How to file Form 26Q?

Form 26Q is a TDS return to report the details for payments made other than salary, such as rent, professional fees, interest, etc. to residents. The deductor needs to deduct TDS and file Form 26Q on a quarterly basis.

Let’s say as an entity, you’re making a payment in terms of a commission or brokerage to your broker exceeding ₹15,000 in a financial year, then, you are required to deduct TDS at a rate of 5% and also file Form 26Q.

For any rent payments made by entity exceeding ₹2.4 lakhs in a financial year, then, a TDS needs to be deducted at a rate of 10% and also file Form 26Q.

Individuals and HUFs are only required to deduct TDS and file Form 26Q if an audit is applicable.

Here is the other list of payments covered under Form 26Q.

Due date to deposit TDS

You’re required to deposit the TDS by the 7th of next month, for the particular month in which the TDS has been deducted.

Note: For the month of March, it is the 30th of April.

Due date to file Form 26Q

Form 26Q is required to be filed at the end of every quarter. Hence you need to file on the 31st of July, October, January, and May of a financial year.

How to File Form 26Q?

To File a TDS return form 26Q, first, you need to download the RPU utility from NSDL and generate a txt. file.

To download RPU Utility:

  1. Go to the NSDL website
  2. Download the TDS RPU utility, from Download RPU version 4.5
  3. Select the Form 26Q, and click on continue
  4. Enter all the required
    a. Form
    b. Challan
    c. Annex
    d. Annexure I Deductee details
  5. Click on create file to generate txt. file.

Now, you are required to download a CSI file from the NSDL portal or the e-Filing portal, from where you deposited the TDS. The CSI file contains your challan details.

To download CSI File from NSDL:

  1. Visit OLTAS Application
  2. Click on TAN Based View
  3. Enter the TAN number, period, and captcha code
  4. Click on Download Challan File

To download CSI file from e-Filing portal:

  1. Go to Home | Income Tax Department
  2. Login with TAN
  3. Navigate to e-File > e-Pay Tax
  4. Now, on dashboard, navigate to Challan Status Inquiry (CSI) File
  5. Select the period > Filter Challan

After generating a txt. file and CSI file, upload both on the FVU utility and generate the FVU file

To download TDS FVU utility:

  1. Download the utility from e-TDS/TCS Return Preparation Utility (RPU)
  2. In FVU utility, you need to upload txt. file and CSI file > select the path for the generation of error report > validate

Then, the downloaded FVU file needs to be converted into a zip file.

Lastly, in order to file Form 26Q, the prepared zip file needs to be uploaded on the e-Filing portal.

To upload the FVU file on the e-Filing portal:

  1. Go to Home | Income Tax Department
  2. Log in with your TAN
  3. Navigate to e-File > Income Tax Forms > File Income Tax Forms
  4. Click on Let’s Get Started
  5. Select Form > Financial Year and Quarter > Upload type
  6. Upload TDS (.zip) File

Do these steps seem a little confusing? Then let’s go through a quick summary

  • The process of filing Form 26Q requires downloading the RPU utility from the NSDL website and generating a txt file from it.
  • After generating the txt file, download a CSI file from the NSDL or e-Filing portal and upload both (txt & CSI file) on the FVU utility.
  • Lastly, convert the FVU file into a zip file and upload it on the e-Filing portal to file Form 26Q.

What if I missed the due date to file Form 26Q ?

If you fail to file the form, you are liable to pay a late fee of ₹200 per day will be levied till the date Form 26Q is not filed. Your late fee amount cannot exceed the amount of TDS deducted.

Here’s an article on Form 26Q: TDS on other than Salary - Learn by Quicko.

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