New TDS forms from 1 April 2026
Under the Income-tax Act, 2025, the TDS returns have new numbers. Deductions made on or before 31 March 2026 stay on the old forms.
| What it covers | Old form | New form |
|---|---|---|
| TDS on salary | 24Q | Form 138 |
| TDS on other payments to residents | 26Q | Form 140 |
| TDS on payments to non-residents | 27Q | Form 144 |
| TCS | 27EQ | Form 143 |
| TDS on property purchase | 26QB | Form 141 |
| TDS certificates | Form 16 / 16A | Form 130 / 131 |
Due dates for FY 2026-27
| Quarter | Return due |
|---|---|
| April–June 2026 | 31 July 2026 |
| July–September 2026 | 31 October 2026 |
| October–December 2026 | 31 January 2027 |
| January–March 2027 | 31 May 2027 |
TDS deducted in a month must be deposited by the 7th of the next month; for March, by 30 April.
What we do
- Map each vendor and payment to the right TDS section and rate, including lower-deduction certificates and no-deduction declarations.
- Check challans against deductions before filing, so the return doesn't go into default.
- File quarterly returns for salary, vendors, non-residents and TCS.
- Issue Form 130 and 131 certificates from TRACES on time.
- Clear TRACES defaults: short deduction, late payment, PAN errors, and correction statements for earlier quarters.
- File Form 141 for property buyers. Read our note on TDS when buying property in Noida.
What delay costs
- ₹200 a day late fee until the return is filed, up to the TDS amount for the quarter.
- Interest at 1% a month if TDS wasn't deducted, and 1.5% a month if it was deducted but not deposited.
- Penalty of ₹10,000 to ₹1 lakh for not filing or filing wrong details.
- Expenses on which TDS wasn't deducted or paid can be partly disallowed in your income tax return.
- Your vendors and employees don't get credit for the tax, and they will come back to you for it.
Guides on TDS
Short notes from our team on the rules, deadlines and the mistakes we see most often.
TDS return for Q2 FY 2026-27: the new forms and the 31 October due date
Form 24Q is now Form 138 and 26Q is Form 140. The Q2 due date, what late filing costs, and five checks before you file.
Read note →Buying a flat in Noida? The 1% TDS, the stamp duty, and the mistakes that cost buyers later
Property buyers in Noida must deduct 1% TDS and file Form 141. Stamp duty rates, a worked example, and the four mistakes we see most.
Read note →Income-tax Act, 2025: what changes for your business from 1 April 2026
Tax year replaces assessment year, sections 392–394 for TDS and TCS, Form 26 for tax audit, and what to update in your systems.
Read note →Frequently asked questions
We received a TRACES default notice. What does it mean?
Usually short deduction, late payment, a PAN mismatch or a challan not matching. We download the justification report, find the cause and file a correction statement, and pay the balance where it is genuinely due.
Our TDS returns for earlier quarters were filed wrongly. Can they be corrected?
Yes, through correction statements on TRACES. We fix PANs, amounts and challan details so the deductees get their credit.
Do we need a TAN to deduct TDS on a property purchase?
No. A buyer deducting TDS on property uses their own PAN and files Form 141. A TAN is needed for regular business TDS.
Can you handle TDS for a small business with only a few vendors?
Yes. Many of our TDS clients have only rent, professional fees and contractor payments. The fee is fixed per quarter.
This page is general information, current as of October 2026, and not advice for your specific situation. Laws, forms and due dates change — speak to us before acting on it.