TDS on Payments Other than Salaries | Form 26Q Filing

Every Person (both Corporate and Non-Corporate) making payments specified in Income Tax are required to deduct the tax at source. The Person who is making the payment is called deductor and the person to whom the payment is made is called Deductee

It is the responsibility of deductor to deduct the taxes, pay the taxes to Government and file the TDS returns.

TDS on Payments Other than Salaries (Form 26Q)

TDS on Payments Other than Salaries to be captured through Form 26Q quarterly statement. Explains TDS on Payments Other than Salaries, applicability, threshold limits, rates of TDS, Time of Deduction, requirements to prepare TDS return and filing.

This document covers

What is Form 26Q?
Sections covered in Form 26Q
Due Dates for Filing Form 26Q
Details required for Form 26Q
Form 16A
Next Steps

1.What is Form 26Q?

Form 26Q is one type of TDS Return. Form 26Q is a quarterly Statement of deduction of tax for payments other than Salary.

More on Form 26Q & Services

1. Payments other than Salaries (Form 26Q) TDS Return Service & Pricing

2. Form 26Q Self Service Filing

3. Form 26Q Expert Filing Service

2. Sections covered in Form 26Q

Following are the section covered in Form 26Q

192A- Payment of Accumulated balance due to an employee
193- Interest on securities
194- Dividend
194A- Interest other than interest on securities
194B- Winnings from lotteries and Crossword puzzles
194BB- Winnings from Horse race
194C- Payment of Contractors and Sub Contractors
194D- Insurance Commission
194DA- Payment in respect of life insurance policy
194EE-Payments in respect of deposits under National Savings Schemes
194F- Payments on account of repurchase of Units by Mutual Funds or UTIs
194G-Commission, prize etc., on sale of lottery tickets
194H-Commission or Brokerage
194-I(a)- Rent on Plant and Machinery
194-I (b)-Rent on Land/Building
194J(a)- Fees for Technical Services (not being professional service), royalty for sale, distribution or exhibition of cinematographic films and call center(@2%)
194J(b)- Fee for professional service or royalty etc (@10%)
194K- Income in respect of units
194LA- Payment of Compensation on acquisition of certain immovable property
194LBA(a)- Certain income in the form of interest from units of a business trust to a resident unit holder
194LBA(b)- Certain income in the form of dividend from units of a business trust to a resident unit holder
194LB-Income in respect of units of investment fund
194LBC-Income in respect of investment in securitization trust
194N- Payment of certain amounts in cash
194NF- Payment of certain amounts in cash to non-filers
194-O-Payment of certain sums by e-commerce operator to e-commerce participant
194Q- Payment of certain sums for purchase of goods
194R - Payments of benefits or perquisites of business or profession
194S - Payment of consideration for transfer of virtual digital asset by persons other than specified persons

3. Due Dates for Filing Form 26Q

Form 26Q is required to be filed on quarterly basis. The following are the due dates for filing form 26Q

For April to June – July 31
For July to Sep – Oct 31
For Oct to Dec – Jan 31
For Jan to March -May 31

4.Details required for Form 26Q

The following are the details required for Form 26Q filing

TAN and PAN of Deductor
Address of Deductor
PAN and Address of Responsible Person (Director in case of Pvt Ltd, Partner in case of Partnership/LLP. Proprietor in case of Proprietorship)
Challans Paid
Name and Pan of Deductees
Date of payment and amount of payment

5.Form 16A

Form 16A is the TDS certificate to be issued by deductor to deductee in respect of tax deducted or tax deposited under above sections. Form 16A should be given by the deductor to deductee within 15days of filing.