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TDS Return Forms

August 2, 2018
TDS Return forms

TDS return forms is a quarterly statement to be given to the IT Department. It is compulsory for deductors to submit a TDS return on time.

The details required to file TDS returns are:

  • PAN of the deductor and the deductee
  • Amount of tax paid to the Government
  • TDS Challan information
  • Others, if any

TDS Return Form 24Q

A form in which the deductor gives the details of all the amounts of tax deducted at source (TDS) for the salary payments made during the relevant quarter of the financial year.

  • This form has to fill up for the declaration of a citizen’s TDS return in detail.
  • The form information is based on a citizen’s salary payments and the deductions made for tax.
  • The declaration and payment are to be made quarterly by companies and firms in India.
  • Details such as Deductor, Deductees, Challans as well as Salary TDS have to be provided.
  • The form can be downloaded and submitted online along with the required documents as well as submitted in person/company/organization.
  • However, for certain people, it is compulsory to be submitted online.

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This includes:

  1. If the deductor is a Government office.
  2. Deductor is the company’s principal officer.
  3. If the deductor is required to have their accounts audited for the prior year under 44AB of the income tax, 1961.
  4. If there are 20 or more records of deductees in a statement for any quarter of a particular financial year. 

Annexure I and Annexure II are also forms that require submission along with this form.

  1. Annex I has filled in for all four quarters of the year.
  2. Annexure II needs to file only for the final quarter of the year.

TDS Return Form 26Q

A form for all the amounts of TDS for the payments other than salary made to residents of India during the relevant quarter of the financial year.

  • This form has filled up for the declaration of a citizen’s TDS returns in detail.
  • This form is based on their payments other than salary.
  • It has filled up for the declaration by people who are living and working in India and are Indian citizens. 
  • This form is payable under the subsection (3) of section 200 of the Income-tax Act, 1961.

The sections under which the form is based on, and can use for reference to fill in the declaration form include sections 193, 194, 194A, 194BB, 194C, 194D, 194EE, 194F, 194G, 194H, 194I, 194J, 194LA and rule 31A.

  • It needs to indicate in the form of whether the deductor is Government or non-Government.
  • It is compulsory to quote the PAN for non-Government deductors.
  • In the case of Government deductors, "PANNOTREQD" has to be mentioned on the form.

Form 27Q

A form for all the amounts of TDS for the payments other than salary made to NRI/ Foreign assessees during the relevant quarter of the financial year.

  • This form has filled up for the declaration of Tds returns in detail by NRIs and foreigners.
  • This form is based on the payments of foreigners and NRIs other than salary.
  • It is compulsory for non-Government deductors to mention the PAN in the form.
  • For Government deductors, "PANNOTREQD" has to be mentioned.
  • The deductor category needs to indicate based on Annexure 1.
  • If the deductors are Central Government, the Ministry/Department has to be mentioned.
  • The same goes for the State Government. It is mandatory to fill in all the amount columns.

Form 27EQ

This form used for filing the details of Tax collected at source during the relevant quarter of the financial year.

  • It is mandatory to mention the TAN in this form.
  • The declaration is a Quarterly statement of collection of (TCS) tax at source.
  • The form made under the section 206C of the Income Tax Act.
  • It is compulsory for non-Government deductors to mention the PAN in the form. For Government deductors, "PANNOTREQD" has to be mentioned.
  • The deductor category needs to indicate based on Annexure 1.
  • If the deductors are Central Government, the Ministry/Department has to be mentioned.
  • The same goes for the State Government.
  • TCS is basically the tax that is collect by Seller from Buyer of certain goods when debiting the amount payable to the account of buyer by buyer or when receiving the amount from the buyer in the form of cheque, cash, demand draft or other modes of payment for selling certain prescribed goods as per Section 206C (1) for the purpose of business and not for personal use.

To check the previous blog please check the below link:

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