Summary : The Income Tax Department has introduced simplified Form Nos. 138 and 140 under the Income-tax Act, 2025, effective April 1, 2026, replacing erstwhile Forms 24Q and 26Q to improve ease of compliance through simpler language, standardized pre-filled formats, and technology-driven processes. Form No. 138 is a quarterly TDS statement filed by employers for salary payments and specified senior citizen income under Sections 392 and 393(1), filed under Rule 219 of the Income-tax Rules, 2026. Form No. 140 is a quarterly TDS statement for payments to Indian residents other than salaries, including interest, commission, brokerage, professional fees and rent. Both forms contain Part A, Part B and annexures, with Form 138 having three annexures and Form 140 one annexure. Required documents may include challans and deductees’ PAN details. Filing deadlines are July 31, October 31, January 31 and May 31 for Q1 to Q4 respectively. Forms for FY 2025-26 (AY 2026-27) continue under the Income-tax Rules, 1962, with Q4 TDS returns filed in Forms 24Q/26Q.
SEO Title : New TDS Forms 138 & 140 Replace Forms 24Q/26Q From FY 2026-27
SEO Description : CBDT introduces Forms 138 and 140 from April 1, 2026, replacing 24Q/26Q with simplified quarterly TDS reporting under the Income-tax Act, 2025.
Income Tax Department
Central Board of Direct Taxes
Form Nos. 138 and 140 (Erstwhile Form Nos. 24Q and 26Q)
BACKGROUND:
The Income Tax Department has introduced simplified tax forms under the Income-tax Act, 2025, effective April 1, 2026, to improve ease of compliance for all stakeholders. The new Forms use simpler language, standardized pre-filled formats, and technology-driven processes to reduce errors and disputes.
As part of the “Taxpayer Information Series”, we have selected frequently used Forms or those Forms that have undergone significant business process re-engineering. This brochure focuses on Form Nos. 138 and 140 (Erstwhile Forms Nos. 24Q and 26Q), quarterly TDS statement for payments of salary and other salary. With 22.5 lakh Form No. 24Q and over 50-55 lakh original Form No. 26Q filed annually over the last five years, simplifying these Forms aim to ease compliance for deductors, ensure accurate TDS reporting, and benefit taxpayers and the department alike.
1. Purpose of Form Nos. 138 and 140:
Form No. 138 is a quarterly statement filed by employers to report Tax Deducted at Source (TDS) from salaries paid to employees under Section 392 and income of specified senior citizen under section 393(1)(Table: S.No. 8(iii)) of the Income Tax Act, 2025, Form No. 138 is filed under Rule 219 of the Income Tax Rules, 2026.
Form No. 140 is a quarterly statement filed by deductors (other than salary deductors) to report Tax Deducted at Source (TDS) on payments made to Indian residents other than salaries — such as interest (other than interest on securities), commission, brokerage, professional fees, rent, and other specified payments under provisions of the Income-tax Act, 2025. Form No. 140 is filed under Rule 219 of the Income-tax Rules, 2026.
2. Who should file:
Every person responsible for making payments to a resident on which TDS is deductible.
3. Structure of Form Nos. 138 and 140 as per Income Tax Rules, 2026:
Form Nos. 138 and 140 are structured into Part A (details of the deductor and the person responsible for deduction), Part B (details of tax deducted and paid to the credit of central government), and Annexures. Part A captures identification, contact, and filing details, while Part B covers tax amounts, challan/book adjustment details, and payment particulars of TDS deposited into Government account.
Annexure:
Form No. 138 has three annexures i.e. Annexure I: Submitted for all four quarters, detailing the deductee-wise break-up of TDS during the quarter. Annexure II: Submitted only in the last quarter (Q4), providing detailed summary of the salary, deductions, and overall tax liability for the financial year. Annexure Ill: Submitted only in the last quarter (Q4), providing details of pension and interest income and net tax payable
Form No. 140 has a single annexure, filed for all four quarters, capturing deductee-level TDS information across multiple sections.
4. What are the documents required to file Form Nos. 138 and 140?
Following documents may be required for filing Form Nos. 138 and 140:
1. Copies of challans paid to the credit of central government.
2. PAN details of the deductees.
5. Key features of the new Forms and the benefits to the stakeholders:
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6. Periodicity of Filing These Forms
| Quarter | Period Covered | Due Date for Filing |
| Q1 | April – June | 31st July of the FY |
| Q2 | July – September | 31st October of the FY |
| Q3 | October – December | 31st January of the FY |
| Q4 | January – March | 31st May of the FY immediately following the tax year in which deduction is required to be made |
ATTENTION:
Forms applicable for FY 2025–26 (AY 2026–27) shall continue to be governed by the Income-tax Rules, 1962; accordingly, the quarterly TDS return for the 4th quarter of FY 2025–26 shall be filed in the erstwhile Form Nos. 24Q/26Q.
Source: https://www.incometaxindia.gov.in/
