The anisotropy of the structural and electronic parameters of the quasi-one-dimensional ternary transition metal chalcogenides TaTlX3(X = S, Se) is investigated through first principles calculations employing GGA-PBE and HSE06 functionals. The lattice parameters, bondlengths and cell volume obtained through GGA-PBE calculations are in excellent agreement with experimental results. Chains of edge sharing [TaX6]1∞ octahedral columns along [010] account for the quasi-one-dimensional structure of both compounds. Bandstructure calculations employing HSE06 functional show that TaTlS3 and TaTlSe3 are indirect bandgap semiconductors with bandgap of 1.15 eV and 0.84 eV respectively. The Q1D structure stems from the strong Ta-X bonds along the b-direction and weaker bonds in the other two directions, as reflected in the dispersion diagrams. Carrier effective mass and charge recombination rates show marked anisotropy along different high symmetry directions of the Brillouin zone, with significantly small values along the b-direction. Small carrier effective masses and charge recombination rates of the materials indicate their possible solar energy applications. Anisotropy of carrier mobility of these materials may make them suitable for novel sensor applications. The moderate bandgap of the materials are suitable for bottom layers of tandem solar cells.