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TDS Form 26Q – TDS Return Filing for Non Salary Deductions

TDS Form 26Q

TDS Form 26Q – Non-Salary Deductions

When a taxpayer pays taxes, the payee deducts TDS on certain occasions. 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. Form 26Q has to be submitted on a quarterly basis. In this article, we look at the various aspects of TDS Form 26Q in detail.

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Applicability of Form 26Q

Form 26Q is applicable for TDS under Section 200(3) of the Income Tax Act, 1961 as per Sections 193, 194, 194A, 194B, 194BB, 194C, 194D, 194EE, 194F, 194G, 194H, 194I and 194J. Form 26Q is a statement made for tax deducted at source for all payments except salaries. While submitting Form 26Q, a deductor has to submit TAN.

Know more about TDS Form 24Q for salaries.

Sections Under 26Q

The following are the sections that are covered under 26Q and for which TDS details must be filed in Form 26Q.

  • 192 – No TDS at source from salaries
  • 192A – No TDS from payment of PF account of an employee
  • 193 – No TDS from interest paid on debentures issued by a company in which public are substantially interested. Provident interest is paid by account payee cheque to resident individual or HUF
  • 194 – No TDS from dividend paid by account payee cheque to resident persons
  • 194A – No TDS from interest other than on securities paid by a banking company or co-operative bank on time deposits
  • 194B – No TDS from Lottery/ Cross Word Puzzles
  • 194BB – No TDS from winnings from horse races
  • 194C – No TDS from sum paid or payable to contractor
  • 194D – No TDS from insurance commission paid or payable during the financial year
  • 194DA – No TDS from sum payable under a life insurance a police (including bonus) to a resident
  • 194EE – No TDS from payments made out of deposits under NSS
  • 194F – Payments made on account of repurchase of units by Mutual Funds or UTI 94F
  • 194G – No TDS from commission paid on lottery tickets
  • 194H – No TDS from payment of commission or brokerage
  • 194I(a) – No TDS from payment of consideration for purchase of an immovable property (other than agriculture land)
  • 194I(b) – No TDS on payment of rent of any land or building or both by an individual/HUF [whose books of account are not required to be audited under section 44AB] to resident person.
  • 194J – No TDS from payment of professional fees, technical fees, royalty and directors’remuneration
  • 194LA – No TDS from payment of compensation for compulsory acquisition of immovable property (other than Agricultural Land)
  • 194LBA – Certain income received from units of a business trust
  • 194DA – Payment in respect of a life insurance policy
  • 194LBB – Income received in respect of units of an investment fund
  • 194IA – Payment made for transferring certain immovable property other than agricultural land 9IA
  • 194LBC – Income received by investing in the securitization trust

Form 26Q

Unlike Form 24Q, Form 26Q contains only one annexure. Challan details including BSR Code, date of payment, total amount, details of the deductor and the deductees have to be mentioned. If the deductor has not deducted TDS or has deducted it at a lower rate, the reasons for the same have to be mentioned in this form.

Due Date of Filing 26Q

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

Rate of Interest of Form 26Q

  • If TDS is not deducted, an interest of 1% per month would be levied from the due date of deduction to the actual date of deduction.
  • If TDS is not deposited, an interest 1.5% per month would be levied from the actual date of deduction to the actual date of payment.

Late Filing of Form 26Q

According to Section 234E, a late filing fine of Rs. 200 per day would be charged that has to be paid until the return is filed. This amount has to be paid by the taxpayer until the total fine is equal to the TDS amount.

Penalty for Filing Form 26Q

In addition to the penalty fee paid under Section 234E, AO charges a penalty of a minimum of Rs. 10,000 and a maximum of Rs.1,00,000. However, no penalty would be charged under Section 271H if

  • TDS is deposited to the government.
  • Late filing and interest id deposited.
  • Return is filed before the expiry of due date.

Downloading Form 26Q

The following are the steps that are required to download Form 26Q.

Step 1: Log in to the website

The taxpayer has to login to the official website.

Step 2: Click Downloads

The taxpayer has to click the ‘Downloads’ tab and then choose E-TDS/E-TCS from the drop-down list menu.

Step 3: Click Quarterly Returns

The taxpayer has to click ‘Quarterly Returns’ and then choose ‘Regular’. By clicking this option, the taxpayer is redirected to a new page.

Step 4: Select Form 26Q

Under ‘Form’, the taxpayer has to click Form 26Q to download.

Form 26Q