Form No. 132, introduced under Section 395(4) of the Income-tax Act, 2025, is a consolidated TDS certificate replacing earlier Forms 16B, 16C, 16D, and 16E. It is issued by deductors for tax deducted and deposited on transactions such as rent, transfer of immovable property, technical services, contracts, and virtual digital assets. The certificate serves as proof of TDS for the deductee, enabling accurate credit claims while filing income tax returns. Issuance of Form 132 is mandatory once tax has been deducted and deposited, and it must be generated through the TRACES portal after filing the corresponding challan-cum-statement (Form 141). The certificate must be issued within 15 days from the due date of filing the statement. Corrections require filing a revised statement before generating an updated certificate. Form 132 is legally valid for assessment, reconciliation, and credit purposes, ensuring transparency and standardized reporting.
Income Tax Department
Ministry of Finance, Government of India
FAQs on Income Tax Form 132: Certificate under section 395(4) for tax deducted at source
Form No. 132 (Earlier Form No. 16B/16C/16D/16E)
Certificate u/s 395(4) of the Income-tax Act, 2025 for tax deducted at source
| Name of form as per I.T. Rules, 1962 | 16B, 16C, 16D, 16E |
Name of form as per I.T. Rules, 2026 | 132 |
| Corresponding section of I.T. Act, 1961 | 203 | Corresponding section of I.T. Act, 2025 | 395(4) 215(1) |
| Corresponding Rule of I.T. Rules, 1962 | 31(3A), 31(3B), 31(3C), 31(3D) | Corresponding Rule of I.T. Rules, 2026 | [Table: Sl.No. 3] |
Q.1 What is Form No. 132?
Ans: Form No. 132 is a TDS certificate issued for tax deducted at source on specific transactions involving payment of rent, transfer of immovable property, technical services, or transfer of Virtual Digital Assets (VDA). Form 132 has been created after merging four forms, viz. Forms 16B,16C,16D & 16E, into one.
Q.2 Who is required to issue Form No. 132?
Ans: Form 132 is to be issued by any person (deductor) who has deducted and deposited TDS in respect of following payments:
a) Payment of rent under section 393(1) [Table Sl. No. 2(i)]
b) Transfer of immovable property under section 393(1) [Table Sl. No. 3(i)]
c) Payment by way of commission/brokerage or fee for technical services or in pursuance of a contract under section 393(1) [Table Sl. No. 6(ii)]
d) Transfer of VDA under section 393(1) [Table Sl. No. 8(vi)].
Q.3 Is it mandatory for the deductor to issue Form No. 132?
Ans: Yes. Deductor is mandatorily required to issue Form No. 132, once tax has been deducted and deposited.
Q.4 What is the purpose of Form No. 132?
Ans: The form is issued to the deductee to serve as proof of tax deducted and deposited with the Central Government, on his behalf, by the deductor. It enables the deductee to claim TDS credit at the time of filing the ITR.
Q.5 Can the Deductor issue Form No. 132 without having filed the challan-cum-statement?
Ans: No. The challan-cum-statement in Form No. 141 must be filed and processed for the certificate to be generated.
Q.6 Can Form No. 132 be issued offline?
Ans: No. The deductor must mandatorily download it from the TRACES website and provide it to the deductee after signing it digitally or manually. A certificate prepared through any other mode will not be a legal or valid TDS certificate.
Q.7 What is the time limit for issuing Form No. 132?
Ans: Form No. 132 must be issued within 15 days from the due date for furnishing the challan-cum-statement in Form No. 141.
Q.8 If there is a mistake in Form No. 132, can corrections be made?
Ans: Yes. If an error is found, the deductor must first file a correction statement in Form No. 141. After successful processing, a revised Form No. 132 can be generated.
Q.9 Will Form No. 132 be accepted for assessment purposes?
Ans: Yes. Form No. 132 is a valid and legally recognized TDS certificate under the Income-tax Act, 2025, and is accepted for assessment, reconciliation, and credit purposes.
Guidance Note on Income Tax Form 132: Certificate under section 395(4) for tax deducted at source
Form No. 130_131_132_133 (Earlier Form No. 16/16A/16B/16C/16D/16E/27D)
TDS/TCS certificates under section 395(4) of the Income-tax Act, 2025 in Form Nos. 130_131_132_133
| Name of form as per I.T. Rules, 1962 | 1. 16
2. 16A 3. 16B, 16C, 16D & 16E 4. 27D |
Name of form as per I.T. Rules, 2026 | 1. 130
2. 131 3. 132 4. 133 |
| Corresponding section of I.T. Act, 1961 | 203 | Corresponding section
of I.T. Act, 2025 |
395(4) |
| Corresponding Rule of I.T. Rules, 1962 | 31 / 37D | Corresponding Rule of I.T. Rules, 2026 | 215 |
Purpose:
As per section 395(4)(a) of the Income-tax Act, 2025, the deductor/collector is required to issue a certificate to the deductee or collectee, as the case may be, specifying
A. Amount of tax deducted/collected
B. Rate at which tax has been deducted/collected
C. Any other particulars, as may be prescribed.
Similarly, any employer [referred to in section 392(2)] who has deducted tax at source in respect of an employee shall issue a TDS certificate to the employee as per section 395(4)(b) of the Act.
Who Should place request to download:
Any deductor/collector/employer who has deducted/collected tax in respect of a deductee /collectee/employee, as the case maybe, is required to place a request to download the TDS/TCS certificate at TRACES website.
Certificate wise details:
| Sl. No | Form Number for Certificate to be issued |
Issued against Form |
Due date of issuance |
Certificate structure | Changes made |
| 1 | Form No. 130
(earlier |
Form No. 138(earlier Form 24Q as per the old Act) |
15th June of the Financial Year immediately following the Tax Year in which the income was paid and tax was deducted | (i) Part A: Certificate details, Details of the Employer/ Specified Bank and Employee /Specified Senior Citizen(ii) Part B: Summary of amount paid/ credited and tax deducted at source thereon in respect of the employee
(iii) Details of tax deducted and deposited in the central government account through challan or by book adjustment (iv) Declaration (v) Part C (Annexure-I)-Details of salary paid and any other income and tax deducted and Declaration (vi) Part C (Annexure-II)– Details of pension and interest payments and tax deducted in relation to specified senior citizen for tax deduction under section 393(1) [Table: Sl. No. 8(iii)] and Declaration |
In alignment with the Income-tax Act, 2025 |
| 2 | Form No. 131
(earlier old Act) |
Form Nos. 140 & 144 (earlier Form 26Q & 27Q as per the old Act) |
Withing 15 days from the due date of furnishing corresponding quarterly TDS statement i.e.,
1. 15th August of the Financial Year (for Q1) 2. 15th November of the Financial Year (for Q2) 3. 15th February of the Financial Year (for Q3) 4. 15th June of the Financial Year immediately following the Tax Year in which deduction is required to be made (for Q4) |
(i) Part A: Certificate details, Details of the Deductor and Deductee
(ii) Part B: Summary of payment and tax deducted at source thereon in respect of the Deductee (iii) Details of tax deducted and deposited in the central government account through challan or by book adjustment (iv) Declaration |
In alignment with the Income-tax Act, 2025 |
| 3 | Form No. 132
(earlier Form 16B, 16C, 16D & 16E as per the old Act) |
Form No. 141(earlier Form 26QB, 26QC, 26QD & 26QE as per the old Act) |
Withing 15 days from the due date of furnishing the corresponding challan-cum- statement | (i) Part A: Certificate details, Particulars of the Deductor & Deductee and Nature of transaction(ii) Part B: Summary of Transaction(s) and Details of tax deposited to the credit of the central government for which credit is to be given to the deductee(iii) Declaration |
(i) Forms 16B, 16C, 16D & 16E have been merged into single form.
(ii) On the basis of the Nature of Transaction, the relevant certificate will be generated. |
| 4 | Form No. 133
(earlier Form 27D |
Form No. 143
(earlier Form 27EQ as per the old Act) |
Withing 15 days from the due date of furnishing corresponding quarterly TCS statement i.e.,
1. 15th August of the Financial Year (for Q1) 2. 15th November of the Financial Year (for Q2) 3. 15th February of the Financial Year (for Q3) 4. 15th June of the Financial Year immediately following the Tax Year in which collection is required to be |
(i) Part A: Certificate details, Details of the Collector and Collectee
(ii) Part B: Summary of receipt and tax collected at source thereon in respect of the Collectee (iii) Details of tax collected and deposited in the central government account through challan or by book adjustment (iv) Declaration |
In alignment with the Income-tax Act, 2025 |
Other Salient Features of Certificate:
1. The certificate is valid only if it is generated from the TRACES portal.
2. Such downloaded certificate carrying the signature [Digital or physical] of the deductor/collector is only valid.
3. The duplicate certificate may be downloaded at any time by the deductor/collector from the TRACES portal.
