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Form 26Q – Download Process and Due Dates

Last Update Date : December 12, 2018

importance of form 26q

When it comes to filing of income tax return, there come various forms that are expected to be filled and submitted by the taxpayer based on his category like Individual, Business Return, GST etc. Let’s get to know more about one such document – ‘Form 26Q’.

What is Form 26Q?

The declarations of payments that are made by the Payer to the Payee other than salary are supposed to file TDS return in Form 26Q. All the TDS deduction details will be furnished by the Payer or Deductor in this form and submit to the Income Tax Department on a quarterly basis.

To prevent tax evasion, a certain amount of tax is deducted against certain income earned by the payer. These incomes can also be on accrual basis. Here the person who is responsible to make payments on such income is supposed to deduct the tax as per the tax rate before the actual payment is made to the payer. The TDS thus deducted will be deposited to the Government, and a TDS return gets filed before the due date.

Form 26Q is applicable for TDS as per Section 200 sub-section (3) of Income Tax Act, 1961 which is a TDS statement for all non-salary payments submitted by the Deductor along with his TAN number. TAN number is required to make TDS deductions towards specific payments made by the companies, partnership firms or those who come under tax audit etc.

The Government deductors need not declare PAN on Form 26Q whereas Non-Government deductors should declare their respective PAN number.
All the payments paid in a specific quarter along with TDS amount deducted and the person to whom payment is made will be furnished in the Form 26Q for that respective quarter.

Points to Remember

  • The non-Government deductors should mention their PAN number whereas Government deductors can mention “PANNOTREQD” on the form.
  • Form 26Q is submitted on a quarterly basis to declare the TDS return as per the payments other than salary for residents and citizens of India.
  • The Form 26Q is applicable for various sections like 193, 194, 194A, 194BB, 194C, 194D, 194EE, 194F, 194G, 194H, 194I, 194J, 194LA along with rule 31A to declare the TDS return in detail for the payments made other than salary.
  • In case of TDS on property, Form 26QB is applicable in place of Form 26Q.

Types of Income

There are various types of income, and few are mentioned below:

  • Winnings from Lottery and Horse Races
  • Interest on Securities, Dividends
  • Payments to Resident Contractors, Insurance Commission payment
  • Interest Payments to Non-Residents or Non- Indian Companies
  • Payment in the form of Rent
  • Fee payment for professional/technical services etc

Download Process of Form 26Q

Form 26Q is divided into 4 categories as approved by the Income Tax Department and here is the process below to download Form 26Q.

Step 1: Open the NSDL website. (1)

Step 2: Select “Downloads” to choose “e-TDS/e-TCS option.

Step 3: Now select “Quarterly Returns” and choose “Regular” option.

Step 4: A new page opens and select “Form 26Q” to download and proceed further.

Sections Covered in 26Q

There are different types of payments made which would be identified with a unique Section number as per the Income Tax Department. Form 26Q can be submitted against many payments made where TDS is deducted while making payment by the Deductor. In short Form, 26Q is for filing the TDS return that has all the payment details along with TDS deducted for that quarter by the Deductor.

Here are few sections that are covered in Form 26Q.

Section Type of Payments
193 Interest on securities
194 Dividend
194A Interest other than Interest on Securities
194B Winnings from lotteries, crossword puzzles etc.,
194BB Winnings through horse race
194C Contractor and Sub-Contractor payments
194D Commission from Insurance
194E Non-Resident Sportsman/Sports Association payments
194EE National Savings Scheme payments
194F Payments towards repurchase of Units by Mutual Funds along with UTI 94F
194G 194G – Commission, prize etc., received on sale of lottery tickets
194H 194H – Brokerage / Commission
194I(a)&(b) Rent
194J Fees paid towards Professional/Technical Services
194LA Payment through Compensation on acquiring certain immovable property
194LBA Income earned from Business Trust units
194DA Life Insurance Policy payments
194LBB Income towards investment fund
194IA Payment on transfer of immovable property other than agricultural land 9IA
194LBC Income through Investment in securitisation trust

e-Filing Procedure and Charges of Submission – Form 26Q

Form 26Q has one Annexure where one must mention the Challan details like BSR Code, Payment Date, Amount, Deductor and Deductee details.

The TDS return can be directly furnished on the NSDL website online along with the Digital Signature. Once the return is accepted and filed, a provisional receipt that has ‘token number’ is issued that acts as an acknowledgement to the taxpayer. In case of any discrepancies, a ‘non-acceptance memo’ is issued stating the reason for not accepting the return.

Let us look at the charges as below for submitting the TDS return.

Deductee Records Number Charges (excl service tax)
Returns upto 100 records 31.15/-
Returns between 101 – 1000 records 178/-
Returns of more than 1000 records 578.50/-

How to check TDS return status

One can check the status of their TDS return online through the NSDL website (2) by furnishing the PAN number along with Provisional Receipt/Token number.

Due Date and Penalties for Late Filing of 26Q

As per Section 206, its mandatory for the below assesses to e-file the TDS return. All other assesses can submit their return either physically or through online mode.

  • All the Government Deductors/Collectors as per Finance Act 2004 along with Corporate Deductors/Collectors
  • An online return needs to be filed where the number of Deductees/Collectees quarterly statement records of one quarter immediately preceding financial year is equal to or more than 20 records
  • All Deductors/Collectors whose accounts are to be audited as per Section 44AB in the immediately preceding year

The due date to file TDS online and physical return is as follows:

Quarter Due Dates for Form 24Q & Form 26Q
April to June 31st July
July to September 31st October
October to December 31st January
January to March 31st May

The Assessee is expected to file the TDS return as per Section 234E before the due date, or else he is liable to pay a penalty of Rs. 200 per day along with interest till the return is filed within one year.

But it must be noted that the penalty of Rs. 200 per day shouldn’t exceed the TDS deducted in the return. In addition to this, it shouldn’t be less than Rs. 10,000 and not more than Rs. 1,00,000.

TDS Return and Revision

An assessee can revise his return in case it’s incorrectly e-filed along with the charges mentioned above towards the revised return.

People Also Ask

Q. What are the forms to be used for filing quarterly TDS/TCS returns?

A. Form 26Q – A quarterly statement of TDS against all payments made other than ‘salaries.’
Form 24Q – A quarterly statement of TDS from ‘salaries.’
Form 27EQ – It’s a quarterly statement of tax collected at source

Q. Are the forms for e-TDS/TCS return same as for physical returns?

A. As prescribed by the Income Tax Department, CBDT these forms are similar for electronic and physical return. However, e-TDS/e-TCS return has to be prepared by the file format as per ITD.

Q. Can a challan for quarter 1,2,3 & 4 be added together?

A. No. One challan for each quarter needs to be filed, and there is no option to file for multiple quarters against one challan number.

Q. Can I import challan through excel sheet?

A. Yes, a challan can be imported through excel file along with the tax deduction details.

Q. Is there any software for preparation of e-TDS / TCS return?

A. A free Return Preparation Utility (RPU) is available on NSDL website to prepare e-TDS/e-TCS statements or get the software from various third-party vendors.
There is a list that is made available of such vendors on https://www.tin-nsdl.com/ website.

Q. What is Challan Number?

A. The branch of a bank issues the Bank Challan Number where the TDS is deposited along with a Receipt Number for every challan.

Q. Is PAN Number mandatory for deductors and Deductee/employees?

A. PAN number is mandatory for all Non-Government Deductors. Also, PAN of all Deductee’ s needs to be mentioned accordingly.

Q. Is there a difference between Form 26Q and 24Q?

A. Form 26Q is a statement other than salaries whereas Form 24Q is the TDS statement applicable for salaries.

We are now clear that a Deductor files the TDS return through Form 26Q on a quarterly basis within the due date for all non-salary payments. In case of non-filing, a penalty along with Interest is levied as per the Income Tax Department. The CBDT has made available a free Return Preparation Utility (RPU) on the NSDL website for the filers. Also, there are other software download options from third-party vendors.

How H&R Block can help you?

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