Form 27EQ Due Date — Filing Calendar 2026-27
Due Date
15th April, 15th July, 15th October, 15th January
What is Form 27EQ?
Form 27EQ is the quarterly TCS (Tax Collected at Source) return. It is filed by sellers/collectors who collect tax at source from buyers on notified goods and transactions. TCS is collected in addition to the sale amount and deposited with the government.
Who files it?
Sellers and collectors who are required to collect TCS under Chapter XVII-BB of the Income Tax Act — including sellers of scrap, timber, minerals, tendu leaves, and transactions above prescribed thresholds — must file Form 27EQ quarterly.
Late Fee & Penalty
Late fee: ₹200 per day under Section 234E from the due date, capped at the TCS amount for the quarter. Penalty under Section 271H for non-filing beyond 1 year.
Frequently Asked Questions — Form 27EQ
What are the Form 27EQ due dates for FY 2026-27?
Q1 (Apr–Jun): 15th July. Q2 (Jul–Sep): 15th October. Q3 (Oct–Dec): 15th January. Q4 (Jan–Mar): 15th April.
What transactions attract TCS under the Income Tax Act?
TCS applies to sale of scrap (1%), timber (2.5%), minerals (1%), and since Finance Act 2020, also on sale of goods above ₹50 lakh (0.1%), overseas remittances, foreign travel packages, and sale of motor vehicles above ₹10 lakh.
Who can claim credit for TCS collected?
The buyer from whom TCS is collected can claim it as advance tax credit in their income tax return. TCS is reflected in the buyer's Form 26AS and AIS.
What is the difference between TDS and TCS?
TDS is deducted by the payer from payments made to the payee. TCS is collected by the seller from the buyer at the time of sale. Both are deposit mechanisms that allow the tax authority to collect tax at the source of income or transaction.
Related Deadlines
Form 26Q
Form 26Q due dates: 31st May, 31st July, 31st October, 31st January. TDS return for non-salary payments like professional fees and rent for FY 2026-27.
Form 24Q
Form 24Q quarterly due dates: 31st May, 31st July, 31st October, 31st January. TDS return for salary payments, late fees, and FY 2026-27 calendar.
TDS Deposit
TDS deposit due date is 7th of every month (30th April for March). TDS challan payment schedule, interest on late deposit, and FY 2026-27 calendar.