The form 24G is an electronic document used for income tax filing purposes. This document is filed while we calculate the income tax for the current financial year. It is mandatory for citizens who fall under the tax bracket to file the Form 24G from the income tax department under notification number 41/2010.
The accounts office prepares this form on the data structure approved by DIT Systems in Delhi. The accessing officer may use third-party software or a form 24G preparation utility designed by NDSL or in-house functions to prepare the form. One can download the 24G form Preparation Utility developed by NDSL for free from www.tin-ndsl.com.
It contains the details about the accounts office or the district treasury office filing form 24G. The details include Accounts office identification number, contact information, name, demographic information, etc.
It has the category of accounts office mentioned whether central or state govt. Along with details of the state or ministry.
Contains statement details, i.e., month and year for which the Form 24G is filed.
Summary of the payment and nature of deduction. (TDS – salary / TDS – non-salary/ TDS of non-salaried non-resident/ TDS)
DDO payment details like DDO tax deduction account number, demographic information, name, total deducted tax and remittance to the government account.
Compilation of Form 24G TDS undergoes thorough diligence to evade errors and omissions. The form should have all the necessary details if the taxpayers want to benefit some leeway on what they pay.
The receipt number of form 24G is a 7-digit number which is produced after every 24G form accepted by the TIN central system. The Directorate of Income-tax, Delhi allocates the AIN to every accounts office. This number further facilitates this identification to all the accounts office in the system.
In order to guarantee the accuracy of submission of the files, the users pass Form 24G (corrected/regular) using FVU, File validation utility. The users should thoroughly check and rectify errors if any and pass the form through FVU. The process goes on until all errors are corrected.