for no 24q-tds
This query is : Resolved
14 July 2016
Quater-4 form 24q.
amount of provident fund is included or not in column no. 337. (annual salary)
25 July 2024
For Quarter 4 (Q4) Form 24Q for TDS (Tax Deducted at Source), the amount of Provident Fund (PF) contributions should not be included in Column No. 337 (Annual Salary) of the form. Here’s why:
1. **Nature of Column No. 337 (Annual Salary)**:
- Column No. 337 in Form 24Q is meant to capture the annual salary of the employee. This typically includes the gross salary, allowances, and other payments made to the employee during the financial year.
2. **Exclusion of Provident Fund Contributions**:
- Provident Fund contributions made by the employer on behalf of the employee are not considered part of the employee’s salary for TDS purposes. These contributions are statutory deductions and are not taxable as salary income in the hands of the employee.
3. **Where to Report Provident Fund Contributions**:
- Provident Fund contributions made by the employer should be reported separately in the relevant columns meant for deductions under Section 80C of the Income Tax Act, if applicable.
4. **Correct Reporting in Form 24Q**:
- In Form 24Q, ensure that the amount reported in Column No. 337 reflects only the salary components that are taxable in the hands of the employee. This typically excludes Provident Fund contributions.
### Summary:
- **Column No. 337** in Form 24Q should include the annual salary of the employee, excluding Provident Fund contributions.
- Provident Fund contributions made by the employer should be reported separately in the relevant deduction sections of Form 24Q.
It’s important to ensure accurate reporting to comply with TDS regulations. If you have specific doubts or variations in your case, consulting a tax professional or referring to the latest guidelines from the Income Tax Department would be advisable.
1. **Nature of Column No. 337 (Annual Salary)**:
- Column No. 337 in Form 24Q is meant to capture the annual salary of the employee. This typically includes the gross salary, allowances, and other payments made to the employee during the financial year.
2. **Exclusion of Provident Fund Contributions**:
- Provident Fund contributions made by the employer on behalf of the employee are not considered part of the employee’s salary for TDS purposes. These contributions are statutory deductions and are not taxable as salary income in the hands of the employee.
3. **Where to Report Provident Fund Contributions**:
- Provident Fund contributions made by the employer should be reported separately in the relevant columns meant for deductions under Section 80C of the Income Tax Act, if applicable.
4. **Correct Reporting in Form 24Q**:
- In Form 24Q, ensure that the amount reported in Column No. 337 reflects only the salary components that are taxable in the hands of the employee. This typically excludes Provident Fund contributions.
### Summary:
- **Column No. 337** in Form 24Q should include the annual salary of the employee, excluding Provident Fund contributions.
- Provident Fund contributions made by the employer should be reported separately in the relevant deduction sections of Form 24Q.
It’s important to ensure accurate reporting to comply with TDS regulations. If you have specific doubts or variations in your case, consulting a tax professional or referring to the latest guidelines from the Income Tax Department would be advisable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Transport service POS
- GSTR 9C- Table 9
- E INVOICE, E-WAY, INVOICE
- To Whom the Invoice should be Raise to
- INCOME TAX NOTICE QUESTION
- PLACE OF SUPPLY FOR COMMISSION AGENT
- Need Converson process of CA Propreiotary firm to CA Partnership Firm
- Capital gain on sale of resident house by non-resident Indian
- When was the effective CA partnership deed? Can I use old FRN until new FRN alloted by ICAI?
- Form 104 stamp paper deed
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- Revision under Section 264 in The Income Tax Act, 1961
- TDS under section 195.
- Filing GST Returns after death of proprietor
- Registered Required in GST Act
Trending Online Classes
-
Live Course on GSTR 9 & 9C for FY 24-25(Detailed discussions, FAQ, Case studies and Live demo of GSTR 9/9C on GST Portal)
Industry Expert16 November 2025
CAclubindia
