Taxable amount on which tax deducted

Dear All,

I have on query regarding column No.318 in Form No.24Q , Annexure I (Taxable amount on which tax deducted). In this column which amount to be entered.

Whether it is monthly gross salay or Taxable salay ?

( Taxable salary means Gross Salay minus Standard deductions, HRA & Other Investment deductions)

Normally we worked out TDS of particular employee on his estimate income for the whole year e.g (Gross salary x 12 months less: standard deductions , other investment ded.)

Also we have to put the taxable salary for each month for monthly payment of TDS  challan

Please suggest how to go about it.

 

 

Replies (1)

As of now there is no verification of quaterly return data with reg to salary with "salary sheet" gross salary shown in 24Q4 return

 

As a general practice gross salary before dedns need be shown in quarterly 24Q returns and entire particulars vis a vis deductions and others' will be taken care in Salary Sheet of 24Q4 return

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