A practical walk-through of every quarterly TDS/TCS return form — what each one covers, who must file it and the most common errors to avoid.
Four quarterly forms — 24Q, 26Q, 27Q and 27EQ — cover the entire TDS and TCS reporting universe in India. Choosing the wrong form, or misclassifying a deductee, is one of the most common causes of TRACES defaults. This guide breaks down each form in plain language.
Form 24Q is used to report TDS deducted from salaries under Section 192. It is filed quarterly and contains two annexures.
Every employer paying salaries above the basic exemption limit — companies, LLPs, firms, proprietors, government departments, trusts.
Form 26Q covers TDS on all payments made to resident deductees other than salary. It is the most commonly used TDS form and includes a wide range of sections.
| Section | Nature of payment | Common threshold |
|---|---|---|
| 194A | Interest other than securities | ₹40,000 (₹50,000 for senior citizens) |
| 194C | Contractor / sub-contractor payments | ₹30,000 single / ₹1,00,000 aggregate |
| 194H | Commission & brokerage | ₹15,000 |
| 194-I | Rent — land, building, machinery | ₹2,40,000 per year |
| 194J | Professional / technical services | ₹30,000 |
| 194Q | Purchase of goods > ₹50 lakh | ₹50,00,000 |
Form 27Q reports TDS deducted on payments made to non-residents, foreign companies and NRIs. The governing section is primarily 195, with specific rates for fees for technical services, royalty, interest and capital gains.
Form 27EQ reports TCS collected by sellers under Section 206C and 206C(1H). It is also a quarterly form but with an earlier due date than TDS — the 15th of the month following the quarter.
Technically, a nil return is not mandatory under current rules, but filing a NIL declaration on TRACES is recommended so that the system does not flag a default. Taxpex files NIL declarations as part of our retainer.
Yes — the same TAN files separate 24Q, 26Q, 27Q and 27EQ returns each quarter as applicable.
Senior contributor at Taxpex Consultancy. Reviewed by a practising Chartered Accountant. Published on 12 June 2026 · Updated on 12 June 2026.
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Yes — monthly TDS, quarterly 24Q/26Q returns and Form 16 generation.
via Compliance ServicesCGST + SGST applies for intra-state supplies (supplier and place of supply in same state). IGST applies for inter-state and imports.
via GST CalculatorForm 16 is for salary TDS (annual); Form 16A is for non-salary TDS (quarterly).
via TDS Return FilingYes. FD interest is taxable at your slab rate and TDS is deducted if interest crosses ₹40,000/year (₹50,000 for senior citizens).
via FD Calculator