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FORM NO. 26G OF THE INCOME TAX ACT, 1961

Struggling to comply with TCS reporting requirements? Download our ready-to-use Form 26G format under the Income Tax Act, 1961, perfect for sellers collecting Tax Collected at Source (TCS) on goods. Available in customizable PDF and Word formats for instant use in India.

What is Form 26G?

Form 26G is the official quarterly statement prescribed under sub-section (1H) of Section 206C of the Income Tax Act, 1961. It is mandatory for every person responsible for collecting TCS on the sale of specified goods, such as motor vehicles, scrap, timber, tendu leaves, and aircraft, where the annual sales exceed ₹50 lakhs. This legal template ensures accurate reporting of TCS collected and deposited to the government, helping maintain seamless tax compliance.

Sellers must furnish Form 26G electronically through the Income Tax Department's e-filing portal or TRACES within the due dates: 31st July, 31st October, 31st January, and 31st May for quarters ending June, September, December, and March respectively.

Why is Form 26G Important?

Filing Form 26G on time is crucial to avoid hefty penalties. Late filing attracts a penalty of up to ₹1 lakh per return under Section 234E, plus interest at 1.5% per month under Section 201(1A). Non-compliance can lead to prosecution and disallowance of TCS credit for buyers. Using a professional Form 26G sample simplifies the process, reduces errors, and ensures your TCS details reflect correctly in Form 26AS for all parties involved.

This ready-to-use Form 26G format saves time, minimizes manual calculations, and provides a structured layout compliant with Income Tax Department requirements in India.

Key Elements of Form 26G Format

Our customizable Form 26G template includes all essential sections:

Part I: Acknowledgement - Details like TAN of the collector, financial year, quarter, and challan tendered date.
Part II: Statement of Tax Collected at Source - Comprehensive tables capturing:
- Permanent Account Number (PAN) of the collectee.
- Amount of goods sold.
- Tax collected (1% of sales value exceeding ₹50 lakhs).
- Date of collection and deposit.
- Challan number and date of deposit.
- Interest and late fee details, if any.

These elements ensure complete disclosure, making it easy to generate and file your return accurately.

Who Should Use Form 26G?

Primarily, businesses and individuals in India engaged in selling high-value goods subject to TCS, including:

Automobile dealers (motor vehicles).
Scrap traders.
Timber merchants.
Tendu leaf contractors.
Aircraft sellers.

Whether you're a small trader or large enterprise, this Form 26G PDF/Word format is indispensable for quarterly TCS compliance.

Download Form 26G Format Now!

Get your free download of the basic Form 26G sample or upgrade to premium paid options for advanced customization with AI tools or legal expert assistance. Edit effortlessly in Word, print in PDF, and file with confidence.

Important Note:

This legal template is for reference and customization purposes. Always consult a Chartered Accountant or tax professional to tailor it to your specific situation and ensure full compliance with the latest Income Tax rules. Explore related formats like Form 27EQ, Form 26AS, or other TCS agreements for comprehensive tax management.

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FORM NO. 26G OF THE INCOME TAX ACT, 1961

FORM NO. 26G

[See section 194F and rule 37]

Annual return of deduction of tax from payments on repurchase of units by Mutual Funds or Units Trust of India, under section 206 of the Income-tax, 1961, for the year ending 31^st March,

(a) Tax Deduction Account Number

(b) Permanent Account Number

2. Details of the person responsible for paying any amount referred to section 80CCB(2)

(a) Name /Designation

(b) Address

Flat/Door/Block No.

Name of premises/Building

Road/Street/Lane

Area/Locality

Town/City/District

State

Pin Code

? Has address of the person responsible for paying any amount referred to Tick as applicable Yes No.

In section 80CCB(2) changed since submitting the last return

3 Gross amount of payment made and tax deducted thereon :

Payee	Gross amount paid during the year. (Rs.)	Total amount of payment on which no tax deducted (Rs.)	Total amount of payment on which tax deducted (Rs.)	Total amount of tax deducted

				Income-tax (Rs.)	Surcharge (Rs.)	Total (Rs.)
	(1)	(2)	(3)	(4)	(5)	(6)
1. Companies
2. Person other than companies
Total

4. Details of tax deducted and paid to the credit of Central Government

Sl. No.	Challan No.	Date of payment	Amount of tax paid (Rs.)	Name and address of bank
(1)	(2)	(3)	(4)	(5)





Total

5. Details of payments made under section 80CCB(2) during the year and of tax deducted at source

(a) In the case of companies :

Sl No.	Permanent Account Number (PAN)	Name of company	Address of the company	Amount paid during the year (Rs.)	Date on which payment made	Amount of tax deducted (Rs.)	Date on which tax deducted	Date on which tax was paid to the credited of Central Government	Tax deduction Certificate Number	Date of furnishing of tax deduction Certificate to the company

(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)






Total

(b) In the case of persons/payee other than companies:

Sl No.	Permanent Account Number (PAN)	Name of person / payee	Address of the person / payee	Amount paid during the year (Rs.)	Date on which payment made	Amount of tax deducted (Rs.)	Date on which tax deducted	Date on which tax was paid to the credited of Central Government	Tax deduction Certificate Number	Date of furnishing of tax deduction Certificate to the person / payee

(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)






Total

Verification

I, certify that all the particulars furnished above are correct and complete

Place: Name and signature of the person responsible for deducting tax at source...

Date: Designation

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Important Guidelines

Form No. 26G, known as the "Annual Information Return (AIR) - Statement of TDS/TCS," is used in India for reporting high-value financial transactions involving tax deduction or collection at source. It's essential for businesses and professionals to comply with income tax regulations and provide information to the Income Tax Department. Here's a brief guideline on its use and

Common Mistakes to Avoid:

Usage:

Transaction Reporting: Form No. 26G is used to report specified financial transactions that involve Tax Deducted at Source (TDS) or Tax Collected at Source (TCS) under Section 285BA of the Income-tax Act, 1961.

Annual Compliance: Entities, including banks, financial institutions, and professionals, must furnish this annual statement to the Income Tax Department, providing details of high-value transactions subject to TDS/TCS.

Common Mistakes to Avoid:

Incomplete or Inaccurate Reporting: Ensure that all required transactions are accurately reported in the form, including the nature, amount, and TDS/TCS details for each transaction.

Missed Deadlines: Adhere to the prescribed deadlines for filing Form No. 26G. Late filing may attract penalties.

Failure to Maintain Records: Keep comprehensive records of the reported transactions, as they may be subject to verification by tax authorities.

Non-compliance: Ensure that the transactions reported are in accordance with the relevant tax laws and notifications to avoid scrutiny or penalties.

Not Seeking Professional Assistance: If you're uncertain about the applicability or reporting requirements of Form No. 26G, consult with a tax advisor or chartered accountant for guidance.

Form No. 26G is crucial for monitoring financial transactions and tax compliance. By following these guidelines and avoiding common mistakes, businesses and professionals can ensure accurate compliance with the provisions of the Income-tax Act, 1961.

Frequently asked questions

What is Form No. 26G under the Income Tax Act, 1961?→

Form 26G is a legal statement in India used by TDS deductors to report credits claimed by deductees that were not allowed due to missing Form 16/16A certificates. It ensures accurate TDS reconciliation under Income Tax Rules.

Who should use or file Form No. 26G in India?→

Deductors in India who have deducted tax at source (TDS) or collected tax at source (TCS) and where deductees claim credit without proper certificates must file Form 26G on the TRACES portal.

Is Form No. 26G mandatory under Indian income tax law?→

Yes, filing Form 26G is mandatory for specified deductors quarterly via the e-filing portal to verify and reconcile TDS/TCS credits claimed by assessees in India.

In what format can I download Form No. 26G?→

Form 26G is available for free download in PDF format from the official Income Tax e-filing website in India and must be submitted electronically.

Can I customize or edit Form No. 26G?→

Form 26G is a statutory document; download the official customizable Word or editable PDF template from the Income Tax portal and fill details accurately without altering the structure.

Does Form No. 26G require stamp duty in India?→

No, stamp duty or court fee is not required for Form 26G as it is an electronic income tax form under the Income Tax Act, 1961, filed via government portals.