The specific TDS/TCS statements filing deadline has been extended by the Central Board of Direct Taxes (CBDT) to September 30, 2023. The board has given a waiver in completing the following compliance standards within the authority provided under Section 119 of the Income Tax Act, 1961:
- According to Rule 31A of the Income-tax Rules, 1962, the statement of the tax deduction for the first quarter of the financial year 2023–24, which is required to be furnished in Form No. 26Q or Form No. 27Q, can now be provided on or before September 30, 2023. Before this announcement, the last date for furnishing the statements was 31st July 2023.
- According to Rule 31AA of the Income-tax Rules, 1962, the statement of tax collection for the first quarter of the financial year 2023–24 can now be furnished in Form No. 27EQ till 30th September 2023, earlier it was also provided on or before 15th July 2023.
Form 26Q
For any payments received except salaries, Form 26Q must be submitted in order to claim a tax deduction at the source.
Form 27Q
Form 27Q is a TDS return or Statement that contains information on tax deductions made at the source on payments (except salary) made to non-resident Indians and foreigners.
Read also: All About TDS Return Forms 24Q 26Q 27Q 27EQ with Due Dates
Form 27EQ
The purpose of this document is to inform the Income Tax Department of the tax collection and deduction at source by the seller. Section 206 of the Income Tax Act governs and provides guidelines for the filing of Form 27EQ.
The above-mentioned forms are now available till 30 September 2023.
