Income Tax Act 1961 vs 2025: List of new TDS forms and certificates every taxpayer, salaried employee needs to know

The Income-tax Act, 2025, came into effect on 1 April 2026, replacing the Income-tax Act, 1961. Alongside the legislative changes, several income-tax forms have been renumbered or reorganized under the Income-tax Rules, 2026.

Here are the key forms to know and what they cover under the new framework.

Which TDS forms have changed under new Income Tax Act?

The forms for quarterly TDS filing, with statements due by 31 July, 31 October, 31 January and 31 May for the April–June, July–September, October–December and January–March quarters, respectively, have changed.

• Form 138 (old Form 24Q): Employers and banks that pay salary, pension and interest income to eligible senior citizens use this form to submit TDS deductions.
• Form 140 (old Form 26Q): Used to report TDS on payments other than salary to residents, covering applicable payments such as rent, professional fees, commission and interest.
• Form 144 (old Form 27Q): Used to report TDS on specified payments other than salary made to non-residents.
• Form 143 (old Form 27EQ): Used to file quarterly statements of tax collected at source (TCS).
• Form 131 (old Form 16A): A TDS certificate for payments other than salary, showing the tax deducted and helping recipients claim TDS credit while filing their income-tax returns. The tax deductor must issue it within 15 days of the quarterly TDS statement filing deadline.

What is new Form 141 and how is it different from quarterly TDS returns?

Form 141 (old Forms 26QB, 26QC, 26QD and 26QE): This consolidated challan-cum-statement covers specified transactions that previously required separate forms.

These include TDS on certain property purchases, rent payments, payments to individuals and Hindu Undivided Families (HUFs) by contractors or professionals, and transfers of virtual digital assets.

Unlike quarterly TDS statements, Form 141 is filed on a transaction-specific basis. The applicable deadline is 30 days from the end of the month in which tax is deducted.

Disclaimer: This is for informational purposes only. Consult a qualified tax professional for advice specific to your circumstances.