TDS Return Filing in 2026: New Forms 138, 140, 144 and 143 (old 24Q, 26Q, 27Q, 27EQ), Due Dates, Late Fee and Process

A TDS return is the quarterly statement in which every deductor reports each deduction, the deductee's PAN and the challan used to pay the tax. From tax year 2026-27 it is filed on Form 138 for salary (earlier 24Q), Form 140 for other payments to residents (earlier 26Q), Form 144 for non-residents (earlier 27Q) and Form 143 for TCS (earlier 27EQ), due 31 July, 31 October, 31 January and 31 May; filing late costs ₹200 a day under section 427 of the Income-tax Act, 2025 (old 234E).

TDS (Tax Deducted at Source) returns are filed quarterly by all deductors. In this guide, we cover the types of TDS returns, due dates, process, and penalty for late filing, as the position stands in October 2026. The live deadline is the Q2 statement (July to September 2026), due 31 October 2026. Quarters up to January to March 2026 belong to FY 2025-26 and the 1961 Act, so they and their corrections stay on the old 24Q, 26Q, 27Q and 27EQ series.

Types of TDS Returns (new forms from tax year 2026-27)

Old forms or new forms: which one to use

Form 144 (old 27Q) and Form 143 (old 27EQ) in brief

Form 144, earlier 27Q, is the quarterly statement of tax deducted from payments other than salary to non-residents: interest, royalty, fees for technical services, rent or sale consideration paid to an NRI, and similar remittances. Salary paid to a non-resident employee still goes in Form 138. Each entry needs the deductee's PAN (or the prescribed alternative details), country of residence, the rate applied and, where a treaty rate is used, the basis for it. If you are on the receiving side of such payments, our NRI ITR filing service helps claim the credit.

Form 143, earlier 27EQ, is the quarterly statement of tax collected at source by sellers and other collectors, filed under Rule 219 of the Income-tax Rules, 2026 (old Rule 31AA). The certificate to the collectee is Form 133 (earlier 27D), due within 15 days of the statement due date. One change to note: under the old rules the 27EQ was due on the 15th of the month after the quarter (15 May for Q4), while Form 143 follows the same dates as the TDS forms, 31 July, 31 October, 31 January and 31 May. The last old-series 27EQ, for January to March 2026, was due 15 May 2026.

Due Dates

Employees receive Form 130 (earlier Form 16) for the whole tax year by 15 June 2027.

TDS Return Filing Process, Step by Step

Step 1: Deduct TDS

Deduct TDS at the applicable rate at the time of payment / credit, whichever is earlier. Maintain a TDS register with the deductee PAN, amount paid, TDS deducted, rate and the section code under the Income-tax Act, 2025. Not sure of the rate? Check it with our TDS calculator.

Step 2: Deposit TDS

Pay the tax to the government by the due date and keep the BSR code, challan serial number, date and amount for every payment. Each challan must later be matched to the right deductees and section code in the statement.

Step 3: Prepare the statement

Pick the form for the payment type (Form 138, 140, 144 or 143), enter deductee-wise details and link each entry to its challan. For Form 138, Annexure I is needed every quarter and Annexures II and III only in Q4. Pay any interest and late fee before filing.

Step 4: File on TRACES

All TDS and TCS statements are furnished electronically in the prescribed format on the TRACES portal. A successful submission generates an Acknowledgement Receipt Number (ARN); keep it, because the next quarter and any correction refer to it.

Step 5: Issue TDS Certificates

Issue Form 131 (earlier 16A) within 15 days of each quarterly due date and Form 130 (earlier 16) to employees by 15 June after the tax year. Deductees need these for their own returns.

Step 6: Watch the processing result

CPC-TDS processes the statement and raises a default if a challan does not match, a PAN is invalid, or tax was deducted short or paid late. Check the result after processing, pay any demand, and file a correction statement for data errors. Leaving a default open blocks clean certificates and turns into a notice later.

Ten-point check before you submit

Documents Required

• TDS challan details (BSR code, serial number, amount)
• Deductee master (PAN, name, address, contact)
• Payment details (invoice, voucher, date)
• TDS rate + section + exemption (if any)
• PAN of the deductee
• Lower or nil deduction certificate held by the deductee (applied for on Form 128 under section 395, old 197), if any — see lower deduction certificate
• Salary details (for Form 138)
• TAN of the deductor — no TAN yet? Get it first through TAN registration
• ARN of the previous quarter's statement

Late Fee, Penalty and Interest

Cost

Our fees exclude GST. Running salaries every month? Payroll management covers salary TDS and Form 138 together.

Common Mistakes to Avoid

• Wrong PAN in deductee master
• Mismatch between challan and return
• Missing lower TDS certificate (filed at lower rate but no certificate)
• Wrong section code
• Wrong TDS rate (using old rate)
• Using the old 24Q / 26Q series for tax year 2026-27 quarters, or the new forms for FY 2025-26 quarters
• Quoting 1961 Act section codes (such as 194C or 194J) for payments made from 1 April 2026
• Paying the late fee or interest after filing instead of before, which turns into a demand after processing
• Not issuing Form 130 / 131 to deductees on time
• Wrong TAN (deductor's TAN)

Frequently Asked Questions