKESH KUMAR JAIN says:

    1. Does this post apply to tax payer or TDS deductor?
    2.Does it apply to FY 2018-19 or FY 2019-20?

    Kindly pardon me for my ignorance.

  11. DEEPAK says:

    WE FILE 24Q DATED 03-05-19 AND RETURN PROCESSED DATED 08-05-2019 WITH OLD FORMAT ANY CHANGES FOR US REGARDING THIS NEW AMENDMENT.

    1. BALAKRISHNAN SEKAR says:

      sir,
      New 24Q format is so elaborate. So one notification has been sent by IT dept. Filing of 24Q after 12.05.19 should be in new format. I hope

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