KAR SATHI · VISUAL GUIDE
From April 2026, taxpayers handling certain property, rent, professional-payment or virtual-asset transactions no longer need to search for four.
01 · FROM THE GUIDE
Form 141 Guide: Schedules, TDS Deadlines and Corrections
From April 2026, taxpayers handling certain property, rent, professional-payment or virtual-asset transactions no longer need to search for four different.
02 · FROM THE GUIDE
Particular | Details
Form name | Form 141—Challan-cum-Statement of TDS
03 · FROM THE GUIDE
Form 141 is a consolidated challan-cum-statement for reporting and depositing TDS under specified transactions covered by Sections 393(1) and 393(2) of the Income-tax Act, 2025.
It replaces the following transaction-specific forms for relevant transactions occurring from 1 April 2026:
04 · FROM THE GUIDE
Selecting the correct schedule is important because each schedule covers a different type of transaction.
Schedule | Transaction covered | Who can generally file
05 · FROM THE GUIDE
The person responsible for deducting and depositing TDS is the deductor. The person receiving the payment is the deductee.
06 · FROM THE GUIDE
Property purchase: buyer is the deductor and seller is the deductee.
Rent: tenant or payer is the deductor and landlord is the deductee.
07 · FROM THE GUIDE
TDS must be deposited with Form 141 within 30 days from the end of the month in which the tax was deducted.
08 · FROM THE GUIDE
If TDS is deducted on 18 August 2026, Form 141 and the corresponding payment should generally be completed by 30 September 2026.
Separate forms are required where tax is deducted in different months.
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