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24q

Shivani (Learner) (1881 Points)

02 August 2014

please see the attachment

its a snapshot of 24Q as on RPU 4.0

i need to know that what is this column no. 17 "Amount paid/Credited"

24Q is salary TDS return

so which among following does this "Amount paid/Credit" connote:

(a) Estimated Annual Salary of employee on which we apply slab rate in order to compute TDS

(b) Salary Payable to employee for the month before deducting TDS but after deducting other deductions like EPF, ESI etc.

Please advise what does this "Amount Paid/Credit" mean?

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Shivani (Learner) (1881 Points)
Replied 02 August 2014

please see the attachment

its a snapshot of 24Q as on RPU 4.0

i need to know that what is this column no. 17 "Amount paid/Credited"

24Q is salary TDS return

so which among following does this "Amount paid/Credit" connote:

(a) Estimated Annual Salary of employee on which we apply slab rate in order to compute TDS

(b) Salary Payable to employee for the month before deducting TDS but after deducting other deductions like EPF, ESI etc.

Please advise what does this "Amount Paid/Credit" mean?

Attached File : 965365 1347133 untitled.zip downloaded: 555 times

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Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 03 August 2014

amt paid/credited means "gross salary" payable to an employee before any deduction.

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ANUBHAV VISHNOI (-) (150 Points)
Replied 03 August 2014

Hi Shivani,

Answer would be (a).

An employer estimates the total taxable income of employee after considering all the necessary deductions and calculate tax and accordingly deduct tax per month from the salary of the employee.

Even in form 24Q the column says about the amount on which tax is calculated.

But we may come accross the cases where total taxable income shown in Form 16 does not match with the tax computation.

But as far as your query is concerned the amount paid/credited would be that income on which tax has been calculated.

I hope this will help you.

Regards

Anubhav (8750089567)

Shivani (Learner) (1881 Points)
Replied 04 August 2014

Dear Anubhav

the answer given by tribhuvan is right.

i know 24Q it says amount on which tds is calculated.

But you see in 24Q if we give quarterly details, if here we give gross salary before any deduction amount for the quarter then in the last quarter we will have to give in annexure 2 teh total amount which will be the cumulative gross salary amount of all 4 quarters and that cumulative amount is the amount on which tds gets deducted.

i have no further doubts on this query.

ANUBHAV VISHNOI (-) (150 Points)
Replied 04 August 2014

Shivani right , i got your answer, I checked it again and it is gross salary.

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mahendran (J S) (22 Points)
Replied 13 August 2014

Originally posted by : Tribhuvan Aditya Singh
	amt paid/credited means "gross salary" payable to an employee before any deduction.

HELPFUL QUERY AND ANSWER

Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 13 August 2014

thnx all for supporting my answer.

mahendran (J S) (22 Points)
Replied 13 August 2014

Originally posted by : mahendran
	Originally posted by : Tribhuvan Aditya Singh amt paid/credited means "gross salary" payable to an employee before any deduction. HELPFUL QUERY AND ANSWER