When you compute or calculate your total income tax for the year, that is when Form 24G will be required. The Indian Government recently made it a mandate for every citizen to file Form 24G via the provisions of the IT Department.
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.
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.
Form 24G must contain the following details:
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.
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.
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.
Users can now check the status of Form 24G online from this NSDL government website tool (https://onlineservices.tin.egov-nsdl.com/TIN/JSP/etbaf/linktoUnAuthorizedInput.jsp), 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.
know about How to Fill Form 24G
Yes, the unique seven-digit AIN should be compulsorily mentioned in Form 24G.
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.
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.
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