Collection details entry in Form 27EQ
Hello All,
This post will teach us how to enter the collection details in Form 27EQ of Saral Pro.
Let us first understand what Form 27EQ is. Form 27EQ is a TCS Return/ Statement holding information on Tax Collected at Source by the seller while receiving payments from the buyer on specified goods.
Let us now begin with it. Navigate to the Collection window in Form 27EQ. Select the Financial Year and Quarter for which the Collection details have to be entered and click on the “➕” icon to add the required details.
On entering the details respectively, click on save.
Note :
- The Collection details entry is similar to the Deduction entry, which we have seen in Form 26Q, except for a few additional fields.
- Amount of payment – the amount being paid by the buyer in the transaction
- Amount of Purchase – the amount for which the purchase is done
The saved details will be visible in the Collection entry window.
To edit the deduction details, we can click “🖊️ “, make the necessary changes and save. To delete the individual deduction detail or the details in bulk, select the respective deduction and click the Delete icon or Bulk Delete.
The collection details can also be imported via an Excel template. Navigate to the Import option and download the TDS sample template.
Enter the details in the template and import them.
This ends the reading to Form 27EQ Collection Details Entry.