🧾Our Form 143 (Form 27EQ) TCS Service
TCS Consultation
Expert guidance on Section 206C TCS applicability — which goods and services attract TCS, applicable rates, and threshold limits for your business.
Form 143 Filing
Professional preparation and quarterly e-filing of Form 143 (Form 27EQ) on TRACES with complete TCS data accuracy and timely submission.
Challan Guidance
Support in TCS challan payment tracking, verification, and reconciliation. Ensures challans are correctly mapped to collectee details.
Form 133 (Form 27D) Generation
Automated generation of Form 133 (Form 27D) for all collectees — the TCS certificate they need for their own tax credit and compliance.
IT e-Filing & TRACES
Complete Income Tax e-filing and TRACES registration support for TCS return submissions and FVU file upload on the portal.
Expert Support
Ongoing expert support via email, phone & chat during business hours for all TCS-related queries, notices, and corrections.
Who Should Buy This Service?
Sellers of specified goods notified by the Government under Section 206C (e.g., timber, scrap, minerals)
Businesses selling motor vehicles above ₹10 lakhs to buyers — TCS applicable at 1%
Any seller with aggregate sales/receipts over ₹50 lakhs in the previous year (Section 206C(1H))
Operators of parking lots, toll plazas, mines/quarries collecting TCS from their buyers
Important: Every seller of notified goods must collect TCS at the prescribed rate and file quarterly Form 143 (Form 27EQ). Non-compliance attracts a late filing fee of ₹200/day under Section 427 of IT Act 2025 (Section 234E) and penalties up to ₹1 Lakh under Section 461 (Section 271H).
📊TCS Rates Under Section 206C
TCS must be collected at the following rates on sale of specified goods and services. Budget 2026 has rationalized several rates — refer TCS on Receipts Guide for updated rates.
| Nature of Goods / Transaction | TCS Rate |
|---|---|
| Alcoholic liquor for human consumption | 1% |
| Tendu leaves | 5% |
| Timber obtained under a forest lease | 2.5% |
| Timber obtained by any other mode | 2.5% |
| Forest produce other than Tendu leaves and Timber | 2.5% |
| Scrap | 1% |
| Minerals — Coal, Lignite or Iron Ore | 1% |
| Sale of motor vehicle exceeding ₹10 lakhs in value | 1% |
| Sale of goods (aggregate value exceeds ₹50 lakhs in a year) u/s 206C(1H) | 0.1% |
Rates may vary. PAN-not-provided collectees: double the applicable rate or 5%, whichever is higher.
⚙️Our Filing Process
1
Submit Documents
Submit your TAN, PAN, TCS challan copies, collectee details, and total amounts received/collected during the quarter.
2
Expert Review Call
Our TCS expert reviews your documents and calls you before starting the process to clarify the nature of goods/transactions and verify details.
3
Information Exchange
Expert team exchanges information via email and phone, verifies TCS challan mapping, collectee PANs, and rates applied.
4
Form 143 (Form 27EQ) Filing
Preparation and e-filing of Form 143 (Form 27EQ) on TRACES with accurate TCS data, challan mapping, and collectee details for the quarter.
5
Form 133 (Form 27D) Generation
Generate Form 133 (Form 27D) — the TCS certificate — for each collectee. Filing in 1–2 days; Form 27D within 7–15 working days after TRACES acknowledgment.
Processing time: 1–2 working days for Form 143 (27EQ) filing; 7–15 working days for Form 133 (Form 27D) generation after TRACES acknowledgment.
📂Documents to be Submitted
TAN of the Seller
Valid Tax Deduction Account Number (TAN) of the seller / collector responsible for filing the TCS return
PAN & Address of Seller
Copy of PAN and registered address of the seller / collecting entity for TRACES filing
Responsible Person Details
Name, address, PAN, email ID, and mobile number of the person responsible for collecting TCS
TCS Challan Copies
Copies of all TCS challans paid during the quarter — challan number, BSR code, date, and amount
Receipt Details & Dates
Total amount collected from each buyer, date of receipt, and nature of goods / services for the quarter
PAN of All Collectees
Valid PAN of each buyer (collectee) from whom TCS has been collected — required for Form 27D issuance
Nature of Goods / Services
Description of specified goods sold or services provided — determines the applicable TCS rate category
Lower Collection Certificate (if any)
Certificate for lower / nil TCS collection issued by the Income Tax Department to any of the collectees
✅Service Benefits
Faster Service — Dedicated expert team ensures quick turnaround within 1–2 working days for Form 143 (27EQ) filing
FVU Upload Support — Complete support in preparing and uploading FVU (Financial Verification Upload) files to TRACES portal
Challan Guidance — Expert guidance on TCS challan payment, verification, and reconciliation for each collectee transaction
27A PDF Report — Comprehensive Form 27A PDF report covering all TCS details and reconciliation summary for your records
Form 133 (Form 27D) Generation — TCS certificates generated for all collectees within 7–15 working days after TRACES acknowledgment
Post-Service Follow-up — Continued support for any tax department notices, corrections, or queries after filing
Note on Quarterly Filing Deadlines: Form 143 (Form 27EQ) must be filed within 15 days from the end of each quarter — April 15 (Q4), July 15 (Q1), October 15 (Q2), January 15 (Q3). Missing deadlines attracts late fees of ₹200 per day under Section 427 of IT Act 2025 (Section 234E of IT Act 1961). Non-filing within one year attracts penalties from ₹10,000 to ₹1,00,000 under Section 461 (Section 271H).
❓Frequently Asked Questions
What is Form 27EQ (Form 143) and when is it required?
Form 143 (previously Form 27EQ) is the quarterly TCS (Tax Collected at Source) return for sellers of specified goods and services under Section 206C of the Income Tax Act. It is required when any seller collects TCS on the sale of notified goods such as alcoholic liquor, timber, tendu leaves, scrap, minerals, motor vehicles, or when aggregate receipts from goods sales exceed ₹50 lakhs. Refer the TCS on Receipts Guide for more.
What are the different TCS rates under Section 206C / Form 27EQ?
TCS rates under Section 206C vary by type of goods:
- Alcoholic liquor for human consumption: 1%
- Tendu leaves: 5%
- Timber (any mode): 2.5%
- Forest produce (other than tendu leaves and timber): 2.5%
- Scrap: 1%
- Minerals — Coal, Lignite, Iron Ore: 1%
- Sale of motor vehicle above ₹10 lakhs: 1%
- Sale of goods where aggregate exceeds ₹50 lakhs (u/s 206C(1H)): 0.1%
What are the consequences of late filing of Form 27EQ (Form 143)?
Late filing of Form 143 (Form 27EQ) attracts:
- Late filing fee: ₹200 per day from the due date until the filing date under Section 427 of IT Act 2025 (Section 234E of IT Act 1961)
- Maximum late fee is capped at the total TCS amount collected
- Non-filing within 1 year from due date: Penalty of ₹10,000 to ₹1,00,000 under Section 461 of IT Act 2025 (Section 271H of IT Act 1961)
- Non-collection of TCS: Interest at 1% per month from the date TCS was collectible
- Non-deposit of collected TCS: Interest at 1.5% per month from collection date to deposit date
What is the penalty for not filing the TCS statement?
If the TCS statement (Form 143) is not filed within one year from the due date, a penalty of minimum ₹10,000 to maximum ₹1,00,000 is levied under Section 461 of IT Act 2025 (Section 271H of IT Act 1961). Additionally, a late fee of ₹200/day continues to accrue under Section 427 until the statement is actually filed.
Is TCS applicable if the buyer furnishes a declaration that goods are for personal consumption?
Yes, TCS is exempt if the buyer gives a declaration in writing (Form 27C) that the goods are to be used for the purpose of manufacturing, processing, or producing an article, or for the purpose of generation of power and not for trading purposes. In such cases, the seller is not required to collect TCS and need not report that transaction in Form 143 (Form 27EQ). However, the seller must retain the Form 27C declarations for scrutiny.
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