TDS Return Form

A TDS return reports the tax deducted from payments such as salary, rent, interest, professional fees and property transactions. The applicable form depends on the payment type and the recipient.

• Form 138 is used for salary-related TDS reporting and replaces the earlier Form 24Q.
• Form 140 is used for specified non-salary payments to residents and replaces the earlier Form 26Q.
• Form 141 covers specified property, rent, professional payment and virtual digital asset transactions.
• Quarterly TDS returns are generally due on 31 July, 31 October, 31 January and 31 May.
• Transaction-based statements are generally filed within 30 days from the end of the month in which tax was deducted.
• Late filing may attract a fee of ₹200 per day, subject to the applicable limit.

• A penalty ranging from ₹10,000 to ₹1 lakh may apply in certain cases.

  
  
  

A TDS return is a statement filed by a person or organisation that has deducted tax from a payment. Regular TDS statements are generally filed every quarter.

A TDS return usually contains:

• The deductor’s details
• The deductee’s PAN
• The payment amount
• The amount of TDS deducted
• Challan and tax-payment details
• The date of deduction and deposit

For example, an employer deducting tax from an employee’s salary must report the salary and TDS details through the applicable salary TDS statement.

Forms were renumbered after the Income-tax Act, 2025 became effective on 1 April 2026. The relevant form must be selected under the applicable Act on the e-Filing portal.

Form 141 combines the earlier challan-cum-statements used for property purchases, specified rent, certain contractual or professional payments and specified virtual digital asset transactions.

Form 24Q was the quarterly salary TDS statement under the Income-tax Act, 1961. Under the Income-tax Act, 2025, its equivalent is Form 138.

Form 138 is used by employers and specified banks to report TDS deducted from salary, pension or specified interest income.

The salary statement includes details such as:

• Salary paid
• Tax deducted
• Tax deposited
• Employee or recipient details
• Relevant challan information

Correct filing helps employees receive the relevant TDS certificate and claim their tax credit.

Form 26Q was used for TDS on non-salary payments made to residents. Its equivalent under the Income-tax Act, 2025 is Form 140.

Form 140 may cover payments such as:

• Commission or brokerage
• Professional fees
• Contractor payments
• Interest
• Rent
• Other specified payments to residents

It is a quarterly statement containing payment, deductee, TDS and challan details.

For example, when a business deducts TDS while paying professional fees to a resident consultant, it reports the deduction through the applicable non-salary TDS statement.

Form 27Q was used under the Income-tax Act, 1961 to report TDS on specified payments made to non-residents and foreign companies.

Such payments may include:

• Interest
• Royalties
• Fees for technical services
• Other taxable payments to non-residents

The statement is generally filed quarterly. The standard due dates were 31 July, 31 October, 31 January and 31 May for the respective quarters.

When filing after 1 April 2026, deductors should select the applicable non-resident TDS statement under the correct Act tab on the e-Filing portal.

Form 26QB was a challan-cum-statement used to report TDS on certain purchases of immovable property. Under the Income-tax Act, 2025, these transactions are covered under Form 141.
The requirement generally applies when the property’s sale consideration or stamp duty value reaches the applicable threshold of ₹50 lakh.
The buyer generally deducts TDS at 1% and files the statement within 30 days from the end of the month in which the tax was deducted.
For example, when a property transaction crosses the applicable ₹50 lakh threshold, the buyer must deduct and deposit TDS according to the tax rules.
 

Form 26QC was used to report TDS on specified rent payments under Section 194-IB. Under the Income-tax Act, 2025, these transactions are covered under Form 141.
This requirement generally applies to specified individuals and Hindu Undivided Families paying rent of more than ₹50,000 per month to a resident landlord.
The applicable TDS rate is 2%. The statement must generally be filed within 30 days from the end of the month in which the tax was deducted.
The tenant earlier issued Form 16C to the landlord as proof of the TDS deducted and deposited.
 

Form 27EQ was a quarterly statement used to report Tax Collected at Source, or TCS, under the Income-tax Act, 1961.
It included details such as the collector’s TAN, the collectee’s PAN, the transaction amount, the TCS collected and the related challan information.
For filings under the Income-tax Act, 2025, the collector must choose the applicable TCS statement under the correct Act section on the Income Tax e-Filing portal.
The selected form should match the period in which the tax was collected and the law applicable to that transaction.
 

The following were the standard quarterly due dates for regular TDS statements under the Income-tax Act, 1961:

For the earlier Form 27EQ TCS statement, the standard quarterly due dates were generally 15 July, 15 October, 15 January and 15 May.

Form 141 is generally filed within 30 days from the end of the month in which the tax was deducted for covered challan-cum-statement transactions.

Taxpayers should check the current e-Filing portal and any CBDT notification because a due date may be extended for a particular period.

TDS forms and utilities are available through the official Income Tax e-Filing portal.

Follow these steps:

1. Visit the Income Tax e-Filing portal.
2. Open the Downloads or Income Tax Forms section.
3. Select the applicable Act.
4. Choose the required TDS or TCS form.
5. Download the latest utility or schema, where required.

6. Prepare and validate the statement before filing.

   
   

Always select the correct tab because the portal separately lists forms under the Income-tax Act, 2025 and the Income-tax Act, 1961.

TDS statements can generally be filed online or submitted through an authorised TIN Facilitation Centre where that option applies.

For online filing:

• Prepare the TDS statement using the applicable utility or compatible software.
• Enter the deductor, deductee, payment and challan details.
• Validate the file using the File Validation Utility, where required.
• Correct any validation errors.
• Log in to the Income Tax e-Filing portal.
• Upload the validated statement.
• Save the acknowledgement.

Online uploading requires registration on the Income Tax e-Filing portal. A validated file may also be submitted through an authorised TIN Facilitation Centre where permitted.

Filing a TDS return late may result in fees, interest, penalties and delays in the deductee receiving tax credit.

• A late filing fee of ₹200 per day may apply under Section 234E.
• The total late filing fee cannot exceed the amount of TDS or TCS covered by the return.
• A penalty ranging from ₹10,000 to ₹1 lakh may apply under Section 271H in certain cases.
• Interest is generally charged at 1% per month or part of a month for late deduction of tax.
• Interest is generally charged at 1.5% per month or part of a month for late payment of tax after deduction.
• The deductee may not receive the TDS credit on time if the return is delayed or contains errors.

Section 234E applies a fee of ₹200 for each day of delay, subject to the prescribed limit. A separate penalty under Section 271H may also apply, depending on the circumstances.

Timely filing helps you:

• Avoid the ₹200-per-day late fee
• Reduce the risk of additional penalties
• Update the deductee’s tax credit on time
• Issue TDS certificates without unnecessary delay
• Reduce mismatches and correction statements
• Maintain accurate tax and accounting records

For example, when an employer files the salary TDS statement correctly, the employee can compare the TDS certificate with the credit shown in their tax records.

A TDS certificate proves that tax was deducted and reported by the payer.

The deductee should compare the certificate with the TDS credit shown in the tax records. Any mismatch should be reported to the deductor for correction.

TDS returns report tax deducted from salary, rent, interest, property transactions and other specified payments. The applicable form depends on the transaction, recipient and governing Act.
From 1 April 2026, the Income-tax Act, 2025 renumbered and restructured several forms. Form 138 replaces Form 24Q, Form 140 replaces Form 26Q, and Form 141 combines Forms 26QB, 26QC, 26QD and 26QE.
Deductors should select the appropriate Act and form on the official e-Filing portal. Timely and accurate filing helps avoid fees and allows deductees to receive the correct tax credit.