Get Personal eCA to file Income Tax Return at ease

  • • Ensure Maximum Tax Saving
  • • Analysis of 26AS+AIS Statement
  • • Post Tax Filing Support
  • • Personal Dashboard
  • • On-call consultation
  • Trusted by 2 Million+ Users Trusted by 1+ Million Users
  • Secure & Safe Secure & Safe
  • 4.7 Star User Rating 4.7 Star User Rating
cta user img

TDS Return Forms: Form 24Q, 26Q, 27Q, 26QB, 26QC, 27EQ

Updated on: 14 Apr, 2022 03:52 PM

Due Date, How to download and file, Consequences of late filing
TDS return is a comprehensive summary of all the TDS transactions done during the quarter. This quarterly statement shows the summary of all the entries for the-
TDS deducted by the deductor and
TDS paid by the deductor
Details of parties whose TDS has been deducted
As the deductor is liable to deduct tax and file the TDS return Form as a supporting document, there are various types of return forms for different situations.

What is a TDS Return ?

Every person making specified payments mentioned under the income tax act is required to deduct TDS at the time of making such specified payments or credit in the books of accounts as per the Rules.
TDS returns are quarterly statements which contain the information pertaining to TDS deducted and deposited. It is submitted by the person deducting TDS i.e. TDS deductor to the income tax department.


Who is required to file TDS return?

Every assessee (other than who is required to file Form 26QB, 26QC etc.)who has deducted TDS is required to file TDS Return.


What are the different TDS Return Forms?

Different forms have been prescribed for filing TDS returns depending upon the nature of the TDS deduction, such as

FORM PARTICULARS
Form 24Q Quarterly statement for tax deducted at source (TDS) from “Salaries”
Form 26Q Quarterly statement for tax deducted at source in respect of all payments except ‘salaries’
Form 27Q Quarterly statement of deduction of tax from interest,dividend or other sum payable to non residents.
Form 26QB It is a challan cum statement of deduction of tax u/s 194-IA.
Form 26QC It is a challan cum statement of deduction of tax u/s 194-IB.
Form 27EQ Quarterly statement of collection of tax at source (TCS)

How can I download TDS return forms?

TDS return forms can be downloaded from tin-nsdl official website. To download forms follow this process

  • Click on the above mentioned link
  • From the top banner navigate to “Downloads”
  • Select “e-TDS/e-TCS”
  • Go to Quarterly Returns and
  • Choose “Regular”
  • A list of all forms will be displayed. Click to download the pdf file.

Alternatively you can also download these forms by directly clicking here.


What is FORM 24Q?

Form 24Qis a quarterly statement of deduction of tax u/s 200(3) of the income tax act in respect of salary for the quarter ended.

  • Details of salary paid to employees and TDS deducted on such payment is to be reported in 24Q. Along With this, if the deductor has either not deducted or deducted at a lower rate, reasons are also to be mentioned in the form.
  • It contains two annexures. Annexure I comprises the details of challan with deductee-wise break up of TDS, while Annexure II (applicable only in Quarter IV) comprises the details of the salary paid/credited for the relevant financial year and net tax payable.
    1. The sections covered in Form 24Q are-

What is FORM 26Q?

Form 26Q is a quarterly statement of deduction of tax u/s 200(3) of the Income tax Act in respect of payments other than salary for the quarter ended.

  1. Unlike Form 24Q, 26Q contains only one annexure.
  2. Challan details, details of deductor and deductee are to be mentioned. Alongwith this if the deductor has either not deducted or deducted at a lower rate, reasons are also to be mentioned in the form.
  3. The sections covered in this form are -
Section Nature of payment
193 Interest on securities 
194 Dividend 
194A Interest other than interest on securities
194B Winning from lotteries and crossword puzzles
194BB Winnings from horse race
194C Payment of contractor and subcontractor
194D Insurance commission
194EE Payment in respect of deposit under (NSS) national saving scheme
194F Payments on account of repurchase of units by mutual funds or UTI 
194G Commission , prizes etc., on sale of lottery tickets
194H Commission or brokerage
194I(a) Rent
194I(b) Rent
194J Fees for professional or technical services
194LA Payment of the Compensation on acquisition of certain immovable property.
194LBA Certain income from compensation on acquisition of certain immovable property
194DA Payment in respect of life insurance policy
194LBB Income in respect of units of investment fund
194IA Payment on transfer of certain immovable property excluding agriculture land
194LC TDS on income by way of interest from an Indian Company or a business trust
194LD TDS on income by way of interest on certain bonds and Government Securities
194LBC Income in respect of investment in securitization trust
192A Payment of accumulated balance due to an employee from the trustees of the Employees’ Provident Fund Scheme, 1952
194N TDS on cash withdrawal in excess of Rs 1 crore
194M TDS on payment to resident contractors and professionals
194O TDS on E Commerce Transactions under Section 194O  with effect from 01st April 2020

What is FORM 27Q?

Form 27Q is a quarterly statement of deduction of tax u/s 200(3) of the income tax act in respect of payments other than salary made to non residents for the quarter ended.

  • Mention deductor category as per annexure I, section codes as per annexure II, Reason for Lower/ No/ Higher deduction as per Annexure III, nature of remittance as per Annexure 4 and country of residence as per Annexure 5
  • Non - Government deductors are compulsorily required to quote PAN. For Government deductors ‘PANNOTREQD’ needs to be mentioned.
  • The sections covered in this form are-
Section Nature of payment
194E Payment made to sports association or NRI sportsman
194LB Payment made as interest on infrastructure debt fund
194LC Payment made as interest by Indian company or trust for the money borrowed in foreign currency as a loan or long term bonds.
195 Payment made to Non resident Indian citizen
196B Payment made to an offshore fund
196C Payment made to non-resident Indian citizen in the form of Indian’s company shares or foreign currency bonds
196D Payment being made to foreign investors in the form of securities.
194LD TDS on income by way of interest on certain bonds and Government Securities(Applicable from FY 2013-14 onwards)
194LBA Certain Income from units of business trust(Applicable from FY 2014-15 Q3 onwards)
194LBB Income in respect of units of the investment fund(Applicable from FY 2015-16 onwards)
192A Payment of accumulated balance due to an employee made by the trustees of the Recognized Provident Fund (RPF). Applicable for statements pertaining to FY 2015-16 onwards & where the date of payment is on or after 01/06/2015.
194LBC - Income in respect of investment in securitization trust. Applicable for statements pertaining to FY 2016-17 onwards & where the date of payment is on or after 01/06/2016.

What is FORM 26QB?

As per Section 194-IA of the income tax act,TDS applies to sale of immovable property wherein sales consideration of immovable property is more than Rs 50 lacs.

  • Tax @1% shall be deducted by the buyer while making the payment to the Seller of the property and as per the provisions.
  • TDS has to be submitted along with duly filled Form - 26QB ( which is a challan cum statement of deduction of tax as per Section 194 IA) within 30 days from the end of the month in which TDS was deducted.
  • The person deducting TDS shall furnish Form 16B to the payee within 15 days from the due date of furnishing challan cum statement in Form 26QB.

What is FORM 26QC?

As per Section 194IB, individuals and HUFs who pay rent exceeding Rs 50,000 will have to deduct TDS @5%.

  • The TDS has to be deducted once in the financial year as per the provisions of the law. TDS deducted is required to be paid within 30 days from the end of the month in which TDS is deducted. It is accompanied by the challan cum statement in Form 26QC.
  • According to rule, Taxpayer/Tenant should furnish challan-cum-statement in Form 26QC in following scenarios:-
    (a). At the end of the FY or in the month when the premise is vacated / termination of agreement. However, taxpayer has to mandatorily file the Form at the end of each Financial Year (in case the agreement period contains more than one FY and rent has been paid/credited during the year)
    (b). In the month when the premise is vacated/ termination of agreement ( in case the agreement period falls in the same FY)
  • The person deducting TDS shall furnish Form 16C to the payee within 15 days from the due date of furnishing challan cum statement in Form 26QC.

What is FORM 27EQ?

Quarterly statement of collection of tax at source under section 206C of the Income?tax Act. Form 27EQ contains all the details related to tax collected at source

  • All the Corporates, Government and all Tax collectors are required to submit Form 27EQ.
  • Indicate
    - Deductor category as per Annexure 1,
    - Collection code as per Annexure 2 and
    - Remarks for no or lower collection as per Annexure 3
  • The Collection code covered in this form are-
Section  Nature of payment
206CA Alcoholic liquor for human consumption
206CB Timber obtained under a  forest lease
206CC Timber obtained under any mode except forest lease 
206CD Any other forest product except timber or  tendu leave 
206CE Scrap 
206CF Parking lot
206CG Toll plaza
206CH Mining and Quarrying
206CI Tendu leaves
206CJ TCS from sale of certain minerals
206CK TCS on cash case of bullion and jewellery
206CL Sale of motor vehicle
206CM Sale in cash of any goods
206CN Providing of any services
206C1G(a) remittance out of India under the LRS of RBI (Budget 2020 has proposed to insert this sec.)
206C1G(b) Overseas tour program package(Budget 2020 has proposed to insert this sec.)
206C1H Sale of any goods (except goods on which TCS applicable specifically)(Budget 2020 has proposed to insert this sec.)

What are the ways in which TDS Returns can be filed ?

(i) Offline process of filing the TDS return:
  • STEP 1: TIN NSDL website provides the file format (Return Preparation Utility) or the data structure in which e-TDS or e-TCS return is to be prepared.
  • STEP 2: When files are prepared as per the file format (Return Preparation Utility), then the file has to be verified by using File validation utility(FVU) as provided by NSDL.
  • STEP 3: If there are any errors then FVU will generate errors report, the file has to be verified again through FVU.
  • STEP 4: The generated .fvu file has to be submitted at TIN-FC. The TDS return (.fvu file) has to be saved in pen drive/CD and shall be submitted along with form 27A and shall be duly signed by the authorised signatory.
(ii) Online process of filing the TDS return:
  • STEP 1: TIN NSDL website provides the file format (Return Preparation Utility) or the data structure in which e-TDS or e-TCS return is to be prepared.
  • STEP 2: When files are prepared as per the file format (Return Preparation Utility), then the file has to be verified by using File validation utility(FVU) as provided by NSDL.
  • STEP 3: If there are any errors then FVU will generate errors report, the file has to be verified again through FVU.
  • STEP 4. The generated .fvu file has to be uploaded at income tax website as per below points :-
    1. Login to income tax india website.
    2. Enter your login credentials and click on ‘login’. Your user ID will be your TAN.
    3. After being logged in ,click the ‘Upload TDS’ under TDS tab.
    4. Then ‘Enter statement details’ and then click ‘validate’.
    5. Then upload the TDS zip file and attach the signature file generated using DSC management utility for upload of TDS zip file. Next click on upload button.
    6. When the TDS is uploaded the screen will display a successful message. Also a confirmation mail will be sent to your registered email id.
    7. The next step will have to validate i.e., e- verify TDS return using EVC, Aadhaar OTP i.e., electronic verification code.
    8. Next is to select the relevant option, enter the EVC and then click on submit.

What are the due dates of filing TDS return form?

Due date of filing 24Q, 26Q, 27Q-
Quarter Due date
April to june  31st July
July to September 31st October
October to December 31st Jan
January to March 31st May

Due date of filing of Form 26QB- The purchaser of property i.e. deductor has to file Form 26QB online. It is a Challan cum declaration statement which needs to be filed within 30 days from the end of the month in which payment was made. In respect of such deduction no separate TDS return is to be filed.

Due date of filing of Form 26QC- You have to pay tax online via Form 26QC which is a challan-cum-payment form within 30 days from the end of the month in which the tax is deducted. For instance, if tax is deducted in March, the last day to deposit the tax and file 26QC will be 30 April 2020.

Due date of furnishing of Form 27EQ-

Quarter Due date
April to June  15th July 
July to September 15th October
October to December 15th January
January to March 15th May

What are the consequences of filing late TDS return?

If the assessee fails to file the TDS return on the due date of furnishing the return then the assessee is liable to pay the penalty of Rs 200 per day till the time default continues. Also, the total penalty shall not exceed the TDS amount.


What is the TDS certificate & due date of issuing TDS certificate ?

TDS certificate is required to be issued by the person deducting TDS to the assessee from whose TDS was deducted.

Different TDS certificates and their due dates-
Form no. Description  Periodicity  Due date 
Form No. 16 TDS from salary Annual  On or before June 15 of the financial year immediately following the financial year in which tax is deducted or such date to be extended by income tax department.
Form no. 16A TDS from other than Salary Quarterly  Upto 15 days from the due date of furnishing quarterly TDS returns 
Form No. 16B  TDS u/s 194-IA
Within 15 days from the due date of furnishing challan in Form No. 26QB
Form No. 16C TDS u/s 194-IB
Within 15 days from the due date of furnishing challan in Form No. 26QC
Form No. 27D Certificate for TCS return  Quarterly  Within 15 days from the due date of furnishing quarterly TCS returns.

Frequently Asked Questions (FAQs)

Q - Whether a separate return needs to be filed in case of TDS u/s 194-IA?

No, a challan cum statement is filed in Form 26 QB, no separate return needs to be filed.


Q - Which challan is used for making TDS payment?

Challan 281 is used for depositing TDS or TCS by corporates as well as non corporates . Taxpayers can file challan 281 online as well as offline.


Q - Can I file Form 26QB offline?

If the person wishes to make the payment offline, then an e-receipt for Form 26QB with a unique acknowledgement No. which is valid for 10 days is generated.
The e-receipt needs to be submitted to an authorised bank with cash or cheque. The bank shall handle the e-payment and produce the challan.


Q - How to file Form-26QB challan cum statement?

Form 26QB statement cum challan can be filed along with payment of tax under Form 26QB in “TDS on sale of property” on the NSDL portal.


Q - What is the difference between Form 24Q & Form 26Q?

Form 24Q is to be filed and submitted for return of tds deducted on salary payments whereas Form 26Q is to be filed and furnished for tds details on payments other than salary.


CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2Win.in. Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.

X

Tax Filing Deadline FY 2021-22

Get a personal eCA

Get a personal eCA

Start Now