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TDS Return Filing (24Q / Form 16) in Mumbai: Quarterly Compliance for Every Employer

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Form 24Q: Quarterly TDS return for salary under Section 192. Filed on TIN-NSDL/Protean portal. Q4 includes Annexure II with full-year salary breakup

Due Dates: Q1: 31 July | Q2: 31 October | Q3: 31 January | Q4: 31 May. Monthly TDS deposit by 7th via Challan 281

Form 16: TDS certificate issued to employees by 15 June (within 15 days of Q4 24Q filing). Part A from TRACES + Part B from Annexure II

Penalties: Late fee: Rs 200/day (S.234E, capped at TDS). Penalty: Rs 10,000-1,00,000 (S.271H). Late deposit: 1.5%/month interest

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Overview What Is 24Q Who Files Services Process Documents Challenges Costs Due Dates Why Patron Annexure I vs II FAQs

TDS Return Filing in Mumbai: Complete Overview

📌 TL;DR - TDS Return Filing Services at a Glance

Form 24Q: quarterly salary TDS return. Q1: 31 Jul, Q2: 31 Oct, Q3: 31 Jan, Q4: 31 May (with Annexure II). Form 16 by 15 June. TDS deposit by 7th monthly (Challan 281). Late fee Rs 200/day (S.234E). Penalty Rs 10K-1L (S.271H). New vs Old Regime handling. NSDL RPU/FVU. TRACES for Form 16 + corrections. Mumbai = India's largest employer base.

Mumbai is India's largest private sector employment hub, generating the highest volume of salary TDS returns. BKC BFSI, Powai IT, Andheri MIDC, hospitality, media - every employer deducting TDS from salary files Form 24Q quarterly.

Parameter	Detail
Form 24Q	Quarterly salary TDS return under Section 192
Due Dates	Q1: 31 Jul \| Q2: 31 Oct \| Q3: 31 Jan \| Q4: 31 May
Form 16	TDS certificate by 15 June. Part A (TRACES) + Part B (Annexure II)
TDS Deposit	By 7th of following month via Challan 281. March by 30 April
Late Fee	S.234E: Rs 200/day (capped at TDS amount)
Penalty	S.271H: Rs 10,000 to Rs 1,00,000
Portal	TIN-NSDL/Protean (filing) \| TRACES (Form 16, corrections)

Patron's Marine Lines office handles complete TDS compliance. Related: TDS return filing, payroll services, income tax return, professional tax.

Content is reviewed quarterly for accuracy.

What Is Form 24Q and Form 16?

Form 24Q is a quarterly statement filed by employers reporting TDS deducted from employee salaries under Section 192. Annexure I (all quarters): deductor, challan, deductee details. Annexure II (Q4 only): full-year salary breakup per employee.

Form 16 is the TDS certificate: Part A (from TRACES - quarter-wise TDS) + Part B (from Annexure II - salary computation). Employees use Form 16 to file income tax returns. Due by 15 June.

Filed on TIN-NSDL/Protean portal. Form 16 from TRACES. Related: TDS return filing, income tax return.

Key Terms for TDS Return Filing:

24Q Annexure I: All 4 quarters. Deductor/challan/deductee details. PAN, TDS amount, BSR code, deposit date. Errors = short credit in Form 26AS.
24Q Annexure II: Q4 only. Full-year salary: gross, HRA, LTA, exemptions, S.80C/80D deductions, taxable income, tax computed. Generates Form 16 Part B.
Form 16: Part A (TRACES: quarter-wise TDS) + Part B (Annexure II: salary computation). By 15 June. Late = Rs 100/day per certificate.
S.234E: Rs 200/day late fee for delayed 24Q. Capped at total TDS amount. Automatic - no discretionary waiver.
New vs Old Regime: S.115BAC default from FY 2023-24. Employee declares regime. TDS computed accordingly. Both reported in Annexure II.
TRACES: tdscpc.gov.in. Form 16 Part A download, corrections (C1-C5), challan verification, 26AS credit tracking.

24Q Filed

Which Mumbai Employers File Form 24Q?

BFSI (BKC, Nariman Point): Thousands of employees. Complex compensation: ESOPs, variable pay, expatriate allowances. Bulk 24Q quarterly. Payroll services.

IT/ITES (Powai, Andheri): Complex CTC: variable pay, retention bonuses, ESOPs, perquisites. New vs Old Regime handling. High mid-year attrition = Form 12B collection. Income tax return.

Manufacturing (Andheri MIDC, Thane-Belapur): Mix of management (higher TDS) and workers (often below exemption). Correct classification essential. PF registration.

Media/Entertainment (Film City, Andheri): Project-based compensation. Irregular salary patterns. Retainer fees for on-payroll talent. Accounting services.

Any Employer Deducting Salary TDS: Startups, NGOs, education, healthcare, retail, professional firms. Electronic 24Q mandatory for 20+ deductees. Company compliance.

TDS Return Filing Services

Service	What We Do
Monthly TDS Computation	Per-employee calculation based on declared regime (New S.115BAC/Old), investment declarations, salary structure, slab rates. BKC BFSI ESOPs and variable pay adjusted monthly. Integrated with payroll
Quarterly 24Q Preparation	Annexure I: deductor, challan BSR/CIN, deductee PAN/TDS. NSDL RPU preparation + FVU validation. For 100-5,000+ employees from payroll exports. Filed within 10 days of quarter end
Q4 Annexure II	Full-year salary breakup per employee: gross, exemptions (HRA/LTA), deductions (80C/80D/24b), taxable income, tax. 12 months payroll reconciled. Generates Form 16 Part B. Most critical filing
Form 16 Generation	Part A bulk download from TRACES. Part B from Annexure II. Merged and distributed to all employees by first week of June - 10 days ahead of 15 June deadline. Secure email/HR portal distribution
TRACES Corrections	C1-C5 correction statements for PAN mismatch, TDS amount errors, challan discrepancies. Consolidated file download, RPU correction, FVU validation, re-upload. Within 5 working days
TDS Challan Management	Monthly Challan 281 deposit by 5th (2-day buffer). BSR code verification. Multi-branch challan consolidation for BKC HQ + Thane + Navi Mumbai locations
New/Old Regime Handling	Per-employee regime classification. S.115BAC default with opt-out tracking. TDS computed regime-wise. Annexure II correctly reports both regimes for Mumbai employers with mixed declarations
TDS Demand Notice Response	Representation before Assessing Officer for short deduction, late deposit interest. Portal response. CPC-TDS coordination. Demand rectification for Mumbai employers

Our Process

TDS Return Filing Process in Mumbai

Our 6-step process covers complete TDS compliance from monthly computation through challan deposit, 24Q preparation, filing, Form 16 generation, to corrections.

Step 1

Compute Monthly TDS for Each Employee

Calculate TDS based on estimated annual income, declared regime (New S.115BAC/Old), investment proofs (80C, 80D, HRA, LTA), and slab rates. Deduct from monthly salary. For BKC BFSI with ESOPs/variable pay, Patron recomputes monthly based on actuals.

Regime classifiedSlab appliedProofs processed

Computed 01

Step 2

Deposit TDS by 7th of Following Month

Pay via Challan 281 on income tax e-payment portal. Verify BSR code, CIN, amount. March TDS by 30 April. Patron processes deposits by 5th - 2-day buffer. Multi-branch challans consolidated for Mumbai employers.

Challan 281 paidBSR verified2-day buffer

Deposited 02

Step 3

Prepare Form 24Q Using RPU/FVU

Compile employee data and challan details. Use NSDL RPU to prepare 24Q file. Run FVU for validation (PAN, challan, amount checks). Q4: include Annexure II with full-year salary breakup. Patron generates 24Q from payroll exports.

RPU preparedFVU validatedAnnexure II (Q4)

24Q Ready 03

Step 4

File 24Q on TIN-NSDL/Protean Portal

Upload validated file using employer TAN and digital signature. Download Form 27A acknowledgment. Patron files within 10 days of quarter end - 20+ day buffer before statutory deadline.

Uploaded27A downloaded20-day buffer

Filed 04

Step 5

Generate and Issue Form 16 (After Q4)

After CPC-TDS processes Q4 24Q: download Form 16 Part A from TRACES in bulk. Prepare Part B from Annexure II data. Merge Part A + Part B. Issue to each employee by 15 June. Patron distributes by first week of June.

Part A downloadedPart B mergedDistributed early

Form 16 Issued 05

Step 6

File Corrections and Maintain Records

If errors found: download consolidated file from TRACES, prepare C1-C5 corrections via RPU, validate, upload. Maintain salary records, investment proofs, challans, 24Q data for 7+ years. Patron handles end-of-year reconciliation.

Corrections filedRecords maintained7-year retention

Compliant 06

Documents Required for TDS Return Filing

TAN: Tax Deduction Account Number registered with Income Tax Department.
Employee PAN: Valid PAN for every employee. Invalid = TDS at 20% (S.206AA).
Monthly Payroll Data: Employee-wise salary breakup: basic, HRA, special allowance, LTA, bonus, perquisites.
Investment Declarations/Proofs: S.80C (PPF, ELSS), 80D (medical), 80E (education loan), 24(b) (home loan). Proofs collected January.
Challan 281 Receipts: Monthly TDS deposit with BSR code, CIN, date, amount.
Previous Quarter 24Q: Token number for continuity across quarters.
DSC: Digital Signature Certificate for electronic filing.

Mumbai Tip: Employees who changed jobs mid-year (common in BKC BFSI and Powai IT) must submit Form 12B declaring previous employer income and TDS. This data goes into current employer TDS computation and Q4 Annexure II. Missing Form 12B = incorrect TDS and Form 16 discrepancies. Patron collects Form 12B at onboarding.

Common TDS Filing Challenges in Mumbai

Challenge	Impact	How Patron Accounting Solves It
New vs Old Regime Mix	S.115BAC default from FY 2023-24. 500-5,000 employee employers with both regimes. Errors in regime classification = wrong TDS, incorrect Form 16, employee grievances during ITR	Per-employee regime tracking. TDS computed regime-wise. Annexure II correctly reports both. Regime declarations verified at onboarding and January investment proof cycle
Complex CTC (BKC/Powai)	ESOPs (perquisite on exercise), variable pay (taxed in payment quarter), retention bonuses, car perquisites, flexible benefits. Each has specific TDS treatment	Component-wise TDS computation. ESOP perquisite value calculated at exercise. Variable pay adjusted quarterly. Full reconciliation in Q4 Annexure II
Mid-Year Job Changes	High attrition = thousands change jobs. Form 12B (previous employer income) must be collected and incorporated. Missing data = TDS shortfall for employee	Form 12B collected at onboarding. Previous employer income incorporated into TDS. Combined income reported in Annexure II. Form 16 reflects total FY income
Bulk Form 16 Generation	1,000-10,000+ employees by 15 June. TRACES portal congestion in May-June. Part B requires 12-month payroll reconciliation. Distribution to resigned employees tracked	Bulk Part A download from TRACES. Part B from reconciled Annexure II. Merged and distributed by first week June - 10 days early. Resigned employee tracking included
Challan Mismatches	Multi-branch employers: BKC HQ + Thane + Navi Mumbai use different challans. Mismatches = short credit in Form 26AS = demand notices to employees	Multi-branch challan consolidation. BSR code cross-verification before 24Q. TRACES correction for mismatches. Form 26AS credits verified quarterly

TDS Return Filing Costs

Fee Component	Amount
24Q Filing (Govt)	Nil
Late Fee (S.234E)	Rs 200/day (capped at TDS)
Penalty (S.271H)	Rs 10,000 to Rs 1,00,000
Late Deposit Interest	1.5%/month
Patron: 24Q Quarterly	Starting Rs 2,000/quarter
Patron: Q4 + Annexure II	Starting Rs 5,000
Patron: Payroll + TDS Bundle	Starting Rs 5,000/month

All fees and charges listed are indicative only and do not constitute a binding offer. Final amounts may vary depending on the volume of work and the complexity involved.

Professional service charges for drafting, filing, and representation are separate from the statutory fees. The exact fee depends on the complexity of the case, disputed amount, and number of hearings required. Contact us for a detailed quote.

Get a free TDS Return Filing consultation - Call +91 945 945 6700 or WhatsApp us. No-obligation assessment.

TDS Return Filing Due Dates

Stage	Estimated Timeline
Monthly TDS Deposit	7th of following month (March by 30 Apr)
Q1 24Q (Apr-Jun)	31 July
Q2 24Q (Jul-Sep)	31 October
Q3 24Q (Oct-Dec)	31 January
Q4 24Q (Jan-Mar)	31 May (with Annexure II)
Form 16 Issuance	15 June (within 15 days of Q4)
Patron Buffer	24Q within 10 days of quarter end

Note: No discretionary extensions for 24Q. Late fee Rs 200/day is automatic (S.234E). Penalty Rs 10K-1L additional (S.271H). Late Form 16 = Rs 100/day per certificate - for 5,000 employees, Rs 5 lakh per day. Challan deposit by 7th non-negotiable. Patron files 24Q within 10 days of quarter end and issues Form 16 by first week of June.

Key Benefits

Why Choose Patron for TDS Filing in Mumbai

Payroll-Integrated TDS

Monthly TDS flows from payroll. Zero manual data entry. Regime classification, investment proofs, slab computation automated. 24Q generated from payroll exports.

Bulk 24Q + Form 16

500-5,000+ employee processing. NSDL RPU automated. Form 16 Part A + Part B merged in bulk. Distributed by first week of June - 10 days early. Zero employee complaints.

TRACES Correction Expertise

C1-C5 corrections for PAN mismatch, TDS errors, challan discrepancies. Consolidated file download, RPU correction, FVU validation. Within 5 working days.

20-Day Advance Filing

24Q filed within 10 days of quarter end. Zero late fees. 10,000+ businesses, 4.9 rating, 15+ years, 4 offices across India.

Trusted by Employers Across Mumbai

Trust Banner: 10,000+ Businesses Served | 4.9 Google Rating | 50,000+ Documents Filed | 15+ Years

Offices in Pune, Mumbai, Delhi, and Gurugram. Payroll-integrated TDS compliance. NSDL RPU + TRACES expertise for employers of all sizes.

Annexure I vs Annexure II in Form 24Q

Aspect	Annexure I	Annexure II
Filing	All 4 quarters	Q4 only (Jan-Mar)
Content	Deductor, challan, employee TDS	Full-year salary breakup per employee
Key Data	PAN, TDS, BSR code, deposit date	Gross salary, exemptions, 80C/80D, taxable income
Purpose	Report quarterly TDS deduction/deposit	Enable Form 16 Part B generation
Error Impact	Short credit in Form 26AS	Incorrect Form 16; employee ITR issues
Mumbai Scale	5,000 rows per quarter (BKC bank)	5,000 full-year computations in Q4

Related Services

Mumbai employers filing TDS returns often need:

TDS Return Filing - National guide.
Payroll Services - Monthly payroll.
Income Tax Return - Personal/business ITR.
Professional Tax - Maharashtra PT.
PF Registration - Provident fund.
Statutory Audit - Annual audit.

Legal Framework for TDS Returns

Income Tax Act, 1961:

S.192: TDS on salary. S.200(3): Quarterly 24Q. S.203: Form 16 certificate. S.115BAC: New Tax Regime default. S.206AA: 20% TDS without PAN.

Penalties:

S.234E: Rs 200/day late fee (capped at TDS). S.271H: Rs 10K-1L penalty. S.201: 1.5%/month interest on late deposit. S.272A(2)(g): Rs 100/day late Form 16.

Due Dates:

Q1: 31 Jul | Q2: 31 Oct | Q3: 31 Jan | Q4: 31 May. Form 16: 15 Jun. TDS deposit: 7th monthly.

Portals: Income Tax | TRACES

FAQs: TDS Return Filing in Mumbai

Get answers about IT office, 24Q due dates, Form 16 issuance, late penalties, electronic filing, TRACES portal, missing PAN, and 24Q corrections for Mumbai employers.

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Which IT office handles TDS returns in Mumbai?

Form 24Q is filed electronically on the TIN-NSDL Protean portal and processed centrally by CPC-TDS at Vaishali Ghaziabad. No filing with any local Mumbai IT office is required. TDS demand notices and assessments are handled by the jurisdictional Assessing Officer based on the employer TAN and PAN zone in Mumbai. Form 16 is generated from the TRACES portal tdscpc.gov.in.

What is the due date for filing Form 24Q?

Form 24Q must be filed quarterly. Q1 April to June by 31 July. Q2 July to September by 31 October. Q3 October to December by 31 January. Q4 January to March by 31 May. Q4 includes Annexure II with full-year salary details that generate Form 16. Late filing attracts Rs 200 per day under Section 234E capped at total TDS plus penalty of Rs 10,000 to Rs 1,00,000 under Section 271H.

When should Form 16 be issued to employees?

Form 16 must be issued by the employer to each employee within 15 days of the Q4 Form 24Q filing date. Since Q4 24Q is due by 31 May Form 16 must be issued by 15 June. For employees who resign mid-year the employer should issue Form 16 after the relevant quarter 24Q is filed. Late issuance attracts Rs 100 per day per certificate under Section 272A(2)(g).

What is the penalty for late TDS return filing?

Section 234E imposes a late fee of Rs 200 per day of delay capped at the total TDS amount reported in the return. Section 271H imposes a penalty of Rs 10,000 to Rs 1,00,000 for late filing or providing incorrect information. Additionally interest at 1.5 percent per month applies if TDS is deposited late from date of deduction to date of deposit.

Is electronic filing of 24Q mandatory?

Yes electronic filing is mandatory for all companies government deductors employers with 20 or more deductees in any quarter and entities whose accounts are subject to tax audit. Virtually all Mumbai employers with salaried staff fall under these criteria. The 24Q file is prepared using NSDL RPU validated through FVU and uploaded on the TIN-NSDL Protean portal.

What is TRACES and how is it used?

TRACES TDS Reconciliation Analysis and Correction Enabling System at tdscpc.gov.in is the portal used by employers to download Form 16 Part A view processed 24Q data file correction statements verify challan status and track TDS compliance. After filing 24Q Mumbai employers use TRACES to generate bulk Form 16 and verify employee Form 26AS reflects correct TDS credits.

What happens if employee PAN is missing in 24Q?

If a valid PAN is not provided for an employee TDS must be deducted at the higher rate of 20 percent instead of the applicable slab rate under Section 206AA. The 24Q must still include the deductee row with the remark that PAN is not available. This results in higher TDS for the employee and potential refund claims during ITR filing.

Can errors in filed 24Q be corrected?

Yes correction statements can be filed on the TRACES portal. Download the consolidated 24Q file for the relevant quarter from TRACES. Prepare the correction using NSDL RPU with types C1 for deductor details C2 for challan corrections C3 for deductee PAN or amount corrections C5 for adding new challans or deductees. Validate with FVU and upload on TIN-NSDL portal.

Quick Answers

24Q kab file karna hota hai? Q1: 31 Jul, Q2: 31 Oct, Q3: 31 Jan, Q4: 31 May. Q4 mein Annexure II (poore saal ka salary breakup) bhi file hota hai. Late pe Rs 200/day fee.

Form 16 kab milta hai? 15 June tak. Q4 24Q file hone ke 15 din mein. Late dene pe Rs 100/day per certificate penalty.

TDS deposit kab karna hota hai? Har month ki 7 tarikh tak Challan 281 se. March ka TDS 30 April tak. Late pe 1.5%/month interest.

File Every Quarter - Rs 200/Day Penalty Is Automatic

No discretionary extensions for 24Q. S.234E late fee (Rs 200/day) is automatic. S.271H penalty Rs 10K-1L additional. Late Form 16 = Rs 100/day per certificate (5,000 employees = Rs 5 lakh/day). Incorrect 24Q = wrong Form 26AS credits = demand notices to employees = employer reputation damage. Mumbai's massive employer base makes accurate, timely TDS compliance essential.

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Compute, File, Issue Form 16 - Every Quarter

TDS return filing (24Q/Form 16) in Mumbai is quarterly compliance for every employer. BKC BFSI with thousands of employees, Powai IT with complex CTCs, MIDC manufacturing with mixed salary levels - accuracy and timeliness directly impact employee Form 16 quality and 26AS credits.

Annexure II (Q4) is the most critical filing - full-year salary breakup generating Form 16. New vs Old Regime handling. ESOP/variable pay computation. Form 12B for job changers. TRACES corrections for errors.

Patron provides payroll-integrated TDS, 20-day advance filing, bulk Form 16 by first week June, TRACES corrections, and demand notice response from Marine Lines. 10,000+ businesses, 4.9 rating, 15+ years.

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Content Created: 24 March 2026 | Last Updated: 24 March 2026 | Next Review: 24 June 2026 | Reviewed By: CA & CS Team, Patron Accounting LLP

This page covers TDS return filing (24Q/Form 16) in Mumbai. Content reviewed quarterly (Freshness Tier 1) as IT Act amendments, due date extensions, and tax regime rules evolve.