Get the free FORM NO. 27C - Rushabh Infosoft Ltd.

FORM NO. 27C See rule 37C Certificate under proviso to sub-section (1) of section 206C of the Income-tax Act, 1961 Certificate No. Income-tax Office, Date To name and address of the seller WHEREAS

How to fill out form no 27c

How to fill out Form No. 27C:

1. Start by obtaining the form from the relevant tax authorities or downloading it from their official website.
2. Read the instructions provided on the form carefully to understand the information and documents required to complete it.
3. Begin filling out the form by entering the name and address of the deductor (buyer) and the deductee (seller).
4. Provide the Permanent Account Number (PAN) or Tax Deduction and Collection Account Number (TAN) of both the deductor and deductee.
5. Fill in the details of the transaction for which the form is being issued, including the nature of the payment, invoice or document number, and date of payment.
6. Determine the threshold limit for TDS (Tax Deducted at Source) mentioned in the form and verify if it applies to your transaction.
7. If the transaction exceeds the threshold limit, indicate the estimated amount likely to be paid during the financial year and the amount for which no tax is required to be deducted.
8. Provide the reasons for non-deduction or lower deduction of tax, if applicable.
9. Ensure all the information provided is accurate and then sign the form along with the relevant date.
10. Finally, submit the filled out Form No. 27C to the designated tax authorities within the required timeframe.

Who needs Form No. 27C:

1. Any individual or entity who is a buyer (deductor) and is responsible for making payment to a seller (deductee) for certain specified goods is required to fill out Form No. 27C.
2. The form is typically used for transactions where tax is not required to be deducted at source or the deductor anticipates lower deduction of tax than the specified threshold limit.
3. This form is specifically applicable to transactions related to timber, forest produce, and other forest products as mentioned in the Income Tax Act, 1961.
4. It assists the tax authorities in keeping track of transactions with lower or no TDS deduction, ensuring compliance with tax regulations and preventing tax evasion.
5. Both the deductor (buyer) and deductee (seller) are required to maintain a copy of this form for future reference and for providing to the tax authorities if requested.

For pdfFiller’s FAQs

What is form no 27c?

Form No 27C is a declaration to be filed by the buyer for non-deduction of tax at source. It is used for claiming exemption from TCS (Tax Collected at Source) on goods purchased.

Who is required to file form no 27c?

The buyer is required to file Form No 27C if they want to claim exemption from TCS on goods purchased.

How to fill out form no 27c?

Form No 27C can be filled out by providing details such as buyer's name, address, PAN (Permanent Account Number), seller's name, address, PAN, nature of business transaction, and details of goods purchased.

What is the purpose of form no 27c?

The purpose of Form No 27C is to declare that the buyer is eligible for exemption from TCS on goods purchased.

What information must be reported on form no 27c?

Form No 27C requires the reporting of buyer's details (name, address, PAN), seller's details (name, address, PAN), nature of business transaction, and details of goods purchased.

Where do I find form no 27c?

The premium version of pdfFiller gives you access to a huge library of fillable forms (more than 25 million fillable templates). You can download, fill out, print, and sign them all. State-specific form no 27c and other forms will be easy to find in the library. Find the template you need and use advanced editing tools to make it your own.

How can I edit form no 27c on a smartphone?

You can easily do so with pdfFiller's apps for iOS and Android devices, which can be found at the Apple Store and the Google Play Store, respectively. You can use them to fill out PDFs. We have a website where you can get the app, but you can also get it there. When you install the app, log in, and start editing form no 27c, you can start right away.

How do I complete form no 27c on an iOS device?

Install the pdfFiller iOS app. Log in or create an account to access the solution's editing features. Open your form no 27c by uploading it from your device or online storage. After filling in all relevant fields and eSigning if required, you may save or distribute the document.