Basics About
TDS
How and When to file TDS returns?
How a taxpayer can file e-TDS Return?
According to the Income Tax Department and NSDL, taxpayers are required to file e- TDS returns according to the type of payment.
Quarterly TDS return forms are required to be filed at 24Q, 26Q, and 27Q.
Different Types of TDS Return Forms
| Name of TDS Return Forms | Details of the TDS Return Forms |
| Form 24Q | Statement for TDS from salaries. |
| Form 26Q | Statement for TDS from all payments other than salaries. |
| Form 27Q | Statement for TDS from additional income like interest, dividends, or any other amount payable to NRI (foreigners). |
| Form 27EQ | Statement for TCS (tax collected at source) |
Form 24Q – Statement for TDS from Salaries
This form must be submitted by the deductor each quarter. This includes details such as salary paid and TDS deducted by the employer.
Form 26Q – Statement for TDS From all Payments Other Than Salaries
Form 26Q is used for TDS on all payments except salaries. It must be submitted by the deductor every quarter on income such as dividend securities, interest on securities, directors’ remuneration and professional fees.
Form 27Q – Statement for TDS from Additional Income like Interest, Dividends, or any other amount Payable to NRI (Foreigners)
Form 27Q is relevant for payments made to non-resident Indians and foreigners except the salary. It is the declaration of TDS for the NRIs and Foreigners. Form 27Q is submitted every quarter by the deductor.
Form 27EQ – Statement for TCS (Tax Collected at Source)
Form 27EQ refers to the TCS quarterly statement that reflects the details of TDS u / s 206C of the Income Tax Act of 1961. It can also be called as the statement that provides the Tax Collected at Source. (TCS).
TCS is the tax collected by the seller. When a buyer buys some products. the seller collects the buyer’s tax through the TCS route.
