Simplify Process of eTDS Returns

eTDS – Generating Form 24Q – using greytHR!

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A Warm Welcome to One and All!

(C) Greytip Software Pvt. Ltd.,

What is TDS


The word TDS stands for Tax Deducted at Source.

“As per the Income Tax Act – persons responsible for making payments are required to deduct tax at source at prescribed rates.”

“TDS is deducted at the time of payment in cash or cheque or credit to the payee’s account whichever happens earlier.”

eTDS

What is e-TDS?

“Companies making payments should also furnish TDS returns containing details of deductee(s) and challan details relating to deposit of tax to IT Department.

It is mandatory to furnish TDS returns in electronic form (eTDS return)”

Who are liable to submit e-TDS Return/Statement?

“The person who deducts TDS is liable to furnish eTDS Return. It is mandatory to file TDS Return within time as given below;

otherwise they are liable to pay penalty for non-submitting of e-TDS Return. “


Form 24Q and 27A

24Q

Form 24Q has details of salary paid and TDS deducted from employees.

Form 24Q for TDS deducted on salary (under section 192) is required to be submitted on a quarterly basis by the deductor

27A

Is submitted along with Quarterly TDS Returns in Form 24Q with particulars of deductor and aggregate amounts of Total Tax Deducted and total tax deposited


Form 24Q – Generation Manually


Want to see the Magic? Here You Go!


Log Into GreytHR!


Select Payroll From Menu


Lock the Payroll – For Particular Quarter


Now Go to Actions


Enter – 24Q in the Search Box


Form 24Q – Home Screen


Updating / Add the Challan Details


Adding Challans


Filling up the challan Details


Select the Challan and Allocate to Employees


Allocating the Challan Amount to Employees


Challan amount Reflected in the 24Q Home Screen


Generate FVU


GreytHR – Generating FVU File


Form 24Q – Generated Output


Want to Know what is that error? Select Error Report… (tailor made feature for you!)


Incase of Errors!

Error Report - Usage


Now in-case of Excess Amount Paid?


Successfully Adjusted


Value Added Tips – from greytHR

How to Register with NSDL for eTDS

How to Upload FVU File

Doing Revised Returns for Form 24Q


Register the TAN and DSC of deductor at NSDL


Uploading your Generated FVU

Step 1: Login to TIN Central System – by signing DSC

Step 2: Select Upload option from the “TDS” section

Step 3: Get the Reference Number / Receipt Number / Provisional Number


Doing Revised Returns / Revision in 24Q

• Make the Necessary Changes in greytHR

• Select the Quarter

• Click - 'Form 24Q Revision'

• Upload Consolidated TDS (CTDS) for the quarter

• greytHR intelligence system will automatically categorize and display corrections under C1, C2, C3 etc.

• refer docs for step by step explanation of the process


http://docs.greytip.in/pages/viewpage.action?pageId=7800772

Thank You!

From your beloved,

greytHR Family!


Simplify Process of eTDS Returns

Self Improvement

collection of tax

tax calculated

qquarterly statement

income tax portal

income tax department

c of income tax act

fvu file

source tds