Get the free FORM NO 27C - Singareni Collieries Company

FORM NO. 27C See rule 37C Declaration under subsection (1A) of section 206C of the Income tax Act, 1961 to be made by a buyer for obtaining goods without collection of tax PART I/We×, ×son/daughter/wife

How to fill out form no 27c

1. To fill out form no 27c, start by gathering all the necessary information. This includes details about the buyer and seller, such as their names, addresses, and taxpayer identification numbers.
2. Next, provide information about the particular goods being sold. This includes a description of the goods, their quantity, and the total value of the transaction.
3. In section A of the form, specify the nature of the transaction, whether it is for sale, lease, or transfer of goods. Also, indicate if the buyer is exempt from tax or holds a lower tax rate certificate.
4. In section B, provide details about the buyer, including their address and TAN (Tax Deduction and Collection Account Number), if applicable.
5. In section C, provide details about the seller, including their address and TAN. If the seller is not the manufacturer, provide details about the manufacturer as well.
6. If the transaction is subject to TCS (Tax Collected at Source), fill out section D accordingly. This includes providing details about the TCS certificate and the relevant sections of the Income Tax Act.
7. If the transaction is exempt from TCS, provide the reasons for exemption in section E.
8. Finally, sign and date the form, ensuring that all the information provided is accurate and complete. Attach any necessary supporting documents, if required.

Who needs form no 27c?

1. The buyer and seller involved in any sale, lease, or transfer of goods exceeding a certain value are required to fill out form no 27c.
2. This form is particularly relevant in cases where Tax Collected at Source (TCS) applies, especially for goods or merchandise sold by the government or a local authority.
3. Additionally, form no 27c may be needed when the buyer is exempt from tax or holds a certificate for a lower tax rate.
4. It is essential to consult the relevant tax authorities or seek professional advice to determine if form no 27c is required in specific transactions.

For pdfFiller’s FAQs

What is form no 27c?

Form no 27c is a declaration by a buyer for payments received without deduction of tax.

Who is required to file form no 27c?

Buyers who receive payments without deduction of tax are required to file form no 27c.

How to fill out form no 27c?

Form no 27c can be filled out by providing details of the buyer, seller, transaction amount, and reason for non-deduction of tax.

What is the purpose of form no 27c?

The purpose of form no 27c is to declare payments received without deduction of tax to the tax authorities.

What information must be reported on form no 27c?

Information such as buyer details, seller details, transaction amount, and reason for non-deduction of tax must be reported on form no 27c.

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