Quarterly TDS Filing Across Chennai

Form 27Q is the quarterly statement prescribed under Rule 31A(1)(c) for TDS on payments to non-residents and foreign companies. It captures the DTAA-relief flag, country code, nature-of-remittance code and supporting Form 15CA / 15CB references.

Form 24Q is the quarterly statement prescribed under Rule 31A(1)(a) for reporting TDS on salaries under Section 192. It carries deductee-wise PAN-linked deduction records and, in Q4, the Annexure II salary reconciliation that drives Form 16 Part B.

PAN-Aadhaar linkage refers to the obligation under Section 139AA to intimate the Aadhaar to the income-tax authority. PANs not linked to Aadhaar by the cut-off date are rendered inoperative under Rule 114AAA and attract Section 206AA higher-rate deduction consequences.

Section 194Q is the buyer-side deduction provision on purchase of goods. Buyers with preceding-year turnover above ten crore rupees deduct zero point one per cent on the consideration exceeding fifty lakh rupees from a resident seller. Interaction with Section 206C(1H) is governed by Circular 13/2021.

Section 194O obliges an e-commerce operator to deduct tax at one per cent on the gross amount of sale of goods or services facilitated through its platform for a resident e-commerce participant, on annual gross of more than five lakh rupees for individuals or HUFs.

Return Preparation Utility — the free Java-based utility issued by Protean (formerly NSDL e-Gov) for preparation of the quarterly TDS / TCS statement and correction statements. The output FVU file is filed through TIN-FC or the income-tax e-filing portal.

Deductor is the person responsible for paying any sum on which Chapter XVII-B obliges deduction of tax at source. Liability attaches at the time of credit or payment, whichever is earlier. Every deductor must hold a TAN and file quarterly statements.

An assessee in default under Section 201(1) is a deductor who fails to deduct tax or fails to pay deducted tax to the Central Government. The proviso saves the deductor where the resident payee has filed a return, accounted for the income and paid the tax, certified in Form 26A.

Form 15CA is the information furnished by the remitter for a remittance to a non-resident. Part A, B, C or D applies depending on the threshold and chargeability. The 15CA acknowledgment is quoted in Form 27Q against the corresponding deductee record.

Form 26Q is the quarterly statement prescribed under Rule 31A(1)(b) for resident non-salary deductions — interest, contractor payments, professional fees, commission, rent, dividend and the various other Chapter XVII-B sections covering resident payees.

Justification report is the line-item explanation of defaults raised on a quarterly statement — short deduction, short payment, late deduction, late payment, interest, late filing fee and PAN error defaults. Downloaded from TRACES to plan corrective action.

Challan tagging is the act of linking a deposited OLTAS challan against deductee-level deductions in the quarterly statement. The challan CIN, amount and section must reconcile; an unconsumed challan balance survives for later quarters but cannot be used across TANs.

Quarterly statement filed by every person responsible for deducting tax under Section 192. Reports salary-wise PAN-level deductions; Annexure II in Q4 reconciles annual salary, deductions claimed and taxable income for each employee

Captures deductions under Sections 193 to 196D for resident payees — interest, contractor payments, commission, rent, professional fees, dividend, purchases under Section 194Q and other resident deductions

Captures deductions under Section 195 and other Chapter XVII-B sections where the payee is a non-resident or a foreign company. Carries DTAA-relief flags, country code and No-PE declaration references

Statement of tax collected at source under Section 206C — scrap, motor vehicles above ten lakh rupees, foreign remittance under LRS, overseas tour packages and sale of goods under Section 206C(1H)

Annual TDS certificate issued by every employer to an employee. Part A is downloaded from TRACES after successful Q4 24Q processing; Part B is the salary breakup with deductions and taxable income computation

Quarterly TDS certificate for non-salary deductions reported in Form 26Q. Generated from TRACES after the quarterly statement is processed; used by deductee to reconcile with Form 26AS and AIS

TDS certificate for deduction under Section 194-IA by a buyer of immovable property. Issued by the buyer to the seller after Form 26QB is filed

Certificate of tax collected at source under Section 206C, issued by the collector to the collectee corresponding to deductions reported in Form 27EQ

Certificate certifying that the resident deductee has furnished his return of income, included the receipt, and paid the tax due — saves the deductor from the assessee-in-default consequence under the proviso to Section 201(1)

Refund-claim utility by the deductor where TDS has been deposited in excess of the actual liability and adjustment is not feasible. Filed on TRACES with PAN, challan and reasoning

Application by a person responsible for deducting or collecting tax for allotment of a Tax Deduction and Collection Account Number. Without a TAN the deductor cannot file quarterly statements or deposit deducted tax

Application by a payee to the Assessing Officer for issue of a certificate authorising the payer to deduct tax at a lower or nil rate. Where granted, the deductor enters the certificate number in the quarterly statement

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