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Etds - 24Q

Asha Vaishnava (Manager - Finance & Accounts) (290 Points)

24 July 2021

Dear Sir/Madam,

in 1st quarter we have few employees who are currently not taxable but in next quarter they will have tax deduction.

how to file 24Q for 1st quarter with no TDs deposit? I tried but it's throwing error code as T-FV-4320 invalid value under remarks field - allowed values are A B S Y T R Z N. where as for 24Q it showes only A B C. which are not applicable. how to file return ? year end part A and part B of Form 16 also has to match.

department were unable to guide on this

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7 Replies

Anoop srivastava (223 Points)
Replied 24 July 2021

If Tax is not deducted then no return is required to be filed for salary

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CMA Poornima Madhava (CMA) (13112 Points)
Replied 24 July 2021

Nil TDS return is not compulsory. You may find q2 return in this case

Asha Vaishnava (Manager - Finance & Accounts) (290 Points)
Replied 24 July 2021

Ok then how will part A and B of form 16 match in year end ?

CMA Poornima Madhava (CMA) (13112 Points)
Replied 24 July 2021

Form 16 would be a single form for the entire year (unlike form 16A which is quarter-wise). You will be able to generate form 16 after filing Q4 return.

Asha Vaishnava (Manager - Finance & Accounts) (290 Points)
Replied 24 July 2021

Yes.. it's generated year end... but in part A it reflects quarterly what is filed . that gross and to match with part b

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CMA Poornima Madhava (CMA) (13112 Points)
Replied 24 July 2021

Oh got it. In this case, you include the salary of Q1 with Q2 to arrive at the tax liability right? So this would take care of it. Also let me know on what basis you say, no TDS for Q1 but applicable from Q2 onwards?