What is Form 24G?
Form 24G is basically an electronic document that must be filed when computing the income tax for the year. The government has made it mandatory for every citizen who falls within the tax bracket to file Form 24G through the Income-Tax Department Notification no. 41/2010.
Preparing Form 24G:
Form 24G is usually prepared by an accounts office based on the data structure approved by the DIT (Systems), Delhi. The form may be prepared by the assessing officer either by using a third party software, Form 24G Preparation Utility designed by NDSL, or via in-house facilities. Form 24G Preparation Utility designed by NDSL can be downloaded for free from www.tin-ndsl.com.
Contents of Form 24G:
Form 24G must contain the following details:
- Details of the Accounts Office/ District Treasury Office filing Form 24G (Accounts Office Identification Number, name, contact details, demographic information)
- Category of the Accounts Office (State / Central Government) plus details of state / ministry.
- Statement details (the month and year for which Form 24G is being filed)
- Payment summary, nature of deduction wise (Tax Deducted at Source – salary / Tax Deducted at Source – non-salary / Tax Deducted at Source non-salary non-resident / Tax Collected at Source)
- DDO wise payment details (Tax Deduction Account Number of DDO, demographic details, name, total tax deducted and remitted to the Government account (A.G / Pr CCA)
Due Diligence is practised when compiling Form 24G TDS, but inadvertent omissions and errors aren’t ruled out. The form must be filled out with all the required details if taxpayers are to gain some leeway on their payments.
How to get Form 24G Receipt Number?
A receipt number is a distinctive seven digit number produced for every single Form 24G statement that has been duly accepted at the TIN central system. The AIN will be allocated by the Directorate of Income Tax (Systems), Delhi, to each accounts office. The identification of every accounts office in the system is facilitated by this number.
Form 24G Preparation Utility:
Users are required to pass the Form 24G (Correction/Regular) file produced using Preparation Utility via the FVU (File Validation Utility) in order to guarantee the files level accuracy. Users are expected to rectify any errors that may be present in Form 24G, after which they must pass the corrected Form 24G via the FVU. The process must continue until the form is free of errors.
Form 24G Status:
Users can now check the status of Form 24G online from this NSDL government website tool, after which they will have to enter the AIN (Accounts Office Identification Number) and PRN (Provisional Receipt Number). After submitting these details, users will receive the status of Form 24G.
Frequently Asked Questions:
- Should the AIN be mentioned in Form 24G compulsorily?
Yes, the unique seven-digit AIN should be compulsorily mentioned in Form 24G.
- Once I have prepared Form 24G, how do I know whether the prescribed structure has been confirmed?
Once you have prepared Form 24G, the AO will verify it for you by using the FVU (File Validation Utility) which can be downloaded for free from www.tin-nsdl.com.
- Are there any charges associated when furnishing the form?
If the number of records is up to 100, the fee charged will be Rs. 38. Between 101 and 1000 records will be charged Rs. 178, and more than 1000 records will cost Rs. 578.50.