Form 27EQ is a quarterly statement of Tax Collected At Source. Form27EQ mentions details and information regarding TCS. Form27EQ is filed at the end of every quarter as per Section 206C of the Income Tax Act 1961.
TCS is the Tax collected by the seller. TCS is compulsory to furnish PAN by the deductors who are in non-government. However, for state deductors, the code “PANNOTREQD” has got to be mentioned on the form27EQ.
Who is required to submit Form27EQ?
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