A TDS return is the quarterly statement every deductor files listing each deduction, deductee PAN and challan. 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. Late filing costs ₹200 a day under section 427 (old 234E). From ₹1,799 a quarter.
The quarterly TDS return forms were renumbered from 1 April 2026. The structure is the same as before; the form numbers, section codes and certificate numbers changed.
| New form | Earlier form | Covers | Certificate to deductee |
|---|---|---|---|
| Form 138 | 24Q | TDS on salary | Form 130 (earlier 16), yearly |
| Form 140 | 26Q | TDS on other payments to residents | Form 131 (earlier 16A), quarterly |
| Form 144 | 27Q | TDS on payments to non-residents, other than salary | Form 131 (earlier 16A), quarterly |
| Form 143 | 27EQ | Tax collected at source | Form 133 (earlier 27D) |
| Form 141 | 26QB, 26QC, 26QD, 26QE | Challan-cum-statement, such as TDS on property purchase | Form 132 (earlier 16B to 16E) |
Source: FAQs and guidance notes on forms under the Income-tax Rules, 2026, incometaxindia.gov.in.
| Quarter | Period | Statement due | Form 131 to deductees by |
|---|---|---|---|
| Q1 | April to June 2026 | 31 July 2026 | 15 August 2026 |
| Q2 | July to September 2026 | 31 October 2026 | 15 November 2026 |
| Q3 | October to December 2026 | 31 January 2027 | 15 February 2027 |
| Q4 | January to March 2027 | 31 May 2027 | 15 June 2027 |
Employees receive Form 130 for the whole tax year by 15 June 2027. As of October 2026, the live deadline is the Q2 statement on 31 October 2026.
Source: Form 138 and Form 140 FAQs (due dates) and Form 131 FAQs (certificate dates), incometaxindia.gov.in.
| Default | Provision (old section) | Consequence |
|---|---|---|
| Statement filed late | Section 427 (234E) | ₹200 a day, up to the TDS amount; paid before filing |
| Statement late or incorrect | Section 461 (271H) | Penalty of ₹10,000 to ₹1,00,000 at the Assessing Officer discretion |
| Tax not deducted on time | Section 398 (201(1A)) | Interest at 1% a month or part of a month |
| Tax deducted but paid late | Section 398 (201(1A)) | Interest at 1.5% a month or part of a month |
Worked example: a business deducts ₹18,000 TDS on contractor and professional payments in July to September 2026. Form 140 is due 31 October 2026 but is filed on 15 December 2026, 45 days late. The fee is 45 × ₹200 = ₹9,000, paid before filing. Had the TDS been ₹5,000, the fee would stop at ₹5,000. The section 461 penalty is a separate exposure.
Sources: section 398 and section 234E pages, incometaxindia.gov.in; Form 138 FAQs citing sections 427 and 461. Use our TDS calculator to check the deduction itself.
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Salary register, vendor payments, challan details, deductee PANs and any lower deduction certificates.
We compute TDS, match each challan, check PANs and map payments to the section codes under the Income-tax Act, 2025.
File Form 138 (salary), 140 (resident non-salary), 144 (non-resident) or 143 (TCS), with any late fee paid first.
Form 131 (earlier 16A) generated for each quarter and sent to deductees; Form 130 (earlier 16) to employees each year.
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₹200 a day under section 427 (old 234E), capped at the TDS amount and payable before the statement is filed. Interest under section 398 (old 201(1A)) is separate.
TDS computation, verification, and filing — all handled by CAs.
Form 131 for deductees within 15 days of each quarter due date, and Form 130 for employees by 15 June.
Where a short-deduction default is raised, we review the justification report and correct the statement.
Pay per quarter or save with annual plans.
