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Statement of collection of tax (TCS) – Form 27EQ under Section 206C (3)

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Every collector, shall, in accordance with the provisions of the proviso to subsection (3) of section 206C, deliver, or cause to be delivered, to the Director General of Income‐tax (Systems) or the person authorised by the Director General of Income‐tax (Systems), a quarterly statement in Form No. 27EQ

Statements referred to above for the quarter of the financial year ending with the date specified in column (2) of the Table below shall be furnished by the due date specified in the corresponding entry in column (3) of the said Table:‐

 

SI No Quarter of the financial year ended Due date
(1) (2) (3)
1 30th June 15th July of the financial year
2 30th September 15th October of the financial year
3 31st December 15th January of the financial year
4 31st March 15th May of the financial year immediatelyfollowing the financial year in which collection is made

 

The statement may be furnished in any of the following manners, namely:

  1. furnishing the statement in paper form;
  1. Furnishing the statement electronically in accordance with the procedures formats and standards specified under sub‐rule (5) along with the verification of the statement in Form 27A.  

Where;

  1. the collector is an office of the Government; or
  2. the collector is the principal officer of a company; or
  3. the collector is a person who is required to get his accounts audited under section 44AB in the immediately preceding financial year;
  4. the number of collectee’s records in a statement for any quarter of the financial year are twenty or more,

Where the collector is a person other than the person referred above, the statement may, at his option, be delivered or cause to be delivered by Furnishing the statement electronically in accordance with the procedures formats and standards specified under sub‐rule (5) along with the verification of the statement in Form 27A.

The collector at the time of preparing statements of tax collected shall;

  1. quote his tax deduction and collection account number (TAN) in the statement;
  2. quote his permanent account number (PAN) in the statement except in the case where the collector is an office of the Government;
  3. quote the permanent account number of all collectees;
  4. Furnish particulars of the tax paid to the Central Government including book identification number or challan identification number, as the case may be.

The Director General of Income‐tax (Systems) shall specify the procedures, formats and standards for the purposes of furnishing of the statements and shall be responsible for the day to day administration in relation to furnishing of the statements in the manner so specified.

Where a statement of tax collected at source is to be furnished for tax collected before the 1st day of April, 2010, the provisions of this rule shall apply as they stood immediately before their substitution by the Income‐tax (Amendment) Rules, 2010. ”