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Home > TDS > TCS On Receipts Last Updated: Dec 05th 2023

TCS On Receipts | Form 27EQ Filing

Section 206C(1) requires that sellers of certain goods are required to collect tax from the buyers at specified rates. The sellers are required to collect taxes and file the returns in Form 27EQ.

It is the responsibility of Seller (Collect) to collect the taxes, pay the taxes to Government and file the TCS returns in Form 27EQ . Buyer is called Collectee.

TCS On Receipts | Form 27EQ Filing |

This document covers

  1. What is Form 27EQ?
  2. Sections covered in Form 27EQ
  3. Due Dates for Filing Form 27EQ
  4. Details required for Form 27EQ
  5. Form 27D
  6. Next Steps

1. What is Form 27EQ?

Form 27EQ is TCS Return. Form 27EQ is a quarterly Statement of collection of tax at source on payments received. The person collecting the tax at source is required to prepare TCS quarterly statement in Form 27EQ and required to submit to NSDL.

2. Sections covered in Form 27EQ

Following are the sections covered in Form 27EQ

  1. Sec 206CA (A) - Alcoholic liquor for human consumption
  2. Sec 206CB (B) -Timber obtained under a forest lease
  3. Sec 206CC (C) - Timber obtained under any mode other than forest lease
  4. Sec 206CD (D) - Any other forest product not being timber or tendu leave
  5. Sec 206CE (E) – Scrap
  6. 206CF (F) - Parking Lot
  7. 206CG (G) - Toll Plaza
  8. Sec 206CH (H) -Mining and Quarrying
  9. Sec 206CI (I) -Tendu leaves
  10. Sec 206CJ (J) -Collection at source from on sale of certain Minerals
  11. Sec 206CK (K) -Collection at source on cash case of Bullion and Jewellery
  12. Sec 206CL (L) -Sale of Motor vehicle
  13. Sec 206CM (M) -Sale in cash of any goods
  14. Sec 206CN (N) -Providing of any services
  15. Section 206CO(O) -Overseas Tour Program Package
  16. Section 206CP(P) - Remittance under LRS for education loan taken from financial institution mentioned under section 80E
  17. Section 206CQ(Q) - Remittance under LRS (for purpose other than for purchase of overseas tour package or for education loan taken from financial institution mentioned under section 80E)
  18. Section 206CR(R) - Sale of Goods

3. Due Dates for Filing Form 27EQ

Form 27EQ is required to be filed on quarterly basis. The following are the due dates for filing form 27EQ

  1. For April to June – July 15
  2. For July to Sep – Oct 15
  3. For Oct to Dec – Jan 15
  4. For Jan to March – May 15

4. Details required for Form 27EQ

The following are the details required for Form 27EQ filing

  1. TAN and PAN of Collector (Seller).
  2. Address of Collector (Seller).
  3. PAN and Address of Responsible Person (Director in case of Pvt Ltd, Partner in case of Partnership/LLP. Proprietor in case of Proprietorship).
  4. Challans Paid.
  5. Name and Pan of Collectees.
  6. Date of Receipt and amount of Receipt.
  7. Collection Code (A/B/C/D/E/F/G/H/I/J/K/L/M/N/O/P/Q/R).
  8. Rate of tax Collection.
  9. Date Of tax collection.

5. Form 27D

Form 27D is the TCS certificate to be issued by Seller (Collector) to Buyer (Collectee) in respect of tax collected in respect of payment received. Form 27D should be given by the Seller to Buyer within 15 days of Form 27EQ filing unless due dates extended

6. Next Steps

Contact Team to prepare TDS and file your taxes either through Expert Services or through Online Software @

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Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.