Tax Deducted at Source minimises tax evasion by compulsory tax deduction from an individual’s income. The tax is deducted at a pre-defined rate by the collector of such tax. The TDS collector has to file a TDS return, a quarterly statement, by filling out a designated Form for the tax. TDS returns contain all the information on the TDS deducted and deposited. This amount is then submitted to the Income Tax Department.
TDS Return Forms: Overview
TDS returns are filed based on the nature of the TDS deduction prevailing in a scenario. Here are all the TDS return forms with their nature of applicability.
| Form | Purpose |
| Form 24Q | It is a quarterly statement for deduction from salaries. |
| Form 26Q | This quarterly statement is for TDS deductions related to all payments besides salaries. |
| Form 26QB | This quarterly statement includes TDS deductions concerning payments made for immovable property. |
| Form 26QC | It is a combined challan and tax deduction statement under Section 194-IB, reflecting the tax withheld on property rent. |
| Form 27EQ | The quarterly statement is used for the collection of tax at source (TCS). |
| Form 27D | This quarterly statement proves that the collector has collected and paid the tax to the government, allowing the recipient to claim a tax credit in their Income Tax returns. |
| Form 27Q | This quarterly statement is for deducting tax from dividends, interest, or other amounts payable to non-resident individuals or foreign corporations. |
Understanding Different TDS Return Forms in Detail
Many get confused between a series of TDS Return Forms. However, all of them are different and serve unique purposes for TDS deductions. Here is a detailed explanation of all the TDS Return Forms and what they entail.
Form 24Q
- 24Q is used for detailed individual tax declarations, including salary payments and deductions.
- 24Q TDS is submitted quarterly by Indian companies and firms.
- Form 24Q requires personal information of the challan, deductor, deductee, and TDS on salary.
- One can easily download and submit this Form online with the required documents.
- The Form is mandatory to be submitted online by government offices and company principal officers.
- Online submission is also needed in Form 24Q for audited accounts under Section 44AB of the Income Tax Act, 1961, or when there are 20+ deductee records in a fiscal quarter.
- Annexure 1 and II under 24Q must be submitted online.
- Annexure II is filed only in the final quarter of the fiscal year.
Form 26Q
- Form 26Q is mandatory for declaring TDS return details.
- 26Q TDS includes payments other than salaries.
- 26Q is required from Indian residents and citizens.
- This TDS return Form is governed by subsection 3 of Section 200 of the Income Tax Act, 1961.
- The Form declares various sections and rules such as 193, 194 I, 194 J, 194 LA, 194 C, 194 D, 194 EE, 194 F, 194 G, 194H, 194, 194A, 194BB, and rule 31A.
- The Form gives you specific insight into the deductor type, whether government or non-government.
- Non-government deductors must provide PAN.
- Government deductors must use “PANNOTREQD”.
Form 27Q
- 27Q is a TDS Return Form used to declare detailed TDS returns by foreigners and NRIs.
- Form 27Q reflects quarterly tax deductions under subsection 3 of Section 200 of the Income Tax Act, 1961.
- Form 27Q covers income payments to foreigners and NRIs, excluding salary income.
- Non-government deductors under Form 27Q TDS must provide PAN details.
- Government deductors use “PANNOTREQD” in this form.
- In Form 27Q, the deductor category is indicated based on Annexure 1.
- It is mandatory to fill all amount columns, noting “0.00” if not applicable.
Form 27EQ
- Form 27EQ TDS is for the Tax Collected at Source (TCS) and is filed quarterly.
- This Form is governed by Section 206C of the Income Tax Act (ITA) for the respective quarter’s end date.
- TCS involves sellers collecting tax from buyers when settling payments.
- This tax collection can happen during transactions involving credit, cheques, cash, demand drafts, etc.
- Employers must mention their TAN in Form 27EQ.
- In Form 27EQ, non-government employers or deductors must furnish PAN details, while government deductors select “PANNOTREQD.”
- The deductor category is determined as per Annexure 1.
- Section code in this Form is based on Annexure II, and reasons for deductions or non-deductions are mentioned in Annexure III.
Form 27D
- Form 27D is applicable under Section 206C of the Income Tax Act, 1961.
- The form reflects tax collected by sellers from buyers during transactions.
- Tax collection occurs when debiting the amount payable to the buyer or receiving payment in cash, DD, cheque, or other methods.
- It specifically applies to goods sold under Section 206C(1) for business purposes.
- TCS is charged on tendu leaves, forest timber (whether leased or not), and other forest products, excluding tendu leaves or timber scrap.
- TCS payment and filing, using Challan 281, are due by the final day of the relevant tax collection month.
How to Download TDS Return Forms?
Downloading Forms 24Q, 26Q, 27Q, 27EQ, and 27D is easy. All you have to do is follow the steps below, and your TDS return Form will be downloaded.
Step 1:Visit the official Protean website and select the “Downloads” option.
Step 2:From the dropdown menu, choose either “e-TDS” or “e-TCS” and then click on “Quarterly Returns.”
Step 3:Go for the “Regular” option, which will redirect you to a new page.
Step 4:On this page, select the respective TDS Return Form matching your specific needs and proceed to download it.
| Quarter | Period | Due Date for Filing Return |
| 1st Quarter | 1st April to 30th June | 31st July 2023 |
| 2nd Quarter | 1st July to 30th September | 31st October 2023 (30th Sept only for Form 26Q and 27Q) |
| 3rd Quarter | 1st October to 31st December | 31st January 2024 |
| 4th Quarter | 1st January to 31st March | 31st May 2024 |