Overview
Form No. 141 is a single unified form introduced under the Income Tax Act, 2025 with effective from 1st April 2026 for reporting and depositing TDS on specified transactions by replacing multiple forms with one comprehensive reporting system.
Eligibility
| Who Should File? | Schedule To Be Filed | Nature of Transaction | Applicable Section |
| Individual / HUF paying rent to a resident | Schedule A (earlier Form 26QC) | TDS on payment of rent > ₹50,000 per month | Section 393(1) – Table Sl. No. 2(i) |
| Transferee (buyer of property) | Schedule B (earlier Form 26QB) | TDS on transfer of immovable property (other than agricultural land) exceeding ₹50 lakh | Section 393(1) – Table Sl. No. 3(i) |
| Individual / HUF (not liable for TDS under other provisions) | Schedule C (earlier Form 26QD) | TDS on professional / contract / commission (excluding insurance) / brokerage payments/ professional fees > ₹50 lakh | Section 393(1) – Table Sl. No. 6(ii) |
| Any person paying for transfer of Virtual Digital Assets (VDA) | Schedule D (earlier Form 26QE) | TDS on transfer of Virtual Digital Assets as per prescribed threshold under law | Section 393(1) – Table Sl. No. 8(vi) |
Due Date For Filing Form No. 141
The due date to file Form No. 141 is within 30 days from the end of the month in which tax is deducted.
Structure of Form No. 141
1. Part A
Particulars of the deductor – Name, Address, PAN, Contact Details and Nature of Transaction (i.e. Payment of Rent, Transfer of immovable Property, Payment by way of commission/brokerage or fee for professional services or payment in pursuance of a contract and Transfer of Virtual Digital Asset)
2. Part B
Transaction Details:
- Schedule A: TDS on rent paid by Individual/HUF
- Schedule B: TDS on transfer of immovable property
- Schedule C: TDS on payment made by Individual/HUF to contractor/ professional.
- Schedule D: TDS on payment made by Individual/HUF on transfer of Virtual Digital Assets
3. Summary of Transaction & Details of Tax, Interest & Fee
4. Declaration
Documents Required To File Form No. 141
- PAN details of deductors and deductees
- Address, mobile number, and email ID of both parties
- Transaction-specific details (Details of payment made/credited):
- Rent amount/date (Schedule A)
- Property value/date (Schedule B)
- Nature of service & amount (Schedule C)
- Type of VDA, Date of transfer, Consideration value, Mode of transfer/payment (Schedule D)
Filing Process
- Login to the Income-tax e-Filing Portal using PAN
- Go to ‘e-Pay Tax’
- Select the relevant Schedule of the Form
- Fill Details
- Details of Deductor & Deductee: PAN, Addresses, Contact No., Email ID.
- Transaction details (Rent/Immovable Property/Service/VDA)
- TDS Rate, Date of Deduction, Tax Amount
- Payment & Submission
- Make online TDS payment
- Submit the Form
- Download the challan-cum-statement
Outcome of Form 141 Processing
For Deductor (Buyer/Tenant/Payer)
- Form may be processed with or without errors (defaults)
- In case the statement is processed with defaults (such as short payment, late payment interest, or late filing fee), the deductor is required to pay dues (interest/fees) and file correction.
- Upon successful processing, the deductor can download TDS certificate in Form No. 132 from TRACES and issue it to the deductee(s)
- Certificate must be issued within 15 days from due date of filing the Form No. 141.
For Deductee (Seller/Landlord/Service Provider)
- TDS amount reflects in Form 168 (AIS)
- Can claim credit while filing Income Tax Return
FAQs
Is TAN mandatory for filing Form No. 141?
No. Filing is to be done using PAN of the deductor.
Can multiple schedules be used in a single form?
No. Each Form No. 141 is meant for one transaction type only, and therefore only one schedule may be filled per filing.
Is a separate Form No. 141 required for each transaction of same nature?
No. A single Form No. 141 is sufficient for multiple transactions of same nature having same month of deduction. Transactions with different month of deductions cannot be clubbed in a single form.
How should transactions involving multiple sellers or buyers be reported?
Separate forms are required to be filed for each deductor for its proportionate share, within the relevant schedule. One deductor can report multiple transactions of same nature having same month of deduction. Multiple deductees can be used in the same form, however, in case of more than one deductor, separate forms are required to be filed for each deductor for its proportionate share.
Can the Form No. 141 be revised?
Yes. A correction statement may be filed to rectify errors in any schedule within two years from the end of the tax year in which such statement is required to be delivered.
Is late fees applicable for delayed filing?
Yes. Late fee under section 427 of Income-tax Act, 2025 shall be levied for delay in filing the form.
Is interest applicable for late deduction or payment?
Yes. Interest under section 398(3)(a) shall apply, as per the Income-tax Act, 2025.
Will TDS certificates continue to be issued?
Yes. Based on the schedule used and upon successful processing, the deductor can download relevant TDS certificate in Form No. 132 from TRACES and issue it to the deductee(s).
What proof will deductor have after submission of this form?
The ARN (Acknowledgement Receipt Number) is generated after submission of form and the deductor will also have the facility to download the submitted form.
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