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What is TDS?

TDS which stands for tax deducted at source has been laid down by the Income Tax Act. Under this Act, if any Company or person makes a payment, then they have to deduct tax at source if their payment exceeds a certain threshold limit, which has been specified by the department. The TDS has to be deducted by keeping the prices in mind which has been prescribed by the Tax Department. 


There are a deductor and a deductee in the pROCess. A deductor is a person or Company which makes the payment after deducting TDS, on the other hand, a deductee is that person or firm which accepts or receives the payment. The deductor has to deduct the TDS and submit it to the government, before making any form of payment. The TDS is linked to the PAN and therefore can be deduced in any form, either cash, cheque, credits or any other form of payment. The following are the types of payments in which the TDS has to be deducted:


Interest payments by Banks

Commission payments

Rent payments

Consultation fees

Professional fees


TDS Return Filings 26Q (Non-Salary)

When the payee is being paid, the TDS has to be deducted on certain occasions by the payer. This payment is not the payment of the salary but is different from it of which the payer has to file a TDS return in the Form 26Q, also called the non-salary form. This 26Q has to be submitted on a quarterly basis. 


Requirements for 26Q

The 26Q has just one annexure which is something different to the annexure 24Q. The 24Q has two annexures. The following details have to be furnished: 

All Challan details including all BSR code, date of payment, total amount etc.

All the details of deductor and deductees have to be specified. 

Also, if the deductor has not deducted TDS or has either deducted at a lower rate, then the reasons for the same have to be mentioned in the form. 


Penalties for late filing of 26Q:

Under section 234E, a late Filing Fees has to be submitted per day if there is a delay in the payment pROCedures. The penalty would be Rs. 200 per day until a total fine becomes equal to the TDS amount.

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FAQ - Frequently asked questions

What is form 26Q?

A taxpayer pays taxes on every kind of income. When an income which is not the salary, is received by the payee, form 26Q is used to file the TDS returns. Form 26Q is used to mention the amount of income and the TDS deducted on that income.

Can I add challan for all Quarter (Q1, Q2, and Q3)?

Yes, you can add for all the quarters,

Can I move the Challan entries from Q1 to Q3?

No, you cannot move, but you delete entries from one quarter by filing the revised return and then add it in the other quarter doing the same.

Can I move the Challan entries from Q1 to Q3?

Can I move the deduction entries from 1 challan to another challan?

Can I move the Challan entries from Q1 to Q3?

Difference between Form 24Q and Form 26Q