Tcs how to filed to TCS which

In case the specified products (i.e. alcoholic liquor, scrap, minerals, tendu leaves, timber & other forest produce) are used for manufacturing, processing or producing articles/ things or for the purpose of power generation and not for the trading purposes, the resident buyer is required to furnish a declaration to the collector of tax in Form no. 27C. The collector is further required to submit the same to the department on or before the 7th day of the following month.

Compliances with TCS:

Due dates for deposit of TCS for the AY 2020-21:

For TCS by an office of the Government:

S. NO	PARTICULARS	DUE DATE
1	With Challan (Challan No./ ITNS 281)	7^th day of next month (including the payments to made for the month of March)
2	Without Challan	Same day on which tax is collected

For TCS by Others:

S.NO	PARTICULARS	DUE DATE
1	With Challan (Challan No./ ITNS 281)	7^th day of next month (including the payments to made for the month of March)
2	Without Challan	Not allowed

For the payments made by way of challan (i.e. ITNS 281), statement is required to be filed in FORM NO. 27EQ for every quarter.

Content of Form No. 27EQ:

The content of TCS Return in form 27EQ includes the following:

Tan Deduction & Collection Account Number (TAN)
Permanent Account Number (PAN)
Financial Year for which the return has been filed
Category of the collector of tax
Details of Collector: Name, TAN & Address
Details of Collectees: Name, PAN & Address
Details of Tax collected at source and paid to the government along with the details of challan by way of which the payment was made
Party wise breakup of TCS in separate annexure for each party along with the total amount collected from each of such party.
Verification statement signed by the Collector of Tax.

Due dates for filing for TCS RETURN in Form 27EQ FOR AY 2020-21:

QUARTER	QUARTER PERIOD	DUE DATE
1^st Quarter	1st Apr’19 to 30th Jun’19	15^th July 2019
2^nd Quarter	1st Jul’19 to 30th Sep’19	15^th October 2019
3^rd Quarter	1st Oct’19 to 31st Dec’19	15^th January 2020
4^th Quarter	1st Jan’20 to 31st Mar’20	15^thMay 2020

Preparation of return FORM NO. 27EQ:

Return can be prepared online by using NSDL e-Gov e-TDS/TCS Return Preparation Utility (RPU) that can be downloaded free of cost from the website of TIN.

Prepared return has to be submitted to any of the TIN-FCs established by NSDL e-Gov.

Interest attached with FORM NO. 27EQ:

Particulars	Interest Rate
If not COLLECTED	1% per month or part of the month from due date of deduction to actual date of deduction
If not DEPOSITED	1.5% per month or part of the month from the actual date of deduction to the actual date of payment

Penalty attached with FORM NO. 27EQ:

Section	Minimum penalty	Maximum Penalty
Late filing of 27EQ (Penalty u/s 234E)	@ 200 per day until filing of return	Maximum penalty can be equal to the amount of TDS deducted
Non- filing of 27EQ Penalty u/s 271H*	10,000/-	1,00,000/-

* No penalty will be charged under 271H if following conditions are fulfilled–

● TDS is deposited to the government

● Late filing fees and interest (if any) is also deposited

● Return is filed before expiry of 1 year from due date

TCS Certificate- FORM NO. 27D:

Every collector of tax has to furnish a certificate in Form No. 27D to collectee within 15 days of filing of return.

Due dates for issue TCS Certificate in Form 27D FOR AY 2020-21:

QUARTER	QUARTER PERIOD	DUE DATE
1^st Quarter	1st Apr’19 to 30th Jun’19	30^th July 2019
2^nd Quarter	1st Jul’19 to 30th Sep’19	30^th October 2019
3^rd Quarter	1st Oct’19 to 31st Dec’19	30^th January 2020
4^th Quarter	1st Jan’20 to 31st Mar’20	30^thMay 2020

For the payments made by way other than challan, a return is required to be filed in form No. 24G to the authorised authority on or before the dates given in the table below:

S.NO	PARTICULARS	DUE DATE
1	For months of Apr’19 to Feb’20	15^thday of next month from the end of relevant month.
2	For the month of Mar’20	30^thApr’20

Courtesy:: tax mann.com/blogpost/2000001807/form-27eq-for-tcs-return

TCS Certificate- FORM NO. 27D:

Every collector of tax has to furnish a certificate in Form No. 27D to collectee within 15 days of filing of return.

Sir in the above statement is the due date calculated from date of filing of return or due date mentioned in the table.

Due dates for issue TCS Certificate in Form 27D FOR AY 2020-21:

QUARTER	QUARTER PERIOD	DUE DATE
1^st Quarter	1st Apr’19 to 30th Jun’19	30^th July 2019
2^nd Quarter	1st Jul’19 to 30th Sep’19	30^th October 2019
3^rd Quarter	1st Oct’19 to 31st Dec’19	30^th January 2020
4^th Quarter	1st Jan’20 to 31st Mar’20	30^thMay 2020

Suppose, we have delayed in filing return by 15 days instead of 15th January filed on 30th January, for generation of form 27D will we get time upto 14th Feb or separate late fee notice we will get for 27D also. We received late fee notice for late filing of 27EQ.

Please clarify.