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TDS returns, and the change from 24Q and 26Q to new forms
If you deduct tax from salaries, rent, contractors or professionals, you deposit it and report it each quarter. The form numbers have changed. This page helps you understand what is being done for you, and what to check.
Old forms and new forms
The law that applies generally follows when the amount was credited or paid, whichever was earlier, and not when you file. The new forms start with tax year 2026-27, so January to March 2026 stays on the old forms even when filed later.
| Used for | Up to 31 March 2026 | From tax year 2026-27 |
|---|---|---|
| Quarterly TDS on salary | Form 24Q | Form 138 |
| Quarterly TDS on other payments to residents | Form 26Q | Form 140 |
| Quarterly TDS on payments to non-residents | Form 27Q | Form 144 |
| Quarterly TCS | Form 27EQ | Form 143 |
| Salary TDS certificate | Form 16 | Form 130 |
| Non-salary TDS certificate | Form 16A | Form 131 |
| Annual tax statement | Form 26AS | Form 168 (Annual Information Statement) |
Forms 138, 140, 144 and 143 are confirmed in the e-filing portal's form mapping guide. Forms 130, 131 and 168 come from official form titles that we could not open, so confirm them on the portal. The portal's user manuals for Forms 138, 140 and 144 give quarterly due dates of 31 July, 31 October, 31 January and 31 May. Tax deducted is deposited by the 7th of the following month, and March deductions by 30 April for non-government deductors (rule 218 of the Income-tax Rules, 2026, per the department's payment FAQ).
The cycle behind each return
The return is the visible part. Most problems begin earlier.
Identify
Decide whether TDS applies to a payment, at what rate, and under which provision.
Deduct
Deduct at the correct time, using the payee's correct PAN.
Deposit
Pay to the government against the right section and tax year.
Report
File the quarterly return with deduction and challan details.
Certify
Issue certificates to payees.
Correct
Check defaults and file corrections if needed.
Why TDS credit goes missing
When a vendor or employee says "my TDS isn't showing", one of these is the usual reason:
- Wrong or invalid PAN in the return, so credit goes elsewhere or not at all.
- Return not filed or filed late, though tax was deducted.
- Challan details that do not match, including wrong section or year.
- Transition errors: new form numbers used for transactions before April 2026, old section codes on new-year returns, or an assessment year chosen on a challan instead of a tax year.
- Timing. The deductor's filing may simply not have reached the statement yet.
If it is late or wrong
For periods from 1 April 2026, the Income-tax Act, 2025 sets out the main costs:
- Late statement: a fee of ₹200 for every day the quarterly statement is late, capped at the tax deductible or collectible, and payable before the statement is filed (section 427).
- Late deduction: interest at 1% a month, or part of a month, from when tax was deductible to when it was deducted (section 398(3)).
- Late deposit: interest at 1.5% a month, or part of a month, from when tax was deducted to when it was paid (section 398(3)).
Penalties can apply on top of these. Quarters before April 2026 fall under the 1961 Act's equivalent sections, so raise any older pending quarters with Deepak Mittal.
What stays with you
- Give payment details and correct PANs on time.
- Make or approve the deposit. Filing someone's return does not pay the tax.
- Keep control of your TAN login and registered contacts.
- Check that certificates go out, and keep copies.
Questions to ask Deepak Mittal before work starts
- How do you handle quarters that fall under the old Act and the new one?
- Who checks TDS applicability, you or me?
- Will you check the default statements and handle corrections?
- Are certificates included?
- Is correcting past quarters charged separately?
What affects the fee
Number of deductees and challans, salary and non-salary returns, whether corrections are included, and past defaults to clean up. Ask for the fee in writing for a defined scope.
If you deduct TDS from salaries
Salary TDS sits within the wider monthly work of payroll, including attendance, payslips and, where they apply, PF and ESI.
Sources checked, November 2026
- Income-tax Act, 2025, Gazette copy (opens in a new tab), sections 393, 397, 398 and 427 (read at source, November 2026)
- Income Tax Department e-filing portal (official): form mapping guide, 1961 Act to 2025 Act (opens in a new tab); Form 138 (opens in a new tab) and Form 140 (opens in a new tab) user manuals; tax payments FAQ (opens in a new tab) (read 10 November 2026)
Need help with TDS returns?
Tell us how many people or vendors you deduct for, and whether any quarters are pending.
