Income Tax Form 143: Quarterly TCS Statement u/s 397(3)(b)

Form 143 under the Income-tax Act, 2025 is a mandatory quarterly statement filed by collectors to report tax collected at source (TCS) on specified transactions such as sale of goods, scrap, liquor, tendu leaves, foreign remittances, and tour packages. Replacing the earlier Form 27EQ, it must be filed electronically within prescribed quarterly due dates. The form captures detailed information on collectors, collectees, tax collected, and challan details, ensuring accurate reporting and credit reflection in taxpayers’ records. A single annexure provides collectee-wise breakup of TCS for all quarters. Timely and accurate filing is crucial to ensure proper TCS credit in AIS and avoid penalties or legal consequences. Corrections can be made through revised statements within a specified time limit. The updated form introduces simplification, automation, and pre-filled data features, enhancing compliance efficiency, reducing errors,

Income Tax Department
Ministry of Finance, Government of India

FAQs on Income Tax Form 143 (Earlier Form No. 27EQ): Quarterly statement of collection of tax at source under section 397(3)(b) of the Income tax Act 2025

Quarterly Statement of Collection of Tax at Source under section 397(3)(b) of the Income tax Act 2025

Q1: What is Form No. 143?

Ans: Form No. 143 is a quarterly statement filed by collectors who are responsible to collect tax at source on specified goods and transactions involving sale of scrap, tendu leaves, liquor, forest produce, parking lot, toll plaza, mining & quarrying, overseas remittance, foreign tour packages etc.

Q2: Who is required to file Form No. 143?

Ans: Every collector (seller, operator, or authorized person) responsible for collecting tax at source on specified transactions such as sale of motor vehicles, scrap, liquor, tendu leaves, foreign remittances, etc. is required to file Form No. 143.

Q3: Is filing of Form No. 143 mandatory?

Ans: Any collector, who is required to collect tax from buyers/collectees at the time of debit or receipt of payment, must file Form No. 143 for the relevant quarter(s).

Q4: What is the time limit for filing Form No. 143?

Ans: Form No. 143 is to be filed quarterly:

Q5: Is it mandatory to file Form No. 143 in electronic format?

Ans: Yes. As per the Income-tax Rules, all TDS/TCS statements including Form No. 143 must be furnished electronically in the prescribed format.

Q6: Can Form No. 143 be edited after submission?

Ans: No. Form No. 143 once submitted, cannot be edited. However, in order to correct or update the details in an already submitted Form No. 143, the collector is allowed to file a correction statement once the previously submitted statement has been processed by CPC-TDS.

Q7: What is the time limit for filing the correction statement?

Ans: Within two years from the end of the tax year in which the statement was required to be delivered. For example, the correction statement in respect of Form No. 143 for the Quarter 2 of Tax Year 2026-27 can be filed upto 31.03.2029.

Q8: How will collector know whether the Form No. 143 filed by him has been accepted by the Income-tax Department?

Ans: After filing Form No. 143 on the TRACES portal of Income-tax Department, the collector receives an Acknowledgment Receipt Number (ARN) on successful submission of the Form.

Q9: Why filing of Form No. 143 in a timely and accurate manner is important?

Ans: Filing of Form No. 143 in a timely and accurate manner is important as:

> It will ensure that accurate and complete tax credit is passed onto the collectees. Consequently, it will also eliminate scope for collectee related grievances.

> The collector would be able to avoid legal challenges associated with non- compliance including late filing fee u/s 427 and penal proceedings u/s 461 and 465(2)(g).

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Guidance Note on Income Tax Form 143 (Earlier Form No. 27EQ): Quarterly statement of collection of tax at source under section 397(3)(b) of the Income tax Act 2025

Purpose:

Form No. 143 is a quarterly statement filed by collectors to report Tax Collected at Source (TCS) under various provisions of the Income-tax Act, 2025. It covers collection of tax at source on specified goods and transactions such as scrap, tendu leaves, liquor, forest produce, parking lot, toll plaza, mining & quarrying, overseas remittance, foreign tour packages, sale of goods and others. Form No. 143 is filed under Rule 219 of the Income-tax Rules, 2026.

Who Should File:

Every collector (seller, operator, or authorized person) responsible for collecting tax at source on specified transactions such as sale of motor vehicles, scrap, liquor, tendu leaves, foreign remittances, or e-commerce transactions.

Frequency & Due Dates:

Structure of Form No. 143:

> Part A:

Particulars of the Collector: Type of Collector, Name, Address, PAN, TAN, and contact information of collector.

Particulars of the person Responsible for Collection of Tax: Name, Address, PAN, and contact information.

> Part B: Details of Tax Collected and Paid to Central Govt. (i.e. Total Tax, Interest, Fee, Mode of Payment, BSR Code, Date of Deposit, Challan Serial No. and Minor Head, etc.).

> Annexure: Collectee wise break up of TCS: PAN, Name, Status, Amount received / receivable, Date of amount received/debited, Tax collected, Tax Deposited, Date of Collection, Rate, Reason for Lower Collection / Collection at higher rate, Certificate Number u/s 395(3), etc.

Form No. 143 has a single annexure, filed for all four quarters, capturing collectee- level TCS information.

Documents/details required to file the Form No. 143:

1. Copies of challans paid to the credit of central government.

2. PAN details of all collectees.

Filing Count:

On average, about 6-7 lakh original forms have been filed annually over the last five years.

Process flow of filing Form No. 143:

The process flow includes following steps-

1. Collection of tax from buyers at the time of debit or receipt of payment.

2. Payment of collected tax to the credit of the Central Government within the time limits prescribed under Rule 218 of the Income-tax Rules 2026.

3. Preparation of the quarterly TCS statement (Form No. 143) using RPU (Return Preparation Utility) from TIN-NSDL.

4. Validation of the file using the File Validation Utility (FVU). In case of no errors, the utility will provide a .fvu file as result.

5. The resultant .fvu file is to be uploaded online at e-filing website or physically at TIN FC center.

6. After successful submission of the statement at either e-filing website or physically at TIN FC center, the data is inwarded at CPC-TDS and the statement is processed as per the provisions of the Income-tax Act, 2025.

Outcome of Processed Form No. 143:

For Collector

The resultant of processing of TCS statement can be without default or with defaults. In case of statements processed with default, the collectors are required to file correction statements after making payment of default (if required).

For Collectees

> Based on Form No. 143 data, TRACES generates Form No. 133 (TCS Certificate, earlier Form 27D under Income-tax Act, 1961).

> Collector must issue Form No. 133 to the buyer/collectee within 15 days from the due date of filing Form No. 143.

> Once processed, the collected TCS reflects in the collectee’s Form No. 168 / AIS as “TCS by collector”.

> Collectees can claim this TCS amount as credit against their final tax liability while filing their ITR.

Brief note on broad or qualitative changes proposed:

1. Key updates include the following

• • replacement of outdated fields (e.g., Token No. replaced with Return Receipt Number, and deletion of TAN Registration No.),
  • streamlining of entries (removal of surcharge and cess details now consolidated under challan/Book Adjustment), and
  • redundant references removed to simplify interpretation.
  • explanatory notes have been provided to guide users in completing the form accurately.

2. The revised Form No. 143 will be a smart one to enhance user experience and providing ease of filing through

a. auto-population/pre-filling of relevant details using information available from the Collector’s TRACES profile.

b. real time validations & error handling

c. drop downs & date pickers

d. integration with APIs & Databases

e. Check box based smart verification

f. Standardization of name & address fields etc.

Common Changes made across Forms:

1. To make Forms system-friendly and enable e-filing and uploading, certain anomalies found due to grouping of Name, Designation, Address and PAN have been separated into different boxes.

2. Assessment / Financial / Previous year or years have been replaced with Tax year or years, wherever appearing in the Form/Annexure.

3. Changes in Sections, Clauses and Schedules have been aligned as per the Income-tax Act, 2025.

4. Currency symbol “Rs.” has been replaced with “₹”.