Form 27Q is a TDS (Tax Deducted at Source) return form used for payments made to Non-Resident Indians (NRIs) and foreign companies. When a person or business in India makes payments like interest, rent, or professional fees to an NRI, they must deduct TDS as per the Income Tax Act. The deducted tax is then reported using Form 27Q.
To file Form 27Q, the deductor must provide details such as the PAN of the deductor and the NRI payee, payment details, tax deduction information, and challan details of the tax deposited. This form must be filed every quarter to ensure compliance with tax regulations.
