From 1 April 2026, the Income Tax Department has introduced Form 141, a new consolidated Challan-cum-Statement for certain TDS payments under Section 393(1) of the Income Tax Act, 2025. Instead of using separate forms such as Form 26QB, 26QC, 26QD and 26QE, specified transactions are now reported through a single Form 141.

Which TDS Payments Are Covered?

Form 141 brings together TDS reporting for specified transactions such as purchase of immovable property, certain rent payments by individuals/HUFs, payments for certain contractual/professional services, and specified payments relating to virtual digital assets. The applicable schedule within Form 141 is selected according to the nature of the transaction.

How Does It Matter to Taxpayers?

This change is particularly important for taxpayers who were familiar with the earlier forms like 26QB for property transactions or 26QC for rent. For transactions governed by the new Income Tax Act, 2025, taxpayers should identify the correct Form 141 schedule instead of automatically following the old form-based process.

Businesses and individuals should also remember that TDS provisions now operate under the new section structure of the Income Tax Act, 2025 for payments or credits on or after 1 April 2026. While the Department states that the TDS rates and monetary thresholds have generally not changed, the section references and reporting framework have changed.

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