Form 27Q: TDS return on payments to NRIs

Under income tax laws in India, taxpayers have been made liable to deduct tax at source of payments made to Non-Resident Indians (NRIs). Form 27Q acts as the statement of this tax deduction of payments made to NRIs. In this guide, we will talk about this form in detail.

Table of Contents

What is Form 27Q?

Form 27Q is the TDS return statement for the non-salary payments made to an NRI and foreigners. Once the TDS return is filed, the TDS deductor must issue NRI Form 16A or a TDS certificate. The TDS certificate must be sent to the NRI within 15 days of the deadline for filing TDS returns for the relevant quarter.

Form 27Q sample

Details in Form 27Q

The following details are included in Form 27Q:

Payer details

PAN
TAN
Contact details
Name
Address
Financial year
Assessment year
Original statement or the receipt number of the return already filed

Payee

PAN
Telephone number
Email ID
Address
Contact number
Name
Branch of the division

Challan

TDS amount
BSR code
Collection code
Tax deposit date
Method of TDS deposition
Education Cess amount
Amount of interest
Total tax deposit
Number of demand draft or cheque

Deduction

PAN
Amount of TDS
Name of the tax collector
Amount paid to payee

Due dates for filing TDS of a fiscal

April-June or Quarter 1 July 31
July-September or Quarter 2 October 31
October-December or Quarter 3 January 31
January to March or Quarter 4 May 31

FAQs

What is TDS?

TDS is tax deducted at source.

What is the meaning of TDS?

Income tax laws in India has provisions for tax deduction at source to check evasions. This type of tax deduction is known as tax deduction at source (TDS).

Who is liable to deduct TDS?

TDS is deducted by the company making the payment.

On what kind of payments TDS is deducted?

TDS is imposed on several kinds of payments, including salary, rent, commission, brokerage, commission, professional fees, interest, etc.

What is TDS return?

A TDS return is a statement of taxes paid during a quarter. The statement is submitted by the deductor to the Income Tax Department.

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Sunita Mishra

An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.

In addition to her professional accomplishments, Sunita holds an MA degree in Sanskrit, with a specialisation in Indian Philosophy, from Delhi University. Outside of her work schedule, she likes to unwind by practising Yoga, and pursues her passion for travel.
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