Form 27EQ

Form 27EQ is for TCS returns. Tax Collected at Source (TCS) can be defined as the income tax gathered by the seller from the payee on the sale of specific items in India. Rates are characterized by which tax is composed.

A tax collected should be cited in Form 27EQ under section 206 of the Income Tax Act.

It is the function of the employer, to give a certificate which is evidence that TDS is reduced by the employer. The information of TCS should be noticed in Form 27EQ while filing TDS returns quarterly.

 Characteristics of Form 27EQ

  • Form 27EQ is u/s 206 of the Income Tax
  • TCS is tax gathered at the source and deducted by the payer.
  • TCS is collected on Quarterly.
  • TAN is the most essential details to be listed in the form.
  • The non-govt executive has to mention their PAN in their form.
  • The government employer has to mention ‘PANNOTREQD’.

Due Dates


: Since, these guidelines apply from 1st June 2016,

  • There is no change in the due date of 15th May for the quarter that ended on 31st March 2016.
  • The statement for the quarter ending on 31st March 2016 has to be submitted by 15th

When TCS is deposited without challan

  • If TDS is deposited without challan, the relevant individual will give Form 24G to the agency approved by the Principal Director of income tax (systems).
  • Form 24G should be given within 15 days from the end of the relevant month.
  • If Form 24G is given in March, it must be surrendered on or before 30th April.
  • Form 24G must be given as:
  1. Electronically under digital signature;
  2. Electronically with confirmation in Form 27A or;
  3. Confirmed through an electronic process as listed in sub-rule (4B).
  • The relevant individual in the income tax department should be confirmed about the Book Identification number. This number was produced to each of the employers or deductor.