Question 1

What is the meaning of annual e-TDS/TCS Return? Can it be filed using software?

Accepted Answer

Answer: Annual e-TDS return is the TDS return which is filed electronically in Form Nos. 24Q, 26Q or 27Q, similarly, Annual e-TCS return is the TCS returns which also has to be filed electronically in Form No. 27EQ. TDS return is filed under section 206 of the Income Tax Act and TCS return is filed u/s 206C of the IT Act.

These returns are furnished in a CD/Pen Drive along with a signed attestation in Form No. 27A when Annual TDS returns are filed or Form No. 27B is filed in the case of Annual TCS return. Yes, annual e-TDS/TCS Return can be filed using our software - Gen e-TDS.

Question 2

Which forms are required to file annual/quarterly TDS/TCS returns?

Accepted Answer

Answer: Forms which are required to file annual/quarterly TDS/TCS returns are as follows along with periodicity & particulars:

Form No.	Particulars	Periodicity
Form No. 24Q	Quarterly statement for tax deducted at source from 'Salaries'	Quarterly
Form No. 26Q	Quarterly statement of TDS in respect of all payments other than 'Salaries'	Quarterly
Form No. 27Q	Quarterly statement of tax deduction from interest, dividend or any other amount payable to non-residents	Quarterly
Form No. 27EQ	Quarterly statement of TCS	Quarterly

Question 3

What refers to as quarterly e-TDS/TCS statement? Can it also be prepared using this software?

Accepted Answer

Answer: Yes. TDS/TCS returns filed in electronic form as per section 200(3)/206C, as amended by the Finance Act, 2005, are quarterly TDS/TCS statements. As per the Income Tax Act, these quarterly statements are required to be furnished from FY 2005-06 onwards. The forms used for quarterly e-TDS statements are Form Nos. 24Q, 26Q and 27Q and for quarterly e-TCS statement is Form No. 27EQ. These statements filed in CD/Pen Drive should be accompanied by a signed verification in Form No. 27A in case of both e-TDS/TCS statements.

Question 4

What is the file format or data structure for the preparation of e-TDS/TCS return?

Accepted Answer

Answer: e-TDS/TCS must be prepared by the e-filing administrator in a prescribed file format or data structure. File format is prescribed for each return separately, be it a Quarterly return (FY 2005-06 onwards).

Question 5

What is Form No. 27A?

Accepted Answer

Answer: Form No. 27A is a summarized form of quarterly e-TDS/TCS statements to be filed by the deductor or collectors in paper format along with quarterly statements.

Form No. 27A is a summarized form of e-TDS/TCS returns which encompasses control totals of 'amount paid' & 'income tax deducted at source'.

The control totals of 'amount paid' & 'income tax deducted at source' furnished in Form No. 27A should be equal to the corresponding control totals in e-TDS/TCS return. For each e-TDS/TCS return, a separate Form No. 27A has to be filed.

Question 6

Who is eligible to sign the Form 27A?

Accepted Answer

Answer: Form 27A is the crux of the TDS/TCS statement. The same individual who has authority to sign the TDS/TCS statement in paper mode is eligible to sign the Form 27A.

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