| New form | Replaces | Covers | Who / basis |
|---|---|---|---|
| Form 138 | Form 24Q | TDS on salary | Sec 392 deductions — employers and specified banks |
| Form 140 | Form 26Q | TDS on non-salary payments to residents | Sec 393 deductions — contractor, professional, rent, commission, interest; governed by Sec 397(3)(b) + Rule 219 of the IT Rules 2026 |
| Form 144 | Form 27Q | TDS on payments to non-residents | The old 195-family deductions |
| Form 143 | Form 27EQ | TCS statement | Sec 394 collections |
Late filing: ₹200 per day, capped at the TDS amount in the return. Old periods stay on the old forms — FY 2025-26 corrections still travel through 24Q/26Q. Verified 18 July 2026 against the Form 138 user manual on incometax.gov.in.
The substantive risk is mapping, not filing: every old section your TDS software carried (194C, 194J, 194-I…) must land on the right Sec 393 payment code. The rate finder carries the current rates and thresholds; the mapper carries the section concordance.
CORAA reconciles books-side TDS against 26AS and the return data party-wise — see TDS reconciliation or start free: your first audit is on us.
The quarterly TDS statement for salary deductions under the Income Tax Act 2025 — the replacement for Form 24Q, effective for financial years from 1 April 2026. Employers deducting under Sec 392 file it quarterly with the same annexure logic 24Q carried: deductee-wise deduction detail plus the Q4 salary detail.
The quarterly statement of TDS on non-salary payments to residents — the Form 26Q replacement, governed by Sec 397(3)(b) of the 2025 Act read with Rule 219 of the Income Tax Rules 2026. Every Sec 393 deduction (contractor, professional fees, rent, commission, interest, brokerage) reports here with its payment code.
31 July (Q1), 31 October (Q2), 31 January (Q3) and 31 May (Q4) — the same quarterly rhythm as before. The first filing on the new forms is Q1 FY 2026-27, due 31 July 2026.
₹200 per day of delay, capped at the TDS amount reported in the return — the old Sec 234E discipline carried into the new regime. Interest on late deduction/deposit continues separately at the familiar monthly rates.
Yes — corrections and filings for FY 2025-26 and earlier stay on 24Q/26Q/27Q/27EQ under the 1961 Act. The new numbers apply to deductions for periods beginning 1 April 2026. Firms will file in both systems during the overlap.
Four things: that Q1 FY 2026-27 onwards was filed on the new forms with Sec 393 payment codes correctly mapped from the old section-wise configuration; that challans reference the new regime consistently; that Form 26AS/AIS credits flowed for deductees after the switch; and that the Form 3CD clause 34 tables for FY 2026-27 audits reconcile to Forms 138/140 rather than 24Q/26Q. TDS software mapping errors in the first year are the predictable finding.
