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Form 16C is the TDS certificate to be issued by
the deductor (Tenant of property) to the deductee (Landlord of property) in
respect of the tax deducted and deposited as TDS on rent under section 194-IB
of the Income-tax Act, 1961. |
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Form 16D is the TDS certificate to be issued by
the deductor to the deductee in respect of the tax deducted and deposited as
TDS under section 194M of the Income-tax Act, 1961. |
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Quarterly statement of deduction of tax in
respect of Salary |
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Quarterly statement of deduction of taxin respect
of payments other than Salary |
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The online form available on the TIN website for
furnishing information regarding TDS on property is termed as Form 26QB |
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Form 26QC is the challan-cum-statement for reporting the transactions
liable to TDS on rent under section 194-IB of the Income-tax Act, 1961. It is
an online form available on the TIN website. |
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Form 26QD is the challan-cum-statement for reporting the transactions
liable to TDS on PAYMENTS TO RESIDENT CONTRACTORS AND PROFESSIONALS under
section 194M of the Income-tax Act, 1961. |
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Form for furnishing information with the
statement of deduction / collection of tax at source filed on computer media
for a given period |
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This form is the declaration
under Sub-section (1A) of Section 206C of Income Tax
Act, 1961 to be made by a buyer for obtaining goods without collection
of tax |
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This is the certificate of collection of tax at
source under Sub-section (5) of Section 206C of Income Tax
Act, 1961 |
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Quarterly statement of Tax Collection at Source
(TCS) under Section 206C of Income Tax Act, 1961 |
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Quarterly statement of deduction of tax in
respect of payments other than Salary made to non-residents |
What
is Form 15CA?
As per Section 195, every person making a payment
to Non-Residents (not being a Company), or to a Foreign Company shall deduct
TDS if such sum is chargeable to Income Tax and the details are required
to be furnished in Form 15CA.
A person
responsible for making such remittance (payment) has to submit the form 15CA,
before remitting the payment. This form can be submitted both online and
offline mode. In certain cases, a Certificate from Chartered Accountant in form
15CB is required before uploading the form 15CA online.
Who is required to file Form 15CA?
As per Rule 37BB, any person responsible for paying
to a Non-Resident, not being a Company, or to a Foreign Company shall furnish
such information in Form 15CA.
Is it mandatory to submit Form 15CB?
No, it is not mandatory to submit Form 15CB. Form
15CB is an event-based form to be filled only when the remittance amount
exceeds ₹5 lakh during a financial year and you are required to furnish a
certificate from an accountant defined as per Section 288.
Can Form 15CA be withdrawn?
No, there is no option to withdraw Form 15CA.
When is Form 15CA not required to be furnished?
In accordance with sub-rule (3) of Rule 37BB,
information in Form 15CA is not required to be furnished in case of following
transactions:
- Remittance
is made by an individual and does not require prior approval of RBI
- Remittance
is of the nature specified under relevant purposes code as per RBI
Which part of Form 15CA do I need to fill?
The
furnishing of information for payment to Non-Residents not being a Company, or
to a Foreign Company in Form 15CA has been classified into 4 parts. Depending
upon the case, you will need to fill the relevant part.
PART A: Where the remittance or the aggregate of
such remittance does not exceed ₹5 lakh during the F.Y.
PART B: Where remittance or the aggregate of such
remittances exceed 5 lakh rupees during the FY and an order / certificate u/s
195(2) / 195(3) /197 of the Act has been obtained from the Assessing Officer.
PART C: Where the remittance or the aggregate of
such remittance exceed ₹5 lakh during the FY and a certificate in Form No 15CB
from an accountant has been obtained.
PART D: Where the remittance is not chargeable to
tax under the Income Tax Act, 1961.
What is Form 26QB ?
The online form available on the TIN website for
furnishing information regarding TDS on property is termed as Form 26QB
The Finance Bill 2013 has proposed that purchaser
of an immovable property (other than rural agricultural land) worth ` 50 lakh
or more is required to pay withholding tax at the rate of 1% from the
consideration payable to a resident transferor
Sec 194 IA of
the Income Tax Act, 1961 states that for all transactions with effect from June
1, 2013, Tax @ 1% should be deducted (depending upon the Date of
Payment/Credit to the Seller) by the purchaser of the property at the time of
making payment of sale consideration.
How will transactions of joint parties (more than one buyer/seller) be filed in
Form 26QB?
Online statement
cum challan Form/ Form 26QB is to be filled in by each buyer for unique
buyer-seller combination for respective share. E.g. in case of one buyer and
two sellers, two forms have to be filled in and for two buyers and two seller,
four forms have to be filled in for respective property shares.
What is Fee in Form 26QB and when is it applicable?
As per section
234E of the IT Act, 1961 read with Rule 31A (4A) of IT rules, 1962, failure on
the part of taxpayer to furnish challan-cum-statement in Form No. 26QB
electronically within seven days from the end of the month in which the tax
deduction is made will attract levy of fee to be paid by the
buyer/transferee/payer.
I have filled Form 26QB and made the payment online, but I forgot to save
the Acknowledgment Number generated at TIN website. From where can I get the
Acknowledgment Number.?
a)
Acknowledgment number for the Form 26QB furnished is available in the Form 26AS
(Annual Tax Statement) of the Deductor (i.e. Purchaser/ Buyer of property). The
same can be viewed from the TRACES website (www.tdscpc.gov.in) or
b) Taxpayer can
also click the option ‘View Acknowledgment’ hosted on the TIN website. Taxpayer
needs to enter PAN of the Buyer and Seller, Total Payment and Assessment Year
(as mentioned at the time of filing the Form 26QB) to retrieve the Acknowledgment
Number.
Form 16B is the
TDS certificate to be issued by the deductor (Buyer of property) to the
deductee (Seller of property) in respect of the taxes deducted and deposited
into the Government Account.
What is Form
26QC?
Form 26QC is the
challan-cum-statement for reporting the transactions liable to TDS on rent
under section 194-IB of the Income-tax Act, 1961. It is an online form
available on the TIN website.
The Finance Act,
2017 has introduced section 194-IB providing that Tenant of a property making
monthly rent payment exceeding ₹ 50, 000 is required to deduct tax at the rate
of 5% from the rent payable to a resident landlord (depending upon the
Date of Payment/Credit to the Landlord).
The tenant of
the property being an individual or a HUF (not liable to audit u/s 44AB) would
have to deduct the TDS and deposit the same in Government treasury.
What is Form 16C?
Form 16C is the TDS certificate to be issued by the
deductor (Tenant of property) to the deductee (Landlord of property) in respect
of the tax deducted and deposited as TDS on rent under section 194-IB of the
Income-tax Act, 1961.
What is the periodicity of filling Form 26QC?
According to rule, Taxpayer/Tenant should furnish
challan-cum-statement in Form 26QC in following scenarios:-
At the end of the FY or in the month when the
premise is vacated / termination of agreement. However, taxpayer has to
mandatorily file the Form at the end of each Financial Year (in case the
agreement period contains more than one FY and rent has been paid/credited
during the year)
In the month when the premise is vacated/
termination of agreement ( in case the agreement period falls in the same FY)
Example 1 (Rent Agreement falling across two FY):- Tenant
Mr. A has entered into a tenancy agreement with Landlord Mr. X for the period
of 11 months from October 1, 2017 to August 31, 2018 @ rent of Rs. 60,000.
Explanation: - In this case, Mr. A should file Form 26QC twice
i.e. firstly at the end of the FY 2017-18 (on March 31, 2018) and secondly at
the end of the tenancy period (on August 31, 2018). Following values will be
captured in the below fields:
Example 2 (Rent Agreement falling in same FY):- Tenant Mr. B
has entered into a tenancy agreement with Landlord Mr. Y for the period of 6
months from June 1, 2017 to November 30, 2017 @ rent of Rs. 80,000 for 6
months.
Explanation: - In this case, Mr. B will have to file Form 26QC
only once i.e. at the end of tenancy period (on November 30, 2017). Following
values will be captured in the below fields:
What is Form 26QD?
Form 26QD is the challan-cum-statement for
reporting the transactions liable to TDS on PAYMENTS TO RESIDENT CONTRACTORS
AND PROFESSIONALS under section 194M of the Income-tax Act, 1961. It is an
online form available on the TIN website.
What is the due date of payment of TDS deducted on
payment ‘TO RESIDENT CONTRACTORS AND PROFESSIONALS’ u/s 194M?
The due date of payment of TDS on ‘PAYMENTS TO
RESIDENT CONTRACTORS AND PROFESSIONALS’ is within a period of thirty days from
the end of the month in which the payment has been made.
Example: If Date of Payment is September 1st, 2019, then
due date for filing Form 26QD will be October 30, 2019’.
What is the periodicity of filling Form 26QD?
According to rule, Payer / Deductor should furnish
challan-cum-statement in Form 26QD in following scenarios:-
At the end of ‘Financial Year’
At the end of ‘Termination of Contract/Services’
Both cases or at the time of Payment/Credit
deductor/payer can file 26QD
Explanation: If Date of Payment is September 1st, 2019, then
due date for filing Form 26QD will be October 30, 2019’
What is Form 16D?
Form 16D is the TDS certificate to be issued by the
deductor to the deductee in respect of the tax deducted and deposited as TDS
under section 194M of the Income-tax Act, 1961.
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