INCOME TAX22 Sept 2026
Form 141 for TDS: What taxpayers need to know about the new challan-cum-statement under the Income Tax Act 2025 | Mint
Under the Income Tax Act, 2025, a new Form 141 is now a single challan-cum-statement for certain TDS (tax deducted at source) payments. It replaces Forms 26QB, 26QC, 26QD and 26QE. Only deductors reporting specified transactions with resident deductees need it. You deposit the deducted tax and file Form 141 within 30 days after the month of deduction ends, through the e-Filing portal.
Key Statutory Highlights
- Form 141 replaces the earlier Forms 26QB, 26QC, 26QD and 26QE used under the Income Tax Act, 1961.
- The deductor must deposit the deducted tax with the Central Government and file Form 141 within 30 days from the end of the month of deduction.
- A separate Form 141 is required for each transaction category, but multiple deductees of the same type with the same month of deduction can be reported in one form.
Actionable Advice for Taxpayers / Founders:If a payment you make falls under a specified TDS provision, log into the e-Filing portal using your PAN, go to e-File, then e-Pay Tax, select the Income Tax Act, 2025, and choose Form 141 to deposit and report the TDS. It is advisable to confirm your specific transaction with your tax advisor.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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