Form 26Q- TDS Return Filing for Non Salary Deductions, Deposit, Certificate (2024)

FAQs

How to file non-salary TDS return? ›

Form 26Q is a TDS return form primarily used for deducting tax at source on various types of payments, excluding salaries. It is filed quarterly by the deductor to report details of TDS deducted and deposited with the Income Tax Department.

Navigate to the 'Downloads' tab and select e-TCS or e-TDS from the drop-down menu. Next, select the 'Quarterly Returns' option and click on 'Regular'. You will be redirected to a new page where you can view the 'Form' section. Select form 26Q from this section and click on download.

Penalties for late filing of 26Q

Late Filing Fees – under section 234E, a fine of Rs. 200 per day is to be paid until the return is filed. This amount has to be paid for each day until total fine becomes equal to the TDS amount.

Difference between Form 24Q and Form 26Q

Form 24Q should be filed and submitted for Return of Tax Deducted at Source on salary payments. Form 26Q, on the other hand, should be filed and furnished for Return of Tax Deducted at Source details on domestic payments other than salary.

Step 1: Open Web-e-TDS and click on 'Revised Return' option on the menu. Step 2: On clicking 'Revised Return' a new screen will appear. Here click on 'Import Consolidated File' option. Step 3: Now you can select the consolidated file from the given location and the data would be imported to the software.

This amount is supposed to be deposited on or before the 7th of the following month. However, for the TDS deducted in March, the amount can be deposited till 30th April. For the TDS deducted on the purchase or rent of property, the due date is 30 days from the end of the month in which the amount is deducted.

Form 26QD Due Date

The due date is within 30 days from the end of the month in which you made the payment. For example, if you paid on 1st December 2023, the due date for TDS payment is on or before 30th January 2024. In addition to the above due dates, the deductor must remember to furnish Form No.

The employer has to file salary TDS return in Form 24Q. 24Q is to be submitted on a quarterly basis. Details of salary paid to the employees and TDS deducted on such payment is to be reported in 24Q. You can easily file your TDS returns through ClearTax software i.e. ClearTDS.

What is 26AS in TDS? ›

Form 26AS is a statement that provides details of any amount deducted as TDS or TCS from various sources of income of a taxpayer. It also reflects details of advance tax/self-assessment tax paid, and high-value transactions entered into by the taxpayer.

An assessee is required to file a NIL TDS return only when the payment is subject to TDS, but no tax has been deducted at the source because the deductee has shown the assessing officer a certificate stating that the tax rate is NIL.

Any individual who is liable to deduct TDS but fails to deduct it wholly or partly, or does not pay it to the government, will be subject to pay interest. The interest rate is: One percent per month or part of a month on the TDS amount from when TDS was to be deducted.

You can submit Form 15G/Form 15H to request that no TDS be deducted since tax on your total income is nil.

Access TRACES portal and log in using your Credentials ID. Navigate to the "Statement/Payments" tab after logging in and locate the "Declaration for Non-Filing of TDS statement" page. Enter the required details, including the Financial Year, Quarter, Form Type, and the reason for non-filing of the return.

Form 27Q is a TDS Return or Statement containing details of Tax Deducted at Source (TDS) deducted on payments other than salary made to Non-Resident Indian (NRI) and foreigners. Form 27Q is required to furnish on a quarterly basis on or before the due date.

Form 15G is a declaration that can be filled out by fixed deposit holders (individuals less than 60 years of age and HUFs) to ensure no TDS is deducted from their interest income for the fiscal year. Form 15G is available under Section 197A of the Income Tax Act of 1961.