Skip to main content
Languages
TAXAJ Corporate Services LLP - Financial Doctors

TDS Return other than Salary Payments (Form 26Q)

This plan enables you to file your quarterly TDS returns related to all specified payments where TDS is required to be deducted, and return is required to be filed via Form 26Q without any hassles. A delay in filing the returns attracts interest and penalty levied by the Tax Department. Hence, paying TDS within the due date is essential, and subsequent return filing is equally crucial.

Page 1Created with Sketch.

About This Plan

File your returns with TAXAJ and avoid tax notice
Created by potrace 1.15, written by Peter Selinger 2001-2017

Timeline

It usually takes 3 to 5 working days.

Services Covered
Who Should Buy
How It's Done
Documents Required
Services Covered

  • Registration on TRACES
  • Form 26Q upto 10 deductees (1 no.)
  • Bulk PAN Verification
  • Challan Verification
  • Online FVU Generation and Submission
  • Generation of Form 16A
Who Should Buy
  • Any individual who is required to make a payment other than salary and has to deduct TDS
  • Any organisation such as corporate, partnership firm etc required to make specified payments (other than salary) after deduction of TDS
  • Any branch of principal business office
How It's Done

    • Purchase of plan
    • FIll in the details in the template provided
    • Upload documents on vault
    • Return form prepared by Tax Expert
    • Generation of Form 16 & 16A
Documents Required
  • Details of deductor
  • Details of responsible person
  • Details of deductee
  • Challan details
  • Deduction details

New TDS Section 194R for TDS on Perquisites and Benefits in Business Parlance!

TDS Rate Charts for the FY 2023-24 and FY 2024-25

SectionDeductee* Nature of transactionThreshold Limit (Rs)TDS Rate
192R, NRPayment of salaryBasic exemption limit of employeeNormal Slab Rates
192AR, NRPremature withdrawal from EPF50,000 10% 
193RInterest on securitiesDebentures- 5,000 10%
193RInterest on securities8% Savings (Taxable) Bonds 2003 or 7.75% Savings (Taxable) Bonds 2018- 10,000   10%
193ROther securities- No limit10%
194RPayment of any dividend5,00010%
194ARInterest from other than interest from securities (from deposits with banks/post office/co-operative society)Senior Citizens- 50,000 
Others- 40,000
10%
194ARInterest from other than interest on securities u/s 193 and interest from banks/post office/co-operative society. 
For e.g., interest from friends and relatives
5,00010%
194BR, NR, FCIncome from lottery winnings, card games, crossword puzzles, and other games of any typeAggregate income from lottery winnings, card games, crossword puzzles etc- 10,000 
Online Gaming - Refer 194BA
30%
194BAR, NR, FCIncome from online gamesNil30%
194BBR, NR, FCIncome from horse race winnings10,000 (Aggregate winnings during a financial year not single transaction)30%
194CRPayment to contractor/sub-contractor:-Single transaction- 30,000 
Aggregate transactions- 1,00,000
  

a) Individuals/HUF 1%
b) Other than Individuals/HUF2%
194DRInsurance commission to:15,000
a) Domestic Companies 10%
b) Other than companies 5%
194DARIncome from the insurance pay-out, while payment of any sum in respect of a life insurance policy.1,00,0005% (before 1st October 2024)
2% (from 1st October 2024)
194ENR, FCPayment to non-resident sportsmen/sports associationNo limit20% 
194EER, NRPayment of amount standing to the credit of a person under National Savings Scheme (NSS)2,50010%
194FR, NRPayment for the repurchase of the unit by Unit Trust of India (UTI) or a Mutual FundNo limit20%
This section is omitted with effect from 1st October 2024
194GR, NR, FCPayments, commission, etc., on the sale of lottery tickets15,0005% (before 1st October 2024)
2% (from 1st October 2024)
194HRCommission or brokerage15,0005% (before 1st October 2024)
2% (from 1st October 2024)
194-IRRent:2,40,000
194-I(a) Rent on palnt & machinery 2%
194-I(b) Rent on land/building/furniture/fitting 10%
194-IARPayment in consideration of transfer of certain immovable property other than agricultural land.50,00,0001%
194-IBRRent payment by an individual or HUF not covered u/s. 194-I50,000 per month5% (before 1st October 2024)
2% (from 1st October 2024)
194-ICRPayment under Joint Development Agreements (JDA) to Individual/HUFNo limit10
194JRAny sum paid by way of fee for professional services30,00010%
194JRAny sum paid by way of remuneration/fee/commission to a director30,00010%
194JRAny sum paid for not carrying out any activity concerning any business;30,00010%
194JRAny sum paid for not sharing any know-how, patent, copyright, etc.30,00010%
194JRAny sum paid as a fee for technical services30,0002%
194JRAny sum paid by way of royalty towards the sale or distribution, or exhibition of cinematographic films30,0002%
194JRAny sum paid as fees for technical services, but the payee is engaged in the business of operation of the call center.30,0002%
194KRPayment of any income for units of a mutual fund, for example, dividendNo limit10%
194LARPayment in respect of compensation on acquiring certain immovable property2,50,00010%
194LBNR, FCPayment of interest on infrastructure debt fund to Non-ResidentNo limit5% 

  
194LCNR, FCPayment of interest for the loan borrowed in foreign currency by an Indian company or business trust against loan agreement or the issue of long-term bondsNo limit5%
194LCNR, FCPayment of interest for the loan borrowed in foreign currency by an Indian company or business trust against the issue of long-term bonds listed in IFSCNo limit4%
194LDNR, FCPayment of interest on bond (rupee-denominated) to FII or a QFINo limit5%
194LBA(1)RCertain income distributed by a business trust to its unitholder No limit10%
194LBA(2)NR, FCInterest income of a business trust from SPV distribution to its unitholdersNo limit5%
194LBA(2)NR, FCDividend income of a business trust from SPV, in which it holds the entire share capital exempt the capital held by the government, and distribution to its unitholdersNo limit10%
194LBA(3)NRRental income payment of assets owned by the business trust to the unitholders of such business trustNo limit30%
194LBA(3)FCRental income payment of assets owned by the business trust to the unitholders of such business trustNo limit40%
194LBBRCertain income paid to a unitholder in respect of units of an investment fundNo limit10%
194LBBNRCertain income paid to a unitholder in respect of units of an investment fundNo limit30%
194LBBFCCertain income paid to a unitholder in respect of units of an investment fundNo limit40%
194LBCRIncome from investment in securitisation fund received to an individual and HUFNo limit25%
194LBCNRIncome from investment in securitisation fund received to a domestic companyNo limit30%
194LBCFCIncome from investment in securitisation fund received to a foreign companyNo limit40%
194MRCertain payments by Individual/HUF not liable to deduct TDS under Section 194C, 194H, and 194J50,00,0005% (before 1st October 2024)
2% (from 1st October 2024)
194NR, NRCash withdrawal exceeding a certain amountCo-operative society: 3 Crore 2%

Others: 1 crore 2%
194NR, NRCash withdrawal in case person not filing ITR for last three years and the original ITR filing due date expired- 20 lakh to 1 crore 2% 

-1 crore5% *If cash is withdrawn by a co-operative society the limit shall be Rs 3 Crore instead of Rs 1 Crore 
194ORPayment for the sale of goods or provision of services by the e-commerce operator through its digital or electronic facility or platform.5,00,0001% (before 1st October 2024)
0.1% (from 1st October 2024)
194PRPayment of pension or interest to specified senior citizens of age 75 years or moreBasic exemption limit of senior citizens or super senior citizensNormal tax slab rates
194QRPayments for the purchase of goods50,00,0000.10%
194R RPerquisite or benefit to a business or profession20,00010%
194S RTDS on the transfer of virtual digital assetsSpecified Persons- 50,000 1%
Specified persons: Individual or a HUF not having income from business or profession OROthers- 10,000
195NRIncome on investments made by NRI citizenNo limit20%
195NRIncome by way of LTCG referred to in section 115E in the case of NRINo limit10%
195NR, FCIncome by way of LTCG under section 112(1)(c)(iii)No limit10%
195NR, FCIncome by way of LTCG under section 112ANo limit10%
195NR, FCIncome by way of STCG under section 111ANo limit15%
195NR, FCAny other income by way of LTCGNo limit20%
195NR, FCInterest payable on money borrowed by the government or Indian concern in foreign currencyNo limit20%
195NR, FCIncome from royalty payable by the Indian concern or the government, for the copyright in a subject referred in the first proviso of section 115A or computer software referred to in the second proviso of section 115ANo limit20%
195NRIncome from royalty payable by government or Indian concern in pursuance of an agreement on matters included in the industrial policyNo limit20%
195FCIncome from royalty payable by government or Indian concern in pursuance of an agreement on matters included in the industrial policy No limit50%
If the agreement for such royalty payment is entered after 31st March 1976
195FCIncome from royalty payable by government or Indian concern in pursuance of an agreement on matters included in the industrial policy No limit20%
If the agreement for such royalty payment is entered after 31st March 1976
195NRIncome from technical fees payable by government or Indian concern in pursuance of an agreement on matters related to industrial policyNo limit20%
195FCIncome from technical fees payable by government or Indian concern in pursuance of an agreement on matters related to industrial policy No limit50%
If the agreement for such payment is entered in between 29th February 1964 and 1st April 1976
195FCIncome from technical fees payable by government or Indian concern in pursuance of an agreement on matters related to industrial policy No limit20%
If the agreement for such payment is entered after 31st March 1976
195NRAny other incomeNo limit30%
195FCAny other incomeNo limit40%
196BNR, FCIncome (including LTCG) from units of an offshore fundNo limit10%
196CNR, FCIncome (including LTCG) from foreign currency bonds or GDR of an Indian companyNo limit10%
196DNR, FCIncome (excluding dividend and capital gain) from Foreign Institutional Investors.No limit20%
206ABRPayment to non-filers, i.e. those who have not filed their income tax return in the last year 
Non-filers do not include: 
- People who are not required to file their ITRs 
- NRs who do not have a PE in India
No limit- 2 times the rate given in the Income Tax Act or Finance Act or 
206AAR, NR, FCTDS rate in case of Non availability of PANNo limitRates specified above or 20%, whichever is higher

*”R” denotes Resident, 
“FC” denotes Foreign company, and 
“NR” denotes Non-Resident.

Note: 

  1. The Normal slab rates from FY 2023-24 for individuals and HUF have changed under the new tax regime. from FY 2023-24 for individuals and HUF have changed under the new tax regime.
  2. Applicable surcharge and health and education cess shall be deducted in addition to the TDS rates deducted for NRI and FC deductees.
  3. In the above TDS rate chart, the ‘Resident’ payee under the column ‘TDS deducted’ includes domestic companies.
  4. All TDS amendments introduced in Budget 2023 have been included in the TDS chart above.

Details to be mentioned in 26Q

As against 24Q which contains 2 annexures, Form 26Q contains only one annexure. Challan details (BSR code, date of payment, total amount etc.), details of deductor and deductees are to be mentioned. Along with this, if the deductor hasn’t either deducted TDS or deducted it at a lower rate, reasons are also to be mentioned in the form.

Due Date to file Form 26Q

April to June - 31st July

July to Sept - 31st Oct

Oct to Dec - 31st Jan

Jan to Mar - 31st May

Rate of Interest on delayed payment of TDS

If TDS is not deducted – 1% per month, from due date of deduction to actual date of deduction.

Penalties for late filing of Form 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. The penalty under 271H – In addition to fees to be paid under 234E, AO may charge the penalty of minimum Rs. 10,000 and maximum Rs. 1,00,000/-

No penalty will be charged under 271H if –

  • TDS is deposited to the government
  • Late filing fees and interest (if any) is also deposited,
  • Return is filed before expiry of 1 year from due date

Remember these points

  • Verify all the PAN numbers,
  • Verify the challans, and try to match them through OLTAS or NSDL
  • Signed Form-27A is to be filed with the TDS return

Frequently Asked Questions:

Q. What is TDS in salary and other payment?
TDS, or Tax Deducted at Source, is a tax levied by the Indian government wherein taxes are collected based on 'pay as you get'. The taxes are deducted at payment sources such as salary paid to an employee or other commissions earned by a broker. The employer deducts the taxes before making the payment to the employee and is deposited with the govt. The employer later issues form 16 to its employees and form 16B to other deductees, which serves as proof of tax payment in their hands.

Q. Is their any interest and penalty for non or late filing of Form 24Q & Form 26Q?
In case you have not deposited TDS by the due date, the following penalties are applicable:
👉 Late filing fee (if you do not file by the deadline)
👉 Interest (if you do not deposit the TDS amount in time)
👉 Penalty (if TDS is not filed within one year of the due date)

Q. Do all deductors require to quote their PAN?
It is compulsory to quote the PAN for non-Government deductors, whereas "PANNOTREQD" has to be mentioned on the form in the case of Government deductors.

Q. What is form 26Q?
Form 26Q is submitted for TDS details on all payments other than salary every quarter by the deductor. Form 26Q is applicable for TDS deducted under section 200(3) of the Income Tax Act for TDS under sections 193 & 194 being interest on securities, Dividend securities, professional fees, directors' remuneration etc.

Q. When is online return mandatory?
For certain people, it is compulsory to submit the quarterly return online if the deductor is: A Government office A company’s principal officer Assessee who Is required to have their accounts audited for the prior year under 44AB of the Income Tax Act, 1961. Suppose there are 20 or more records of deductees in a statement for any quarter of a particular financial year. TAXAJ Experts will guide you on the same.

Q. I need to deduct TDS returns for more than 10 vendors. Can you advise?
Our plan offers TDS returns filing for 100 employees of a single firm. For companies with more than 100 employees will get a customized fee plan from our experts