Form 26Q - TDS on Non Salary Deductions

During the time of payment to the payee, the payer needs to deduct TDS on particular occasions. This payment is other than the payment of the salary, and the payer needs to file TDS return Form 26Q.

Form 26Q needs to be submitted on a quarterly base. The total amount that is paid during the quarter and the TDS amount that is deducted on such payments need to be reported in Form 26Q TDS.

26Q TDS Return Meaning

The Form 26Q is applicable for the TDS under Section 200(3) of the Income Tax Act under Sections 193, 194, 194A, 194B, 194BB, 194C, 194D, 194EE, 194F, and more. This is the statement for the TDS on all payments except for the salary.

A deductor will have to submit his TAN to submit this form. The non-government deductors need to quote the PAN, whereas the government deductors will have to quote "PANNOTREQD" on Form 26Q.

What are the Sections Under Form 26Q?

Under 200(3) of the Income Tax Act, 1961, form 26Q is applicable for the TDS for all of the payments except for the salary. The sections under this law give the details of when the TDS and the amount limit under which it is not applicable. 

Section 192

If the net taxable income is lesser than the maximum amount that is not chargeable to tax:

a) Rs. 2,50,000 for individuals

b) Rs. 3,00,000 for Senior Citizens.

c) Rs. 5,00,000 for Super Senior Citizens.

There is no TDS at source from salaries.

Section 192A

Suppose the amount that is paid is less than Rs. 30,000. There is no TDS from the payment of the PF account of an employee.

Section 193

If there is an amount paid or payable during the financial year and it is less than five thousand rupees. There is no TDS from the interest paid on the debentures issued by the company in which the public is substantially interested. Provident interest is paid by the account payee cheque to the resident individual. 

Section 193

If the amount is paid or it is payable during the financial year, it is less than Rs. 10,000. There is no TDS from the interest of 8% savings paid to the residents.

Section 193

If there is a declaration made that the nominal value of such bonds is not more than ten thousand at any time during the previous year.

Section 194

If the amount that is paid or payable during the financial year is lesser than Rs. 2,500.

Section 194A

If the amount that is paid or is payable during the financial year is less than Rs. 10,000.

Section 194A

If the amount that is paid or is payable during the financial years is less than Rs. 10,000.

Section 194A

When the amount that is paid or is payable during the financial year is less than Rs. 5,000.

Section 194A

If the amount that is paid or is payable during the financial year is less than Rs. 50,000.

Section 194B

If the amount that is paid or is payable during the financial year is less than Rs. 10,000.

Section 194BB

When the amount that is paid or is payable during the financial year is less than Rs. 10,000.

Section 194C

Suppose the sum that is paid or is payable to the contractor in a single payment is less than Rs. 30,000. Also, when the sum paid or payable to a contractor in aggregate is less than Rs. 1,00,000 during the financial year.

Section 194D

When the amount that is paid or is payable during the financial year is lesser than Rs. 15,000.

Section 194DA

When the amount that is paid or is payable during the financial year is less than Rs. 1 lakh.

Section 194EE

If the amount paid or payable in the financial year is less than Rs. 2,500.

Section 194G

When the amount that is paid or payable during the financial year is lesser than Rs. 15,000.

Section 194H

When the amount that is paid or payable during the financial year is less than Rs. 15,000, also, there is no tax that is being deducted from the commission that is payable.

Section 194-I

When the amount that is paid or is payable during the financial year is lesser than Rs. 1,80,000.

Section 194-IA

When the amount that is paid or is payable during the financial year is lesser than Rs. 50 lakhs.

Section 194-IB

When the amount of the rent is lesser than Rs. 50,000 for a month or a part of a month.

Section 194J

When the amount that is paid or is payable during the financial year is lesser than Rs. 30,000.

Section 194LA

When the amount paid or payable during the financial year is lesser than Rs. 2.5 lakhs.

Section 206A

When the amount that is paid or is even payable during the financial year is lesser than:

  • Rs. 10,000 where the payer is a co-operative society or a banking company.
  • Rs. 5,000 in another case.

The Penalty for Late Filing of the Form 26Q

Though taxpayers will be liable to file Form 26Q on time and in a steady manner - there will be penalties for the late filing. The maximum penalty is Rs. 10,000. 

How to Download Form 26Q?

Four categories have been created within the TDS Return Form. If a taxpayer takes the steps listed below, they can readily download the 26Q:

  • Step 1: Go to https://www.tin-nsdl.com/, where NSDL's official website can be found.

  • Step 2: Select E-TDS/E-TCS from the drop-down list by clicking the "Downloads" tab.

  • Step 3: Select "Regular" after clicking "Quarterly Returns."

  • Step 4: A new page will be directed to you.

  • Step 5: From the "Form" area, choose Form 26Q to download.
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