Get the free Form No. 27Q See rule 31A(1)(c)(i) Quarterly statement of ...

Form No. 27Q See rule 31A(1)(c)(i) Quarterly statement of deduction of tax under sub-section (3) of section 200 of I.T. Act, 1961 in respect of payments other than Salary made to non-residents for

How to fill out form no 27q see

How to fill out form no 27Q?

1. Begin by obtaining the necessary form: Form no 27Q is a document used for the purpose of filing Tax Deducted at Source (TDS) returns for income earned by non-resident individuals, foreign companies, or NRIs (Non-Resident Indians) in India. You can easily find this form on the official website of the Income Tax Department of India or at designated tax offices.
2. Provide your basic information: Start filling out the form by entering your basic information. This includes your name, address, Permanent Account Number (PAN), and Tax Deduction and Collection Account Number (TAN). These details are crucial for the identification and tracking of your TDS returns.
3. Specify the assessment year: Indicate the relevant assessment year for which you are filing the TDS return. The assessment year refers to the financial year following the year in which the income was earned. For example, if you are filing the return for income earned in the financial year 2021-2022, the assessment year would be 2022-2023.
4. Report payment details: In this section, provide details of the payments made to non-resident individuals, foreign companies, or NRIs during the financial year. Record the nature of payment, gross amount paid, tax deducted at source, and other related information accurately. Ensure that you have the necessary supporting documents, such as invoices or receipts, to validate the reported payments.
5. Calculate tax liability and payment: Based on the information provided in the previous step, calculate the total tax liability. Deduct the tax amount already paid, if any, and determine the balance tax payable. Make sure to adhere to the relevant tax rates and deductions as per the Income Tax Act of India. Additionally, mention the TDS credit details, if any, and any interest or late fee payable.
6. Complete verification and submission: Once you have filled out all the required details accurately, review the form thoroughly. Ensure that there are no errors or omissions. Sign and date the form with your official capacity as the responsible person. Submit the form physically or electronically, depending on the prescribed method, along with any necessary annexures or supporting documentation.

Who needs form no 27Q?

1. Non-Resident Individuals: Form no 27Q is primarily required by non-resident individuals who have earned income in India. It is mandatory for them to file TDS returns and report the tax deducted on their behalf.
2. Foreign Companies: Foreign companies that have received payment from Indian sources are also required to fill out form no 27Q. This ensures proper tax compliance and accountability.
3. NRIs (Non-Resident Indians): NRIs who have earned income in India are obligated to file TDS returns and submit form no 27Q. This applies to both individuals and businesses.

In summary, form no 27Q is necessary for non-resident individuals, foreign companies, and NRIs who have earned income in India. By filling out this form accurately and submitting it on time, these individuals and entities ensure compliance with tax regulations and fulfill their obligations towards the Indian tax authorities.

For pdfFiller’s FAQs

What is form no 27q see?

Form 27Q is a statement of deduction of tax under section 200(3) of the Income-tax Act in India.

Who is required to file form no 27q see?

Any person responsible for making payments like interest, dividend, commission, etc. to non-residents is required to file Form 27Q.

How to fill out form no 27q see?

Form 27Q can be filled out online on the income tax department website using the XML utility provided.

What is the purpose of form no 27q see?

The purpose of Form 27Q is to report deductions of tax made on payments to non-residents.

What information must be reported on form no 27q see?

Information such as PAN of the deductor and deductee, payment details, nature of income, TDS details, etc., must be reported on Form 27Q.

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