Form 27Q is a quarterly TDS return that must be filed by deductors for non-resident Indians (NRIs) and foreign companies when TDS is deducted on income (excluding salary) such as interest, dividend, royalty, technical fees, etc. This form ensures that tax deducted from payments made to non-residents is reported correctly.

📌 Applicability of Form 27Q
Form 27Q is applicable for:
🔹Payments to Non-Resident Indians (NRIs)
🔹Payments to foreign companies
🔹Nature of income: interest, dividend, royalty, technical service fee, etc., except salary
🔹Deductors: Any person (resident or non-resident) making payment to NRIs/foreign entities and deducting TDS

💼 Applicable Income
🔹Interest (other than Sec 194A)
🔹Royalty & Technical Fees
🔹Dividend
🔹Other Non-salary payments to NRIs

💳 TDS Payment Due Dates
🔹Monthly: 7th of next month
🔹March: 30th April
🔹Government deductors: Same day

⚠️ Penalties & Interest
1. Interest on Late Deduction/Payment (Section 201)
🔹1% per month: From date when TDS was deductible to actual date of deduction
🔹1.5% per month: From deduction date to payment date
2. Late Filing Fee (Section 234E)
🔹₹200 per day till return is filed
🔹Maximum: TDS amount
3. Penalty u/s 271H
🔹Ranges between ₹10,000 to ₹1,00,000
🔹Applicable if return is not filed within one year from the due date

❌ If TDS is Not Deducted
🔹Treated as assessee-in-default
🔹Disallowance of expense u/s 40(a)(i)
🔹Interest & penalty applicable

📂 Essential Details Required for Form 27Q Filing
🔹PAN of deductor & deductee (if available)
🔹TRC (Tax Residency Certificate) for DTAA benefits
🔹Details of payments made
🔹Nature of income
🔹Date of deduction & payment
🔹TDS Challan details

📅 Due Dates for Return Filing: