ಫಾರ್ಮ್ 26 ಕ್ಯೂ
ಕಡಿತಗೊಳಿಸುವವನಿಗೆ ಕಡಿತಗೊಳಿಸುವವನು ಮಾಡಿದ ಅನೇಕ ಪಾವತಿಗಳಿಗೆ ಸಂಬಂಧಿಸಿದಂತೆ ಟಿಡಿಎಸ್ ಅನ್ನು ಕಡಿತಗೊಳಿಸಬೇಕು. ಆದಾಯ ತೆರಿಗೆ ಕಾಯ್ದೆಯ ಸೆಕ್ಷನ್ 193 ಮತ್ತು 194 ಈ ಪಾವತಿಗಳಿಗೆ ಸಂಬಂಧಿಸಿದಂತೆ ಟಿಡಿಎಸ್ ಕಡಿತ ನಿಬಂಧನೆಗಳನ್ನು ಸೂಚಿಸುತ್ತದೆ.
ಈ ಪಾವತಿಗಳಲ್ಲಿ ಇವು ಸೇರಿವೆ:
(ಎ) ಆಸಕ್ತಿ
(ಬಿ) ಬಾಡಿಗೆ
(ಸಿ) ಆಯೋಗ
(ಡಿ) ಒಪ್ಪಂದದ ಪಾವತಿಗಳು ಇತ್ಯಾದಿ.
ಕಡಿತಗೊಳಿಸಿದ ಟಿಡಿಎಸ್ ಅನ್ನು ಸರ್ಕಾರದಲ್ಲಿ ಪಾವತಿಸಬೇಕಾಗುತ್ತದೆ. ಮಾಸಿಕ ಆಧಾರದ ಮೇಲೆ ಟಿಡಿಎಸ್ ಚಲನ್ ಮೂಲಕ ಖಾತೆ. ಚಲನ್ ಮೂಲಕ ಟಿಡಿಎಸ್ ಪಾವತಿ ಮಾಡಿದ ನಂತರ, ಕಳೆಯುವವರು ಟಿಡಿಎಸ್ ಫಾರ್ಮ್ 26 ಕ್ಯೂನಲ್ಲಿ ರಿಟರ್ನ್ ಸಲ್ಲಿಸಬೇಕು. ಇದು ಬಡ್ಡಿ, ಬಾಡಿಗೆ, ಆಯೋಗ, ಒಪ್ಪಂದ ಇತ್ಯಾದಿಗಳಿಗೆ ಸಂಬಂಧಿಸಿದಂತೆ ಕಡಿತಗೊಳಿಸುವವರಿಗೆ ನಿವಾಸ ಕಡಿತಗೊಳಿಸುವವನು ಮಾಡುವ ಎಲ್ಲಾ ಪಾವತಿಗಳಿಗೆ ಸಂಬಂಧಿಸಿದಂತೆ ಟಿಡಿಎಸ್‌ನ ತ್ರೈಮಾಸಿಕ ಆದಾಯವಾಗಿದೆ.
ಈ ಫಾರ್ಮ್ ಅನ್ನು ತ್ರೈಮಾಸಿಕದ ಅಂತ್ಯದಿಂದ ಒಂದು ತಿಂಗಳೊಳಗೆ ಪ್ರತಿ ತ್ರೈಮಾಸಿಕದಲ್ಲಿ ಸಲ್ಲಿಸಬೇಕು. ಆದಾಗ್ಯೂ, ಮಾರ್ಚ್ ಅಂತ್ಯದ ತ್ರೈಮಾಸಿಕದಲ್ಲಿ, ಈ ಫಾರ್ಮ್ ಅನ್ನು ಮೇ 31 ರವರೆಗೆ ಸಲ್ಲಿಸಬಹುದು.
ಫಾರ್ಮ್ ಅನ್ನು ಸಲ್ಲಿಸಿದ ನಂತರ, ಅದನ್ನು ಟಿಡಿಎಸ್ ಸಿಪಿಸಿ ಪೋರ್ಟಲ್ ಮೂಲಕ ಸಂಸ್ಕರಿಸಲಾಗುತ್ತದೆ.
ಫಾರ್ಮ್ 16 ಎ ಅಂದರೆ ಟಿಡಿಎಸ್ ಪ್ರಮಾಣಪತ್ರಗಳನ್ನು 26 ಕ್ಯೂ ಆನ್‌ಲೈನ್‌ನಲ್ಲಿ ಸಲ್ಲಿಸಿದ ದಿನಾಂಕದಿಂದ 15 ದಿನಗಳಲ್ಲಿ ಟಿಡಿಎಸ್ ಸಿಪಿಸಿ ಪೋರ್ಟಲ್‌ನಲ್ಲಿ ಲಭ್ಯವಾಗಲಿದೆ.
Major Sections Covered
The Indian Income Tax Act provides TDS deduction provisions for various types of payments, ensuring accurate deduction and remittance as follows:
1. Section 193 - Interest on Securities
• TDS Rate: 10%
• Example: Interest on Government Bonds
• TDS Rate: 10%
• Example: Dividends from XYZ Company
3. Section 194A - Interest other than Interest on Securities
• TDS Rate: 10%
• Example: Interest on Fixed Deposits
4. Section 194B - Winnings from Lotteries and Puzzles
• TDS Rate: 30%
• Example: Lottery Prize Winnings
5. Section 194C - Payments to Contractors/sub-contractors against works contract
• TDS Rate: 1% to 2%
• Example: Payment to Construction Contractors
6. Section 194D - Commission from Insurance
• TDS Rate: 5%
• Example: Commission to Insurance Agents
7. Section 194DA - Payments in respect of Life Insurance Policy
• TDS Rate: 5%
• Example: Payouts from Life Insurance Policies
8. Section 194EE - Payments in respect of deposits under National Saving Schemes etc.
• TDS Rate: 20%
• Example: Interest on National Saving Certificates
9. Section 194F - Payments on the repurchase of units of Mutual Fund or UTI schemes
• TDS Rate: 20%
• Example: Income from Mutual Fund Repurchases
10. Section 194G - Commission etc. on sale of lottery tickets
• TDS Rate: 5%
• Example: Commission on Lottery Ticket Sales
11. Section 194H - Commission or Brokerage
• TDS Rate: 5%
• Example: Brokerage Commissions
• TDS Rate: 10%
• Example: Rental Income
13. Section 194J - Fees for Professional or Technical Services
• TDS Rate: 10%
• Example: Fees for Professional Services
14. Section 194K - Income in respect of Units
• TDS Rate: 10%
• Example: Income from Investments in Units
15. Section 194LA - Payment of compensation on acquisition of certain immovable property
• TDS Rate: 10%
• Example: Property Acquisition Compensation
16. Section 194LBA - Certain incomes from units of Business Trust
• TDS Rate: 10%
• Example: Income from Business Trust Units
17. Section 194LBB - Income in respect of units of Investment Fund
• TDS Rate: 30%
• Example: Income from Investment Fund Units
18. Section 194LBC - Income in respect of investment in Securitization Trust
• TDS Rate: 25%
• Example: Income from Securitization Trust Investments
These sections act as the compass for deductors, guiding them to ensure precise TDS deductions.
Compliance with TDS provisions is not just a legal obligation; it's a fundamental aspect of responsible financial management.
To meet compliance requirements effectively, let's dive into Form 26Q, the quarterly return that serves as a crucial tool for deductors.
What is Form 26Q?
Form 26Q is the lifeline for resident deductors. It's a comprehensive document that encapsulates an array of payments governed by different sections of the Income Tax Act, including several Annexures, each with its purpose:
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Annexure I - Details of TDS deducted and deposited in the bank.
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Annexure I-A - Details of the deductor's challan.
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Annexure II - Details of deductees (individuals or businesses from whom TDS is deducted).
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Annexure IIA - Breakup of TDS deducted on payments other than salary.
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Annexure III - Summary of TDS deducted on interest, dividends, and other sums.
Navigating the TDS Calendar: Due Dates Matter
Form 26Q is a quarterly ritual, and the due dates are tied to the respective quarters of the fiscal year.
• April-June quarter: Due date - 31st July.
• July-September quarter: Due date - 31st October.
• October-December quarter: Due date - 31st January.
• January-March quarter: Due date - 31st May.
Meeting these deadlines is imperative for deductors to avoid penalties and late fees.
Interest on TDS: Balancing the Financial Equation
Interest becomes a significant factor in cases of non-deduction or non-payment of TDS:
• Interest for non-deduction of TDS: A penalty of 1% per month accrues from the due date of deduction to the actual date of deduction.
• Interest for non-payment of TDS: A steeper penalty of 1.5% per month applies if TDS is deducted but not remitted promptly.
The Sting of Late Fees
Late fees can take a toll if Form 26Q isn't filed within the stipulated due date.
• Late fee: Rs. 200 per day.
• Maximum late fee: The total TDS amount for which Form 26Q is to be filed.
Avoid late fees by prioritizing the timely filing of Form 26Q by filing electronically on the Tax Information Network (TIN) website.
Stay compliant and optimize your tax journey.
Form 26Q Filing Guide with Example
Here's a step-by-step guide on how to fill out Form 26Q:
Step 1: Deductor's Details
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Fill in Deductor's Name, Address, and TAN.
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Mention the Financial Year.
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Step 2: Challan Info (Annexure I-A)
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Include BSR code, Challan serial, and deposit details.
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Step 3: Deductee Info (Annexure II)
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Provide PAN, Name, and Address of Deductees.
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Specify TDS amount and date for each.
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Step 4: TDS Breakdown (Annexure IIA)
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Detail payment type, Income Tax section, and TDS rates.
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Input payment amount and TDS deducted.
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Step 5: TDS Summary (Annexure III)
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Summarize TDS deductions on interest, dividends, and more.
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Include total TDS amounts.
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Example:
Let's say you are a company (deductor) that has deducted TDS from interest payments to individuals and businesses (deductees) during the financial year 2022-23. You have deposited the TDS in a bank using challan number 123456 on June 30, 2023. XYZ Ltd. deducts TDS on interest payments in FY 2022-23, depositing Rs. 50,000 via Challan 123456 on June 30, 2023.
Deductor Details (Header)
Name of Deductor : XYZ Ltd.
Address : 123 Main Street, City
TAN :ABCDE1234F
Financial Year :2022-23
Challan Details (Annexure I-A)
BSR Code :12345678
Challan Serial Number :123456
Challan Tender Date :30/06/2023
Total Amount Deposited : Rs. 50,000
Deductee Details (Annexure II)
PAN : Name
ABUPC1234E John Smith Doe
AEDFG5678H ABC Corporation
Breakup of TDS (Annexure IIA)
Nature of Payment Section
Interest on FD 194A
Rent 194I
Summary of TDS Deductions (Annexure III)
Total TDS Deducted on Interest Rs. 2,500
Total TDS Deducted on Rent Rs. 2,000
Total TDS Deducted (Overall) Rs. 4,500
ಪಿಡಿಎಫ್‌ನಲ್ಲಿ ಫಾರ್ಮ್ 26 ಕ್ಯೂ
Form 26Q is a crucial document for TDS (Tax Deducted at Source) compliance in India. It is used to report and file TDS returns by entities deducting tax on payments made to vendors or employees. To download Form 26Q, visit the official income tax website and access the form. Ensure timely filing as per the due date to avoid penalties. This form is essential for maintaining income tax records and complying with Section 194 of the Income Tax Act.