What is the due date for TDS return filing in India?

TDS returns (Form 24Q and 26Q) are filed quarterly: Q1 (April–June) by 31st July, Q2 (July–September) by 31st October, Q3 (October–December) by 31st January, and Q4 (January–March) by 31st May. TCS return (Form 27EQ) due dates are 15th July, 15th October, 15th January, and 15th May. Late filing of TDS returns attracts ₹200/day fee under Section 234E, capped at TDS amount, plus penalty up to ₹1,00,000 under Section 271H.

What is Form 24Q and Form 26Q — what is the difference?

Form 24Q is the quarterly TDS return for tax deducted on salary payments under Section 192. It requires employee-wise details including PAN, salary amount, exemptions, and TDS. Form 16 is the TDS certificate issued annually. Form 26Q is the quarterly TDS return for all non-salary payments — rent (Section 194I), professional fees (Section 194J), contractor payments (Section 194C), interest (Section 194A), commission (Section 194H), dividends (Section 194), and more. Form 16A is issued quarterly to deductees after filing Form 26Q.

What is Form 26QB and when must it be filed?

Form 26QB is a challan-cum-statement for TDS on purchase of immovable property under Section 194IA, applicable when the sale consideration exceeds ₹50 lakh. The buyer must deduct TDS at 1% of the sale value (20% if the seller's PAN is not available) and file Form 26QB within 30 days from the end of the month in which TDS is deducted. No TAN is required — the buyer's PAN is sufficient. Form 16B (TDS certificate) must be issued to the seller within 15 days of Form 26QB due date.

What is the penalty for not deducting TDS on time?

Failure to deduct TDS attracts: (1) Interest at 1% per month under Section 201(1A) from the date TDS should have been deducted to the actual deduction date; (2) Disallowance of 30% of the related expense under Section 40(a)(ia) — this directly increases taxable income; (3) Penalty under Section 271C equal to the amount of TDS not deducted. Additionally, late deposit of TDS after deduction attracts interest at 1.5% per month from date of deduction to deposit date.

What is the TDS rate on professional fees under Section 194J?

Section 194J covers professional or technical fees. The TDS rate is 10% for professional fees (doctors, lawyers, CAs, architects) and royalties. For technical services (software, managerial, consulting), the rate was reduced to 2% (applicable from April 2020). The threshold for deduction is ₹30,000 per annum per payee. If the deductee does not provide PAN, TDS is deducted at 20% under Section 206AA.

What is TCS and how is it different from TDS?

TDS (Tax Deducted at Source) is deducted by the payer at the time of making specified payments. TCS (Tax Collected at Source) under Section 206C is collected by the seller from the buyer at the time of sale of specified goods. Key TCS transactions include: scrap (1%), minerals (1%), LRS overseas remittances above ₹7 lakh (20%), foreign tour packages (5%), sale of motor vehicles above ₹10 lakh (1%). TCS is reported quarterly in Form 27EQ, and TCS certificates (Form 27D) are issued to buyers. Both TDS and TCS use the same TAN number and challan (ITNS-281).

What is TRACES and how do I access it?

TRACES (TDS Reconciliation Analysis and Correction Enabling System) at www.tdscpc.gov.in is the official Income Tax Department portal for TDS administration. Through TRACES, deductors can: file TDS returns, download Form 16/16A (generated by TRACES), view challan status and outstanding demands, correct previously filed returns (through correction statements), respond to TDS notices, and view 26AS of deductees. TAXAJ manages all TRACES operations — from registration to monthly monitoring to annual Form 16 download — on behalf of clients.

Do individuals need TAN to deduct TDS on property purchase?

No. For TDS on purchase of immovable property under Section 194IA (Form 26QB), individuals do not need a TAN — they can use their PAN to file the form directly on the Income Tax portal. Similarly, for TDS on rent paid by individuals above ₹50,000 per month under Section 194IB (Form 26QC), no TAN is required. TAN is needed only by businesses and individuals/HUF whose accounts are required to be audited under Section 44AB who make other TDS-deductible payments.

What is TAN and who needs it?

TAN (Tax Deduction and Collection Account Number) is a 10-digit alphanumeric number required by all persons responsible for deducting or collecting tax at source under the Income Tax Act, 1961. It is mandatory under Section 203A to quote TAN on all TDS/TCS returns, challans, and certificates. Not obtaining TAN attracts a penalty of ₹10,000 under Section 272BB.

What is the due date for TDS payment?

TDS deducted must be deposited to the government by the 7th of the following month using Challan ITNS-281. For TDS deducted in March, the due date is 30th April. For TDS on rent (Section 194IB) and purchase of property (Section 194IA), the due date is 30 days from the end of the month in which TDS is deducted. Late payment attracts interest at 1.5% per month.

What is the due date for TDS return filing?

TDS returns are filed quarterly: Q1 (April–June) by 31st July, Q2 (July–September) by 31st October, Q3 (October–December) by 31st January, and Q4 (January–March) by 31st May. Late filing of TDS returns attracts a penalty of ₹200 per day under Section 234E (maximum equal to TDS amount) plus a separate penalty of ₹10,000 to ₹1,00,000 under Section 271H.

What is Form 26QB and when is it filed?

Form 26QB is a challan-cum-statement for TDS on sale of immovable property under Section 194IA, applicable when the sale consideration exceeds ₹50 lakh. The buyer must deduct TDS at 1% of the sale value and file Form 26QB within 30 days from the end of the month in which TDS is deducted. Form 16B (TDS certificate) must then be issued to the seller.

What are consequences of not deducting or depositing TDS on time?

Failure to deduct TDS attracts interest at 1% per month from the date on which TDS should have been deducted to the date of actual deduction. Failure to deposit TDS after deduction attracts interest at 1.5% per month. Additionally, the expense on which TDS was not deducted is disallowed under Section 40(a)(ia) — typically 30% of the expense amount, significantly increasing your tax liability.

TAN Application Online & TDS Compliance Services | Form 24Q 26Q 27Q 26QB 27EQ | TAXAJ

📊 Section 203A — Income Tax Act

TAN Application & TDS Compliance — Fully Managed

From TAN registration to monthly TDS deduction, challan payment, quarterly return filing (24Q / 26Q / 27Q / 26QB / 27EQ), and Form 16 issuance — TAXAJ CAs handle your complete TDS compliance cycle.

₹999

Starting price

TDS return forms

7th

Challan due date

Pan-India

Coverage

Get TAN & TDS Handled

TAN Registration · Returns · Payments · Form 16

Starts from

₹999

Per TDS return filing — all inclusive

TAN application in 7–10 working days
TDS computation & challan payment
Quarterly return filing (24Q/26Q/27Q)
TRACES reconciliation & corrections
Form 16 / 16A issuance to deductees

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The Foundation

What is TAN & Why is it Mandatory?

TAN (Tax Deduction and Collection Account Number) is a unique 10-digit alphanumeric identifier issued by the Income Tax Department under Section 203A of the Income Tax Act, 1961. It is mandatory for every person responsible for deducting TDS or collecting TCS from payments they make.

TAN must be quoted on all TDS/TCS returns, payment challans, TDS certificates (Form 16/16A), and annual information returns. Without TAN, TIN facilitation centres will not accept returns, and banks will not accept TDS payment challans.

Failure to apply for TAN attracts a penalty of ₹10,000 under Section 272BB. A single TAN can be used for both TDS and TCS — but different branches/divisions of a company may hold separate TANs.

⚠️ Penalty for Not Having TAN

₹10,000 penalty under Section 272BB. Expense disallowance of 30% under Section 40(a)(ia) if TDS not deducted.

TAN Format — 10 Characters

D E L H X 1 2 3 4 5 C

First 3 letters — Jurisdiction city where TAN was issued (e.g. DEL = Delhi, MUM = Mumbai, BLR = Bangalore)

4th letter — First initial of the name of the deductor/collector (individual or entity)

5 numerals + 1 letter — System-generated unique sequence number

💡 TAN is different from PAN. PAN is required by all taxpayers; TAN is required only by those who deduct or collect tax. One entity can hold only one TAN (multiple TANs are illegal) but may obtain different TANs for different branches.

TAN vs PAN — Key Differences

ParameterTANPAN

Full FormTax Deduction & Collection Account No.Permanent Account Number

Who Needs ItTDS/TCS deductors onlyAll taxpayers

Digits10 (4 alpha + 5 num + 1 alpha)10 (5 alpha + 4 num + 1 alpha)

Penalty₹10,000 if not obtained₹10,000 if not quoted

TDS Return Forms

All 5 TDS/TCS Return Forms — Explained

Every type of payment has a designated TDS return form. TAXAJ handles all of them — computation, challan, filing, and certificate issuance.

Section 192

Form 24Q

TDS on Salary

Quarterly TDS return for tax deducted on salary payments. Covers all employees — permanent, contractual, directors. Includes old and new tax regime computations. TDS certificate issued: Form 16 annually by 15th June.

📅 Due dates: Q1 31st July · Q2 31st Oct · Q3 31st Jan · Q4 31st May

File Form 24Q →Sections 194A–194R

Form 26Q

TDS on Non-Salary Payments

Quarterly TDS return for all non-salary payments — rent (194I), professional/technical fees (194J), contractor payments (194C), interest (194A), commission (194H), dividends (194), brokerage, and more. TDS certificate: Form 16A.

📅 Due dates: Q1 31st July · Q2 31st Oct · Q3 31st Jan · Q4 31st May

File Form 26Q →

Section 195 / 196

Form 27Q

TDS on NRI / Foreign Payments

Quarterly return for TDS on interest, dividend, royalty, technical fees, or any other sum paid to non-residents or foreign companies. Works alongside Form 15CB for DTAA-compliant foreign remittances. TDS certificate: Form 16A.

📅 Due dates: Q1 31st July · Q2 31st Oct · Q3 31st Jan · Q4 31st May

File Form 27Q →

Section 194IA

Form 26QB

TDS on Sale of Property

Challan-cum-statement for TDS on purchase of immovable property where sale consideration exceeds ₹50 lakh. Buyer deducts TDS at 1% (or 20% if PAN not provided). Filed within 30 days from end of month of deduction. TDS certificate: Form 16B.

📅 Due date: 30 days from end of month of deduction

File Form 26QB →Section 206C

Form 27EQ

TCS — Tax Collected at Source

Quarterly return for Tax Collected at Source (TCS) — applicable on sale of scrap, liquor, timber, tendu leaves, minerals, foreign travel packages, overseas remittances (LRS), and sale of motor vehicles above ₹10 lakh. TCS certificate: Form 27D.

📅 Due dates: Q1 15th July · Q2 15th Oct · Q3 15th Jan · Q4 15th May

File Form 27EQ →

Challan ITNS-281

TDS Challan Payment

Monthly Deposit to Government

All TDS/TCS deducted must be deposited using Challan ITNS-281 on the Income Tax portal. Due by 7th of the following month (30th April for March). Late deposit: 1.5% interest/month. TAXAJ generates, verifies, and deposits challans monthly.

📅 Due: 7th of next month (30th April for March)

Understanding TDS

All About Tax Deducted at Source (TDS)

TDS (Tax Deducted at Source) is income tax deducted at the point of payment for specified transactions. The payer (deductor) deducts tax from the payment and deposits it to the government on behalf of the recipient (deductee), who then claims credit for it in their income tax return.

For example: A company paying ₹80,000/month rent must deduct 10% TDS (₹8,000) and pay ₹72,000 to the landlord. The landlord adds ₹80,000 to income and claims ₹8,000 TDS credit via Form 26AS.

TDS applies to salary, rent, professional fees, contractor payments, interest, commissions, dividends, royalties, property purchases, and foreign remittances. Not all individuals need TDS — those not required to get tax audit done are exempt, except for property purchases and rent above ₹50,000/month.

📌 Example: TDS on Rent

Monthly rent₹80,000

TDS @ 10% (Sec 194I)− ₹8,000

Net payment to landlord₹72,000

Landlord's gross income (for ITR)₹80,000

When is TDS Deducted?

→ At the time of payment (whichever is earlier: payment or credit to books)
→ By any person making specified payments (businesses & individuals liable to audit)
→ Individuals/HUF not liable to audit — exempt, except property purchase and rent > ₹50,000/month

TDS Deposit Due Dates

🗓7th of next month — for all TDS deducted April to February
🗓30th April — for TDS deducted in March
🗓30 days from month-end — for property purchase (26QB) and rent (26QC)

Form 26AS — TDS Credit Statement

All TDS deducted links to the deductee's PAN and appears in Form 26AS — the consolidated tax credit statement available on the IT portal. TDS credit shown in 26AS can be claimed against final tax liability in the ITR. Mismatches between 26AS and ITR can trigger notices.

Quick Reference

TDS Rate Chart — Key Sections FY 2024-25

Common TDS sections, thresholds, and applicable rates. Higher rates (20%) apply if PAN is not furnished by the deductee.

Section	Nature of Payment	Threshold	TDS Rate (with PAN)	Who Deducts
192	Salary	Above basic exemption limit	Slab rates	Employer
193	Interest on Securities	₹5,000	10%	Company / issuer
194	Dividend	₹5,000	10%	Company
194A	Interest (Bank FD, etc.)	₹40,000 (₹50,000 senior citizens)	10%	Bank / NBFC / Company
194B	Lottery / Crossword winnings	₹10,000	30%	Organiser
194C	Contractor / Subcontractor	₹30,000 single / ₹1 lakh annual	1% (Ind/HUF) / 2% (others)	Any person (audit liable)
194D	Insurance Commission	₹15,000	5% (Ind/HUF) / 10%	Insurer
194G	Commission on Lottery Tickets	₹15,000	5%	Seller
194H	Commission / Brokerage	₹15,000	5%	Any person (audit liable)
194I	Rent (plant/machinery)	₹2,40,000 p.a.	2%	Any person (audit liable)
194I	Rent (land/building/furniture)	₹2,40,000 p.a.	10%	Any person (audit liable)
194IB	Rent by Ind/HUF (not audit)	₹50,000 p.m.	5%	Individual / HUF
194IA	Transfer of Immovable Property	₹50 lakh	1%	Buyer (any person)
194J	Professional / Technical Fees	₹30,000 p.a.	10% (Prof) / 2% (Technical)	Any person (audit liable)
194J	Royalty on films / software	₹30,000 p.a.	10%	Any person (audit liable)
194LA	Compensation on land acquisition	₹2.5 lakh	10%	Acquiring authority
194N	Cash withdrawal from bank	₹1 crore (₹20 lakh if ITR not filed)	2% / 5%	Bank / Post Office
194Q	Purchase of Goods	Turnover > ₹10 cr; purchase > ₹50 lakh	0.1%	Buyer (turnover > ₹10 cr)
195	Payment to Non-Resident	No threshold	As per DTAA / IT Act rates	Any payer
206C(1G)	TCS on LRS / Overseas Remittance	₹7 lakh	20% (TCS)	Authorised dealer / Bank

* If deductee does not furnish PAN, TDS is deducted at 20% or the applicable rate, whichever is higher. Rates as per Finance Act 2024.

Stay Compliant

Monthly TDS Compliance Timeline

Miss any of these deadlines and interest + penalties kick in automatically. TAXAJ tracks all dates and sends reminders before they fall due.

7th

Deposit TDS Challan

7th of Every Month

Deposit TDS deducted in the previous month using Challan ITNS-281 on the Income Tax portal. Late deposit: 1.5% interest per month from date of deduction to date of deposit.

15th

TCS Challan Deposit

15th of Every Month

Deposit TCS collected during the previous month via Challan ITNS-281. Separate from TDS deposit — do not combine challans.

Q End

Quarterly TDS Return Filing

31st Jul · 31st Oct · 31st Jan · 31st May

File Form 24Q (salary) and Form 26Q (non-salary) on TRACES/TIN-NSDL portal. Late filing: ₹200/day fee under Section 234E.

16A

Issue Form 16A to Deductees

15 Days After Quarterly Return Due Date

After filing 26Q, generate Form 16A from TRACES and issue to deductees (vendors, contractors, professionals) within 15 days of the return due date.

Issue Form 16 to Employees

15th June Every Year

After filing Q4 Form 24Q, generate and issue Form 16 (Part A from TRACES + Part B prepared by employer) to all employees who had TDS deducted on salary.

TDS Certificates

Form 16, 16A, 16B & 16C

TDS certificates must be issued by every deductor to the deductee. Failure to issue attracts ₹100/day penalty.

Form	For	Frequency	Due Date
Form 16	TDS on salary (Sec 192)	Annual	15th June
Form 16A	TDS on non-salary (26Q / 27Q)	Quarterly	15 days after return due
Form 16B	TDS on property purchase (26QB)	Per transaction	15 days after 26QB due
Form 16C	TDS on rent by Ind/HUF (26QC)	Per transaction	15 days after 26QC due
Form 27D	TCS certificate (27EQ)	Quarterly	15 days after 27EQ due

📋 How to Check TDS Credit — Form 26AS & AIS

1 Log in to www.incometax.gov.in
2 Navigate to View → Form 26AS / AIS
3 Check Part A (TDS) and Part C (Self-assessment tax)
4 Cross-check with Form 16 / 16A issued by deductor
5 Claim total TDS as credit while filing your ITR

Consequences of Non-Compliance

TDS Penalties & Interest — Know Before It Hits

The Income Tax Department auto-calculates interest and penalties on late TDS. These compound fast — prevention is far cheaper than cure.

❌ Failure to Deduct TDS

1% / month

Interest under Section 201(1A) from the date TDS should have been deducted to the date of actual deduction. Additionally, 30% of the payment is disallowed as a business expense under Section 40(a)(ia) — directly increasing taxable income.

⚠️ Late Deposit of TDS

1.5% / month

Interest under Section 201(1A) from the date of deduction to the date of actual deposit. Even a one-day delay means interest for the full month. This is the most common and expensive TDS compliance mistake.

📋 Late Filing of TDS Return

₹200 / day

Fee under Section 234E at ₹200 per day for every day of delay, capped at the total TDS amount. Additionally, penalty of ₹10,000 to ₹1,00,000 under Section 271H for incorrect/non-filing.

🔴 No TAN / Wrong TAN Quoted

₹10,000

Penalty under Section 272BB for not obtaining TAN or quoting incorrect TAN on challans, returns, or certificates. Return will be rejected by TIN centres and banks will refuse to accept TDS challans.

💡

How to Avoid All TDS Penalties

Let TAXAJ manage your complete TDS compliance cycle — we track deduction dates, deposit challans by the 7th, file quarterly returns on time, and issue certificates to deductees. Our clients have zero late filing penalties on TDS. Get started today →

Get Started by Business Type

What Kind of Deductor Are You?

TDS obligations differ by payment type and business category. Pick your category and a TAXAJ TDS expert will reach out within 2 hours.

🏢

Company / LLP

Private Ltd, Public Ltd, LLP paying salary, rent, professional fees, contractor payments

Form 24Q — salary TDS monthly
Form 26Q — vendor/contractor TDS
Form 16 & 16A to employees/vendors
TRACES reconciliation & corrections

🏗️

Property Buyer

Purchasing immovable property with consideration above ₹50 lakh

Form 26QB filing within 30 days
1% TDS on property value
Form 16B to seller
Guidance on Section 194IA

🏠

Tenant / Rent Payer

Individual or HUF paying rent above ₹50,000/month to landlord

Form 26QC — rent TDS (5%)
No TAN required for Ind/HUF
Form 16C to landlord
Filing within 30 days

🌍

NRI / Foreign Payment

Making payments to non-residents, foreign companies, or NRI suppliers

Form 27Q — NRI TDS quarterly
Form 15CB with each remittance
DTAA benefit claim analysis
Lower deduction certificate

🛒

Large Buyer (194Q)

Businesses with turnover above ₹10 crore purchasing goods above ₹50 lakh/year from a single seller

TDS at 0.1% on purchase value
Applies from 1st July 2021
Form 26Q quarterly filing
Not applicable if TCS collected

💎

TCS Collector

Sellers of scrap, minerals, motor vehicles, foreign exchange, travel packages under LRS

Form 27EQ — TCS quarterly return
TCS on LRS @ 20% (above ₹7L)
Form 27D to buyers
Monthly deposit by 7th

🏥

Healthcare / Hospital

Hospitals and clinics paying doctors, consultants, lab charges, and medical supply vendors

194J on consultant/doctor fees
194C on medical supply contracts
192 on employee doctors (salary)
Form 16A to all consultants

🎓

Education Institution

Schools, colleges, coaching centres, and EdTech companies

192 on teacher salaries
194C on contract / outsourced work
194J on guest lectures / consulting
194I on campus rent

🚀

Startup / New Business

Newly incorporated company or LLP with first TDS obligations

TAN application from scratch
TDS compliance setup & training
First-quarter return filing
Ongoing monthly management

💼

Individual / Professional

Freelancer, consultant, or individual required to deduct TDS or file 26QB

26QB for property purchase
26QC for rent > ₹50K/month
Lower deduction certificates
Form 15G / 15H guidance

🏦

TDS Notice / Correction

Received a TDS demand, 26AS mismatch notice, or need to revise filed returns

TDS demand response on TRACES
Return correction / revision filing
26AS mismatch reconciliation
Interest & penalty waiver requests

🙋

Not Sure Which Applies?

TDS applicability can be complex — tell us your payment type and we'll identify the right section and form

NGO / Trust / Section 8
Government / PSU
Partnership / Proprietorship
Any other deductor

TAN Application

How to Apply for TAN with TAXAJ

TAN is allotted by the Income Tax Department in 7–10 working days. TAXAJ handles the Form 49B application, documentation, and follow-up.

📋 Documents Required for TAN

📄 PAN card of the entity/individual
📄 Proof of identity (Aadhaar / Passport / Voter ID)
📄 Address proof of registered office
📄 Certificate of Incorporation (for companies/LLPs)
📄 Authorisation letter (if applied by CA/authorised rep)

🔍 How to Know / Search Your TAN

1. Visit www.incometax.gov.in
2. Click 'Know Your TAN'
3. Select Search by Name or TAN
4. Select Category of Deductor and State
5. Enter registered mobile number and validate OTP
6. TAN details displayed on screen

TAXAJ Process

Our TDS Compliance Cycle

Collect invoices & salary data

Share payment details, invoices, attendance data by the 5th of each month.

TDS computation by CA

TAXAJ CA computes TDS under applicable sections and generates Challan ITNS-281.

Challan deposit by 7th

TDS deposited to government by the 7th. Challan acknowledgement shared with you.

Quarterly return filing

24Q/26Q/27Q filed on TRACES before due date. Provisional receipt shared.

Form 16 / 16A issuance

TDS certificates generated from TRACES and issued to all deductees within due date.

Why TAXAJ

Why Outsource TDS Compliance to TAXAJ

📅

Never Miss a Deadline

TAXAJ pre-schedules all TDS due dates — challan by 7th, returns by quarter-end, Form 16 by 15th June. Our clients have zero late filing penalties on TDS across thousands of returns.

✅

Accurate TDS Computation

Wrong TDS section or rate leads to demand notices and interest. Our CAs verify the applicable section, threshold, PAN availability, and DTAA benefit before each deduction.

🔍

TRACES Reconciliation

We reconcile your 26AS monthly to detect mismatches between what you deposited and what TRACES is showing. Mismatches are corrected before they trigger notices.

📋

Form 16 in Time

Employees and vendors legally need Form 16/16A before they can file their own ITR. TAXAJ ensures all TDS certificates are generated from TRACES and delivered within due dates.

⚖️

Notice Handling

If you receive a TDS demand, 26AS mismatch notice, or TRACES deficiency intimation, TAXAJ CAs prepare the response and represent you before the Assessing Officer.

💰

Cost-Effective Compliance

TDS filing starts at ₹999/quarter. Compare this to the cost of interest (1.5%/month) and penalties (₹200/day) from a single late filing — TAXAJ pays for itself many times over.

FAQ

Frequently Asked Questions

What is TAN and who is required to obtain it? ▾

TAN (Tax Deduction and Collection Account Number) is a 10-digit alphanumeric number mandatory under Section 203A of the Income Tax Act, 1961 for every person responsible for deducting TDS or collecting TCS. It must be quoted on all TDS/TCS returns, challans, and certificates. Failure to obtain TAN attracts a penalty of ₹10,000 under Section 272BB. Apply for TAN with TAXAJ →

What is the due date for depositing TDS to the government? ▾

TDS must be deposited using Challan ITNS-281 by the 7th of the following month for all months except March (due 30th April). For TDS on property purchase (Form 26QB) and rent by individuals (Form 26QC), the due date is 30 days from the end of the month of deduction. Late deposit attracts interest at 1.5% per month from date of deduction to date of deposit under Section 201(1A).

What is the difference between Form 24Q and Form 26Q? ▾

Form 24Q is the quarterly TDS return for tax deducted on salary payments under Section 192. It requires employee-wise details including PAN, salary amount, exemptions claimed, and TDS deducted. Form 26Q is for all non-salary payments — rent (194I), professional fees (194J), contractor payments (194C), interest (194A), commission (194H), and dividends (194). Both are filed quarterly and the TDS certificates issued are Form 16 (24Q) and Form 16A (26Q) respectively.

Do I need to deduct TDS as an individual buying property? ▾

Yes. Under Section 194IA, every buyer of immovable property with consideration exceeding ₹50 lakh must deduct TDS at 1% of the sale value (20% if seller doesn't furnish PAN). The TDS is filed using Form 26QB within 30 days from the end of the month of deduction, and Form 16B is issued to the seller. No TAN is needed for this purpose — it can be done using PAN. File 26QB with TAXAJ →

What are consequences of not deducting TDS on time? ▾

Failure to deduct TDS attracts:
• Interest at 1%/month from date of non-deduction to date of deduction (Section 201(1A))
• Disallowance of 30% of the expense under Section 40(a)(ia) — directly increasing taxable income
• Penalty under Section 271C — equal to TDS amount not deducted
Even after deducting, late deposit attracts 1.5%/month interest. Late filing of returns attracts ₹200/day fee under Section 234E.

Can I submit Form 15G or 15H to avoid TDS deduction? ▾

Form 15G (for individuals below 60 years) and Form 15H (for senior citizens) are declarations submitted by the deductee to the bank or payer stating that their total income is below the taxable limit — requesting nil TDS deduction. These are not applicable for salary TDS (Section 192) but can be submitted to banks for TDS on interest (194A), recurring deposits, and some other payments. They are self-declarations and the deductee is responsible for accuracy.

What is TRACES and how does it relate to TDS? ▾

TRACES (TDS Reconciliation Analysis and Correction Enabling System) is the official Income Tax Department portal for TDS/TCS administration at www.tdscpc.gov.in. Through TRACES, deductors can file TDS returns, download Form 16/16A, view challan status, check demand and outstanding arrears, correct previously filed returns, and respond to TDS notices. Deductees can view their 26AS, verify TDS credits, and raise grievances. TAXAJ manages all TRACES activities on your behalf.

What is TCS and when does it apply? ▾

TCS (Tax Collected at Source) under Section 206C is collected by sellers from buyers on specified goods and transactions. Key applicability: scrap (1%), timber/forest produce (2.5%), minerals (1%), parking lots (2%), liquor (1%), motor vehicles above ₹10 lakh (1%), foreign tour packages (5%), and LRS overseas remittances above ₹7 lakh (20%). The seller collects TCS, deposits using Challan ITNS-281 by 7th of next month, and files Form 27EQ quarterly. File Form 27EQ with TAXAJ →

Get TAN Applied & TDS Managed — Starting ₹999

TAXAJ handles TAN registration, monthly TDS computation, challan deposit, quarterly returns, and Form 16 — so you stay compliant every quarter without a single penalty.

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What is TAN & Why is it Mandatory?

TAN Format — 10 Characters

All 5 TDS/TCS Return Forms — Explained

All About Tax Deducted at Source (TDS)

TDS Rate Chart — Key Sections FY 2024-25

Monthly TDS Compliance Timeline

Deposit TDS Challan

TCS Challan Deposit

Quarterly TDS Return Filing

Issue Form 16A to Deductees

Issue Form 16 to Employees

Form 16, 16A, 16B & 16C

TDS Penalties & Interest — Know Before It Hits

❌ Failure to Deduct TDS

⚠️ Late Deposit of TDS

📋 Late Filing of TDS Return

🔴 No TAN / Wrong TAN Quoted

What Kind of Deductor Are You?

How to Apply for TAN with TAXAJ

Our TDS Compliance Cycle

Why Outsource TDS Compliance to TAXAJ

Never Miss a Deadline

Accurate TDS Computation

TRACES Reconciliation

Form 16 in Time

Notice Handling

Cost-Effective Compliance

Frequently Asked Questions

Related TDS & Tax Services

Get TAN Applied & TDS Managed — Starting ₹999

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