TCS Return Filing is the quarterly compliance for every person required to collect Tax Collected at Source on specified transactions. TCS is different from TDS: with TDS, tax is deducted while making a payment; with TCS, tax is collected by the seller, lessor or authorised dealer at the time the law requires it. From 1 April 2026, the Income Tax Act, 2025 has replaced the 1961 Act — TCS is now governed by Section 394 (earlier Section 206C), and the quarterly statement has been renumbered from Form 27EQ to Form 143. Our CA-assisted TCS return filing service covers collection and challan reconciliation, statement preparation under the new Act, review by a qualified Chartered Accountant, and filing support.
| Purpose | Old Form (IT Act 1961) | New Form (IT Act 2025) | Governing Provision |
|---|---|---|---|
| Quarterly TCS Statement | Form 27EQ | Form 143 | Section 397(3)(b) r/w Rule 219 |
| TCS Certificate to Buyer | Form 27D | Form 133 | Issued after the statement is filed |
| Annual Information Statement | Form 26AS | Form 168 | Section 397 |
The collector must also issue the TCS certificate in Form 133 to the buyer, within the period prescribed under the Rules — currently 15 days from the due date for furnishing the statement, not from the date you actually file it. Tell us if you need help with certificate issue for your quarter.
Under the Income Tax Act, 2025 the TCS statement has been moved onto the same quarterly calendar as the TDS statements. This is a change: Form 27EQ was previously due on the 15th of the month following each quarter, while Form 143 is due on the dates below.
| Quarter | Collection Period | Due Date |
|---|---|---|
| Q1 | April — June 2026 | 31 July 2026 |
| Q2 | July — September 2026 | 31 October 2026 |
| Q3 | October — December 2026 | 31 January 2027 |
| Q4 | January — March 2027 | 31 May 2027 |
Sellers of alcoholic liquor for human consumption, tendu leaves, timber and other forest produce, scrap, and minerals such as coal, lignite and iron ore must collect TCS at the rate applicable to that category under Section 394.
Sellers of motor vehicles and of notified luxury goods must collect TCS where the sale value exceeds the prescribed threshold — ₹10 lakh for motor vehicles. Each sale is reported buyer-wise in the quarterly statement.
Sellers of overseas tour programme packages, and authorised dealers remitting funds abroad under the Liberalised Remittance Scheme, collect TCS at the rate applicable to the purpose of remittance and the annual threshold.
A person granting a lease or licence for a parking lot, toll plaza, mine or quarry collects TCS from the licensee or lessee. A valid TAN is required before any TCS statement can be filed.
TCS on sale of goods has been discontinued. The earlier levy on sale of goods above ₹50 lakh (Section 206C(1H) of the 1961 Act) does not carry into the Income Tax Act, 2025, as the corresponding purchases are covered by TDS. If tax was deducted from a payment rather than collected, you need our TDS Return Filing service instead.
Our qualified Chartered Accountant handles the quarterly TCS statement under the Income Tax Act, 2025 — from collection records and challan matching through to filing and the acknowledgement.
Upload your TAN and collector details, the quarter-wise collection summary, TCS challan references, and buyer PAN details through your client portal. When the statement is ready to file we will ask for the TAN e-Filing login required for your order — please share it only through the order-specific method confirmed by our team, never in a general email or WhatsApp message.
Our CA reconciles each TCS challan deposited against your collection records — matching BSR codes, challan serial numbers, deposit dates and amounts — and checks buyer PAN details, so the credit reaches the right buyer's Form 168 without a mismatch.
The statement is prepared in Form 143 for collection periods from 1 April 2026, or Form 27EQ for earlier quarters, with collection-code mapping under the new Act. The validated file is generated for upload.
A qualified Chartered Accountant reviews the statement before it is filed on the Income Tax e-filing portal. Where a late-filing fee under Section 427 applies, it must be paid before the statement can be uploaded — we will tell you the amount before filing.
The filing acknowledgement is added to your order so you have a clear record of completion. Once processed, the TCS credit is reflected in each buyer's Form 168 (formerly Form 26AS), and the Form 133 certificate can be issued to them.
| Default | Section (IT Act 2025) | Consequence |
|---|---|---|
| Late Filing of the TCS Statement | Section 427 | ₹200 per day of delay, capped at the total TCS of the statement — payable before filing |
| Failure to Collect TCS on Time | Section 398 | Interest at 1% per month from the date the tax was collectible to the date it is collected |
| TCS Collected but Not Deposited | Section 398 | Interest at 1.5% per month from the date of collection to the date it is actually paid |
Part of a month is counted as a full month for interest. A collector who fails to collect may also be treated as an assessee in default, subject to the relief available where the buyer has filed their return and paid tax on the amount.
The move to the Income Tax Act, 2025 changed three things at once for collectors: the section (206C became 394), the form (27EQ became 143), and the due dates (the 15th moved to the TDS calendar). A statement filed on the old assumption is filed late. Our team prepares and files the quarterly statement under the correct framework for the period concerned — new forms for collections from 1 April 2026, old forms for earlier quarters — with challan reconciliation, buyer PAN checks and review by a qualified Chartered Accountant before filing.
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TCS Return Filing is the quarterly reporting of tax collected at source by a person required to collect it under Section 394 of the Income Tax Act, 2025 (earlier Section 206C of the 1961 Act). For collections from 1 April 2026 the statement is Form 143, which replaced Form 27EQ.
Yes. TDS is tax deducted while making a payment; TCS is tax collected in applicable situations. They have different records and statements. If you need help with deducted tax, see TDS Return Filing.
The quarterly package covers one regular TCS statement: collection and challan reconciliation, basic data review, preparation, qualified CA review, filing support and the filing acknowledgement. Complex correction work or major record reconstruction is discussed with you before any additional work begins.
A valid TAN is used for TDS and TCS compliance. If you do not have one, you can begin with our TAN Registration service.
Please keep your TAN and collector details, quarter-wise collection summary, TCS challan or payment references, and buyer PAN details where applicable. If a statement for the same period was filed earlier, share its acknowledgement as well.
This package files the statement using the applicability and records confirmed by you. If you are unsure whether a sale, receipt or transaction attracts TCS, tell us before filing so the team can review that question separately.
For Tax Year 2026-27 the due dates for Form 143 are: Q1 (April to June) — 31 July; Q2 (July to September) — 31 October; Q3 (October to December) — 31 January; and Q4 (January to March) — 31 May following the end of the tax year. Note this is a change: Form 27EQ was earlier due on the 15th of the month following each quarter, so TCS now follows the same calendar as TDS. Please send records early so we have time to check them, and any officially notified extension will be applied.
Yes. Once filing is completed, the acknowledgement is added to your client order so you have an accessible record of the work completed.
Share the previous acknowledgement and the corrected records. We will first review the scope and tell you what is needed before beginning correction work.
The form follows the period the statement relates to, not the date you file it. A late or correction statement for a quarter ending on or before 31 March 2026 is filed in Form 27EQ with the old section references, even if you file it now. Form 143 applies to collection periods from 1 April 2026 onwards.
A fee of ₹200 for every day of delay applies under Section 427 of the Income Tax Act, 2025, capped at the total TCS of that statement. The fee must be paid before the statement can be filed, so we will tell you the amount before filing. Interest may also run under Section 398 — 1% per month where the tax was not collected on time, and 1.5% per month where it was collected but not deposited.
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