How to Fill Form 26QD -Complete Details- Due Date Steps filing procedure 194M TDS

Here we will learn about Form 26QD-new form notified by CBDT for Payment under Section 194M with example,Its due date ,Procedure ,return filing,website for TDS Deposit and how to download TDS Certificates 16D

What is Form 26QD

It is a common challan cum return form to be filled in case of payment under Section 194M

This form is to be filled in case of deduction of TDS Under Section 194M

As per Section 194M

On payment to contractor more than 50 lacs during the year,TDS is to be deducted @ 5%

This section is applicable only in case of individual/HUF not liable to audit

Example

Mr Sanjay Kumar entered into a contract with Ajay Builders for construction of his house

As per contract, Sanjay had to Pay Ajay Builders 60 LACS IN Nov 20 2019

Sanjay will deduct 3 Lacs (5% TDS From this 60 lacs and will pay Balance 57 lacs to government

This 3 lacs he will deposit to government by 30th of Next month by filling Form 26QD BY 30 Dec 219

Also Sanjay will download and give TDS Certificate to Ajay in form 16C within 15 Days of Form 26QD Due date (by 14 Jan 2020)

Steps - How to fill form 26QD

1. Go to www.incometaxindiaefiling.gov.in\
2. Click 'e-Pay Tax' button
3. Click 'Continue to NSDL Website'
4. Following page will appear
5. https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp
6. On Tab TDS on Payment of Contractor Form 26QD
7. Click Proceed
8. Fill Details
9. Submit
   
   

What details to be provided in Form 26QD

Details to be provided in Form 26QD

1. Financial Year - Major Head Code* Minor Head Code*
2. Permanent Account Number (PAN) Or Aadhaar No. of Deductor
3. Full Name of Deductor*
4. Complete Address of Deductor, PIN, Mobile No., Email ID
5. Permanent Account Number (PAN) Or Aadhaar Number of Deductee
6. Category of PAN*
7. Status of PAN*
8. Full Name of Deductee
9. Complete Address of Deductee, PIN, Mobile No., Email ID
10. Nature of payment (work in pursuance of a contract/commission/brokerage or fees for professional services)
11. Date of Contract/Agreement**
12. Is it a case of non-deduction/Lower deduction on account of certificate under section 197?
    (Please Tick Yes/No)
    Yes
    No
13. Number of the certificate under section 197 issued by the Assessing Officer for non-deduction or lower deduction.
14. Amount Paid/Credited (in Rs.)
15. Date of payment/credit**
16. Rate at which deducted
17. Amount of tax deducted at source
18. Date of Deduction**
19. Date of Deposit**
20. Mode of payment
21. Simultaneous e-tax payment
22. Details of Payment of Tax Deducted at Source (Amount in Rs.)
23. TDS (Income Tax)(Credit of tax to the deductee shall be given for this amount)
24. Interest, Fee, Total payment
25. Total payment in Words (in Rs.)

* To be updated automatically

** In dd/mm/yyyy format.”.

Is 26QD a challan or a return

Normally for deposit of TDS ,Challlan and Return are Different

Example

If we need to deposit TDS under Section 194C

We need to pay tax in Challan 281 and Fill details in Form 26Q

However for Deposit of TDS Under Section 194M

We need to pay tax and Fill details in Form 26QD

What Is Due Date for 26QD

It is to be filled by 30th of Next Month of Deduction of TDS

Example

TDS of Oct 2019 is to be deposited by 30 Nov 2019

TDS of Nov 2019 is to be deposited by 30 Dec 2019 and not 31 Dec 2019

Changes in Due Date of 26QD TDS Return Due to Lockdown

However,Due to Lockdown,Government has Extend Due Dates as follows

What is interest/fees/penalty for late deposit of Form 26QD

For Late Deduction of TDS we have to pay Interest 1%

For Late Deposit of TDS,We have to pay interest 1.5%

Also for Late fiing of this form 26QD,we have to pay 200 per day late fees

This late fees cant be more tha TDS amount

Who has to fill this form 26QD

This form is to be filled by

Individual and HUF

Note-This form is applicable in case of personal payment

Also if TDS Rate is more than 50 lacs,this form is to be filled

Can Payment for this form be made online or offline/

As per Notification 98/2019

This payment can only be paid online by Net banking/Debi Card

In which case Form 26QD is not to be filled

This form is not to be filled in case of payment upto 50 Lacs

This form is not applicable in case payment is being made by

Company

Partnership

Individual/HUF having audit in last year

What is Procedure after filling Form 26QD 16D

Within 15 days of filling Form 26QD

Deductor has to give TDS Certificate to Deductee in form 16C

How to Download TDS Certificate for Form 26QD

TDS Certificate for Form 26QD is Form 16C

It is to be downloaded from TRACES Website

Deductor has to Register on TRACES Website under 'Register as a tax payer option' and download this form

What can Deductee do of this TDS Deducted

Deductee can check his TDS Deducted in Form 26AS Online

He can show this TDS while filing his ITR

He can deduct the same from his Income Tax Liability

Download Form pdf

Download Notification for Form 26QB -Download in pdf