Form 26QC - Income Tax

Form 26QC is an Income Tax Challan-cum-statement of deduction of tax under section 194-IB of the Income Tax Act, 1961. It is used for depositing the tax deducted at source (TDS) on rental payments made to landlords or tenants under section 194-IB.

Any person responsible for deducting tax under section 194-IB, such as a tenant or lessee paying rent to a landlord or lessor, needs to file Form 26QC for depositing the TDS amount with the government.

Form 26QC should be filed on a quarterly basis, within the due dates prescribed for each quarter. The due dates are usually the 7th of the following month for the respective quarter.

Form 26QC can be filed either electronically through the Income Tax Department's website or by physically submitting the challan at an authorized bank branch.

To fill out Form 26QC, you'll need details like the tax deductor's name, PAN, address, tax deduction account number (TAN), assessment year, and the amount of TDS to be deposited.

The primary purpose of Form 26QC is to facilitate the deposit of TDS deducted under section 194-IB on rental payments and to provide a statement of such deductions to the Income Tax Department.

Yes, it is mandatory to quote the Permanent Account Number (PAN) of the tax deductor on Form 26QC. Failure to do so may attract penalties.

You can download and print a copy of Form 26QC from the Income Tax Department's website or obtain a physical copy from an authorized bank branch.

Yes, Form 26QC can be revised or corrected by filing a corrected challan within the same quarter or before the due date for filing the quarterly TDS return.

Failure to file Form 26QC and deposit the TDS amount within the prescribed due dates can attract interest and penalty charges under the Income Tax Act, 1961.