Quick Summary
The Income Tax Department, under the Central Board of Direct Taxes (CBDT), has officially introduced Form No. 143, the new quarterly statement for Tax Collected at Source (TCS), replacing the erstwhile Form No. 27EQ. The new form takes effect from April 1, 2026, under the provisions of the Income Ta
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FAQ :
The new form for TCS quarterly returns is Form No. 143, replacing the previous Form No. 27EQ.
Form No. 143 will take effect from April 1, 2026.
The new Form No. 143 applies from the financial year 2026-27 onwards, starting with the April-June 2026 quarter.
The new Form 143 offers benefits such as auto-population of details, real-time validations, simplified tax columns, and reduced compliance burden, leading to increased accuracy and efficiency.
Every collector responsible for collecting tax at source on specified transactions, including government and non-government entities, must file Form No. 143.
To file Form No. 143, collectors need transaction details (nature, amount, TCS rate), collectee details (PAN, status, name, address), and challan or BIN details for tax deposits.
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