Form 26Q – TDS Return Filing, Forms, Due Dates & Penalties

Last Updated at: December 31, 2019
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Form 26Q - TDS Return Filing, Forms, Due Dates & Penalties

If a person X makes payment to a person Y, the payer X has to deduct TDS on certain occasions. This payment is other than the payment of salary (Non-salary), and the payer has to file TDS return in FORM 26Q.

Form 26Q is submitted every quarter. The total amount paid to the payee during the particular quarter and TDS deducted on such payments have to be furnished in Form 26Q. Form 26Q is applicable to deduct TDS under Section 200(3) of the Income Tax Act, 1961 under Sections 193, 194, 194A, 194B, 194BB, 194C, 194D, 194EE, 194F, 194G, 194H, 194I and 194J. Non-government deductors must quote the PAN, whereas, government deductors must quote “PANNOTREQD” on the form.

List of Sections covered under Form 26Q: 

Section 

Nature of Payment

Section Code

193  Interest on securities 193
194 Dividend 194
194A Interest on than interest on securities 94A
194B Winnings from lotteries and crossword puzzles 94B
194BB Winnings from horse race 4BB
194C Payment of contractor and sub-contractor 94C
194D Insurance commission 94D
194EE Payment in respect of deposit under national savings scheme  4EE
194F Payments on account of re-purchase of Units by Mutual Funds or UTI  94F
194G Commission, prize etc., on sale of lottery tickets 94G
194H Commission or Brokerage 94H
194I (a) Rent 4IA
194I (b) Rent 4IB
194J Fees for Professional or Technical Services  94J
194LA Payment of Compensation on acquisition of certain immovable property 4LA
194LBA Certain income from units of a business trust 4BA
194DA Payment in respect of life insurance policy 4DA
192A Payment of accumulated balance due to an employee from the trustees of the Employees’ Provident Fund Scheme, 1952 92A
194LBB Income in respect of units of investment fund LBB
194IA Payment on transfer of certain immovable property other than agricultural land 9IA
194LBC Income in respect of investment in securitization trust LBC

 

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Deductor Category:

  1. Statutory Body ( Central government)
  2. Statutory Body (State government)
  3. Autonomous Body (Central government)
  4. Autonomous Body (State government)
  5. Local Authority (Central government)
  6. Local Authority (State government)
  7. Company 
  8. Branch/ Division of Company 
  9. Association of Person (AOP)
  10. Association of Person (Trust)
  11. Artificial Juridical Person
  12. Body of Individuals
  13. Individual/HUF
  14. Firm

Due Dates of Filing Form 26Q

Quarter  Due Date
April to June 31st July
July to September 31st October 
October to December 31st January
January to March 31st April

 

Penalties:

If a deductor fails to submit Form 26Q on time, he/she/they will have to face one of the penalties listed below :

  • If a deductor does not file the TDS on the submission date, he/she/they may have to pay a late filing fee.
  • The deductor also has to pay interest levied on the TDS amount, if he misses the submission deadline.
  • A large penalty is levied, if a deductor fails to file TDS and deposit the amount within one year of the actual due date.

The modified rules, effective from April 1, 2017, can make you liable to pay a maximum penalty of Rs. 10,000. 

 

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Form 26Q – TDS Return Filing, Forms, Due Dates & Penalties

2675

If a person X makes payment to a person Y, the payer X has to deduct TDS on certain occasions. This payment is other than the payment of salary (Non-salary), and the payer has to file TDS return in FORM 26Q.

Form 26Q is submitted every quarter. The total amount paid to the payee during the particular quarter and TDS deducted on such payments have to be furnished in Form 26Q. Form 26Q is applicable to deduct TDS under Section 200(3) of the Income Tax Act, 1961 under Sections 193, 194, 194A, 194B, 194BB, 194C, 194D, 194EE, 194F, 194G, 194H, 194I and 194J. Non-government deductors must quote the PAN, whereas, government deductors must quote “PANNOTREQD” on the form.

List of Sections covered under Form 26Q: 

Section 

Nature of Payment

Section Code

193  Interest on securities 193
194 Dividend 194
194A Interest on than interest on securities 94A
194B Winnings from lotteries and crossword puzzles 94B
194BB Winnings from horse race 4BB
194C Payment of contractor and sub-contractor 94C
194D Insurance commission 94D
194EE Payment in respect of deposit under national savings scheme  4EE
194F Payments on account of re-purchase of Units by Mutual Funds or UTI  94F
194G Commission, prize etc., on sale of lottery tickets 94G
194H Commission or Brokerage 94H
194I (a) Rent 4IA
194I (b) Rent 4IB
194J Fees for Professional or Technical Services  94J
194LA Payment of Compensation on acquisition of certain immovable property 4LA
194LBA Certain income from units of a business trust 4BA
194DA Payment in respect of life insurance policy 4DA
192A Payment of accumulated balance due to an employee from the trustees of the Employees’ Provident Fund Scheme, 1952 92A
194LBB Income in respect of units of investment fund LBB
194IA Payment on transfer of certain immovable property other than agricultural land 9IA
194LBC Income in respect of investment in securitization trust LBC

 

Get free legal advice now

Deductor Category:

  1. Statutory Body ( Central government)
  2. Statutory Body (State government)
  3. Autonomous Body (Central government)
  4. Autonomous Body (State government)
  5. Local Authority (Central government)
  6. Local Authority (State government)
  7. Company 
  8. Branch/ Division of Company 
  9. Association of Person (AOP)
  10. Association of Person (Trust)
  11. Artificial Juridical Person
  12. Body of Individuals
  13. Individual/HUF
  14. Firm

Due Dates of Filing Form 26Q

Quarter  Due Date
April to June 31st July
July to September 31st October 
October to December 31st January
January to March 31st April

 

Penalties:

If a deductor fails to submit Form 26Q on time, he/she/they will have to face one of the penalties listed below :

  • If a deductor does not file the TDS on the submission date, he/she/they may have to pay a late filing fee.
  • The deductor also has to pay interest levied on the TDS amount, if he misses the submission deadline.
  • A large penalty is levied, if a deductor fails to file TDS and deposit the amount within one year of the actual due date.

The modified rules, effective from April 1, 2017, can make you liable to pay a maximum penalty of Rs. 10,000. 

 

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