27Q

Statement for tax deduction on income received from interest, dividends, or any other sum payable to non residents.

  • It is applicable for payments made to non-resident Indians and foreigners other than salary.
  • It has to be filled in for the declaration of Tax Deducted at source for the NRIs and Foreigners.
  • It is submitted on a quarterly basis by the deductor and is applicable for tax deducted at source under section 200(3) of  the Income Tax Act of 1961.
  • The income on which the tax is deducted at source includes interest, bonus, any additional income or any other sum owed to non-resident Indian or foreigner.
  • It is compulsory for non-government deductors to furnish PAN. For government deductors the code “PANNOTREQD”has to be mentioned on the form.