Forms 134 and 135 introduce a revised system for TAN allotment under the Income-tax Act, 2025. The bifurcation ensures category-specific compliance and simplifies the application process.
The issue concerns issuance of TCS certificates by collectors. The law mandates issuing Form 133 after tax collection. The key takeaway is compulsory compliance for valid tax credit.
Form 132 replaces Forms 16B, 16C, 16D, and 16E to simplify TDS certification under the new law. It ensures standardized reporting and valid proof of tax deduction.
Form 131 must be issued for all non-salary TDS deductions and acts as proof of tax deposited. It enables taxpayers to claim credit while filing returns and ensures compliance with updated law.
