SlideShare a Scribd company logo
Form 24Q Revision – using greytHR!
Online-Training
(C) Greytip Software Pvt. Ltd.,
What is TDS
(C) Greytip Software Pvt. Ltd.,
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. “
(C) Greytip Software Pvt. Ltd.,
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
(C) Greytip Software Pvt. Ltd.,
Why Form 24Q Revision is Required and What
is CTDS
24Q - Revision
In case there are any additions/updates to be made to the details of the regular
statement which is already accepted at the TIN central system, the same should be
done by furnishing a correction statement.
CTDS (Consolidated - TDS)
Available in Traces ; For any update in the quarterly TDS / TCS statement, a
correction statement is furnished by the deductor / collector.
(C) Greytip Software Pvt. Ltd.,
Form 24Q Pains–Manual Revision
(C) Greytip Software Pvt. Ltd.,
Just in 3 steps Do Your Form 24Q Revision Using
greytHR
Want to see the Magic? Here You Go!
(C) Greytip Software Pvt. Ltd.,
Steps required to do Form 24Q Revision using greytHR
• Step 1: Upload your CTDS
• Step 2: Generate the Correction Statement
• Step 3: Generate Your Form 24Q Revised – FVU - using greytHR
(C) Greytip Software Pvt. Ltd.,
Log Into GreytHR!
(C) Greytip Software Pvt. Ltd.,
Select Payroll From Menu
(C) Greytip Software Pvt. Ltd.,
Lock the Payroll – For Particular Quarter
(C) Greytip Software Pvt. Ltd.,
Now Go to Actions
(C) Greytip Software Pvt. Ltd.,
Enter – 24Q in the Search Box
(C) Greytip Software Pvt. Ltd.,
Form 24Q – Home Screen
(C) Greytip Software Pvt. Ltd.,
Select the Particular Quarter – 24Q Revision
(C) Greytip Software Pvt. Ltd.,
Step 1: Upload Your CTDS
(C) Greytip Software Pvt. Ltd.,
Click Next post Uploading your CTDS
(C) Greytip Software Pvt. Ltd.,
Step 2: Generate the Correction Statement
(C) Greytip Software Pvt. Ltd.,
Corrections Details
(C) Greytip Software Pvt. Ltd.,
Step 3: GreytHR – Generating FVU File
(C) Greytip Software Pvt. Ltd.,
Revised Form 24Q – Generated Output
(C) Greytip Software Pvt. Ltd.,
Want to Know what is that error? Select Error
Report… (tailor made feature for you!)
(C) Greytip Software Pvt. Ltd.,
Incase of Errors!
Error Report - Usage
(C) Greytip Software Pvt. Ltd.,
What are the Different Types of Corrections that I can
make?
• C1- Update deductor details (Name and Address)
• C2 - Update challan details
• C3 - Update/delete /add deductee details.
• C4 - Add / delete salary detail records.
• C5 - Update PAN of the deductee or employee
• C9 - Add a new challan and underlying deductees.
(C) Greytip Software Pvt. Ltd.,
Your Feedback Makes Us Serve
You Better!!!
Please Share your feedback about the session at :
Webinar@greytip.com
(C) Greytip Software Pvt. Ltd.,
Thank You! and Wish you a Happy New Financial
Year!
(C) Greytip Software Pvt. Ltd.,

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Form 24 q revision using greytHR

  • 1. Form 24Q Revision – using greytHR! Online-Training (C) Greytip Software Pvt. Ltd.,
  • 2. What is TDS (C) Greytip Software Pvt. Ltd., 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.”
  • 3. 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. “ (C) Greytip Software Pvt. Ltd.,
  • 4. 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 (C) Greytip Software Pvt. Ltd.,
  • 5. Why Form 24Q Revision is Required and What is CTDS 24Q - Revision In case there are any additions/updates to be made to the details of the regular statement which is already accepted at the TIN central system, the same should be done by furnishing a correction statement. CTDS (Consolidated - TDS) Available in Traces ; For any update in the quarterly TDS / TCS statement, a correction statement is furnished by the deductor / collector. (C) Greytip Software Pvt. Ltd.,
  • 6. Form 24Q Pains–Manual Revision (C) Greytip Software Pvt. Ltd.,
  • 7. Just in 3 steps Do Your Form 24Q Revision Using greytHR Want to see the Magic? Here You Go! (C) Greytip Software Pvt. Ltd.,
  • 8. Steps required to do Form 24Q Revision using greytHR • Step 1: Upload your CTDS • Step 2: Generate the Correction Statement • Step 3: Generate Your Form 24Q Revised – FVU - using greytHR (C) Greytip Software Pvt. Ltd.,
  • 9. Log Into GreytHR! (C) Greytip Software Pvt. Ltd.,
  • 10. Select Payroll From Menu (C) Greytip Software Pvt. Ltd.,
  • 11. Lock the Payroll – For Particular Quarter (C) Greytip Software Pvt. Ltd.,
  • 12. Now Go to Actions (C) Greytip Software Pvt. Ltd.,
  • 13. Enter – 24Q in the Search Box (C) Greytip Software Pvt. Ltd.,
  • 14. Form 24Q – Home Screen (C) Greytip Software Pvt. Ltd.,
  • 15. Select the Particular Quarter – 24Q Revision (C) Greytip Software Pvt. Ltd.,
  • 16. Step 1: Upload Your CTDS (C) Greytip Software Pvt. Ltd.,
  • 17. Click Next post Uploading your CTDS (C) Greytip Software Pvt. Ltd.,
  • 18. Step 2: Generate the Correction Statement (C) Greytip Software Pvt. Ltd.,
  • 19. Corrections Details (C) Greytip Software Pvt. Ltd.,
  • 20. Step 3: GreytHR – Generating FVU File (C) Greytip Software Pvt. Ltd.,
  • 21. Revised Form 24Q – Generated Output (C) Greytip Software Pvt. Ltd.,
  • 22. Want to Know what is that error? Select Error Report… (tailor made feature for you!) (C) Greytip Software Pvt. Ltd., Incase of Errors!
  • 23. Error Report - Usage (C) Greytip Software Pvt. Ltd.,
  • 24. What are the Different Types of Corrections that I can make? • C1- Update deductor details (Name and Address) • C2 - Update challan details • C3 - Update/delete /add deductee details. • C4 - Add / delete salary detail records. • C5 - Update PAN of the deductee or employee • C9 - Add a new challan and underlying deductees. (C) Greytip Software Pvt. Ltd.,
  • 25. Your Feedback Makes Us Serve You Better!!! Please Share your feedback about the session at : Webinar@greytip.com (C) Greytip Software Pvt. Ltd.,
  • 26. Thank You! and Wish you a Happy New Financial Year! (C) Greytip Software Pvt. Ltd.,