Form 27EQ is the quarterly statement that mentions details and information about payment of TCS at the close of every quarter as per Section 206C of Income Tax Act 1961. This section describes the TCS paid by a seller to the income tax department. While filing this form, it has some essential ingredients like Tax collected at source (TCS), Date from which was deducted TCS, Date before which deductors should deposit TCS in Form 26QB, Amount of TCS deposited, Name of the payee, and PAN no.
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