Form 26Q Meaning | What is Form 26Q in TDS

What is Form 26Q?

Form 26Q is employed for the TDS on all the payments received. In this payment- salary is not considered. The form is submitted by the deductor every quarter and is applicable for TDS u/s 193, 194, & 200(3), of the tax Act of 1961. Form26Q contains just one annexure.

At the time of paying to the payee, the payer has got to deduct TDS on certain occasions. Payer has to file a TDS return in this Form. Form details including date of payment, BSR Code, total amount, details of the deductor, and therefore the deductees have to be mentioned. If the deductor has not deducted TDS or has deducted it at a lower rate, the explanations for the same have to be mentioned in this form.

Also, See: Form 27eq | Form 16