What is the difference between Form 26Q and Form 27Q?
Form 26Q: This form is used for quarterly filing of TDS returns on any payment other than salary to Indian citizens by the government or corporates operating in India. Form 27Q: This form is used for quarterly filing of TDS returns electronically on any payment other than salary to NRIs and foreigners.
What is Form 27Q TDS return?
27Q is the statement of TDS return that is required to be filed when tax is deducted and deposited while making payments (other than salary) to non-residents. It is required to be furnished every quarter just like Form 24Q (for salary payments) and form 26Q (for non- salary payments).
What is Form 26Q TDS?
Form 26Q is used to file TDS details on payments made other than salary. The form mentions the total amount that is paid during the quarter and the TDS amount that has been deducted.
How TDS return is filed?
Physical TDS returns must be submitted at the TIN-FC. The NSDL manages all TIN-FCs. In case returns are filed online, they can be submitted on the official website of the NSDL TIN. However, a level 2 digital signature must be used by the deductor in case TDS returns are filed online.
How do I file form 27Q?
Details Required to be filled in Form 27Q
- The Payer. Name of the Payer. Address. PAN Number.
- The Payee. Name of the Payee. The branch of the division for collection. Complete Address.
- Challan. The Serial number of Challan. TDS amount. Surcharge amount.
- Deduction. Name of the Tax Collector. PAN Number. Amount paid to the Payee.
What is 27Q and 27EQ?
Form 24Q, 27Q and 27EQ are return forms related to TDS which are to be presented by the deductor to Income Tax Department. Payer or deductor deducts the TDS and submits the amount (TDS amount) as tax to the government. Recipient or deductee receives the TDS subtracted amount as income or salary.
How do you make 27Q?
What is form 16 A?
The Form 16A is a TDS Certificate carrying all amounts of TDS nature being actually deposited with the Income Tax Department. When payments from non-Salary incomes are made, the deductor like – TDS Professional fees, Rent, Bank Interest payments to the IT Department they issue a “TDS Certificate”
Who files TDS return?
TDS return can be filed by employers or organizations who avail a valid Tax Collection and Deduction Account Number (TAN). Any person making specified payments mentioned under the I-T Act are required to deduct tax at source and needs to deposit within the stipulated time for the following payments : Payment of Salary.