Quick Summary
Form 26Q is an essential document for reporting Tax Deducted at Source (TDS) on payments unrelated to salaries in India. This form is regulated by Section 200(3) of the Income Tax Act, 1961, and needs to be submitted quarterly by any deductor making certain types of payments. This form is requir
Daily Limit Reached
You have reached your daily limit of 2 Free Articles
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited Articles Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
Buy CCI PRO Now
Already a PRO member? Login here for an ad-free experience.
Form 26Q is a document used in India to report Tax Deducted at Source (TDS) on payments that are not related to salaries.
Form 26Q must be filed by any person or organisation, including companies, firms, or individuals, who are responsible for deducting TDS on payments like professional fees, rent, or commissions.
The due dates are 31st July for Q1 (April-June), 31st October for Q2 (July-Sept), 31st January for Q3 (Oct-Dec), and 31st May for Q4 (Jan-Mar).
You can download Form 26Q from the official Protean (NSDL) website by navigating to the Downloads section, selecting 'ETDS/E-TCS', then 'Quarterly Returns', and 'Regular'.
You will need deductor information (Name, Address, TAN), deductee information (Name, Address, PAN), challan details (BSR Code, payment date, amount), and the nature of payment.
Penalties for late filing include a fee of ₹200 per day under Section 234E, and a penalty ranging from ₹10,000 to ₹1,00,000 under Section 271H for non-filing or incorrect filing within a year of the due date. Interest may also be charged on late TDS payments.
CAclubindia
