Archive · 19 Jul 2026
New TDS/TCS Forms and Deadlines for Q1 2026-27
Businesses in India need to file their first-quarter TDS and TCS returns for the tax year 2026-27 by July 31, 2026.
The government has introduced new forms and section codes under the Income-tax Act, 2025.
Form 138 replaces Form 24Q for salary TDS, Form 140 replaces Form 26Q for non-salary TDS, and Form 143 replaces Form 27EQ for TCS.
Businesses must update their systems and carefully reconcile challans to avoid errors and ensure accurate filing.
Tax professionals advise preparing early to meet the deadline and avoid compliance issues.
New forms introduced for TDS and TCS returns under the Income-tax Act, 2025.
Form 138 replaces Form 24Q for salary TDS, Form 140 replaces Form 26Q for non-salary TDS, and Form 143 replaces Form 27EQ for TCS.
New section codes for TDS and TCS, such as Section 1602 for salary TDS and Section 1073 for TCS on sale of scrap.
Due date for Q1 returns is July 31, 2026.
Businesses must update their systems and reconcile challans to ensure accurate filing and avoid compliance issues.
- Who
- Businesses and tax deductors
- What
- Filing TDS/TCS returns for Q1 of TY 2026-27
- When
- Due by July 31, 2026
- Where
- India
- Why
- To comply with the new Income-tax Act, 2025
Businesses
Tax Authorities
Compliance Challenges
Businesses
Businesses face challenges in adapting to new forms and section codes, requiring system updates and careful reconciliation.
Tax Authorities
Tax authorities aim to streamline compliance with updated forms and section codes under the Income-tax Act, 2025.
- New Forms
- Form 138 (Salary TDS), Form 140 (Non-Salary TDS), Form 143 (TCS)
- Due Date
- July 31, 2026
- Old Forms
- Form 24Q (Salary TDS), Form 26Q (Non-Salary TDS), Form 27EQ (TCS)
- New Section Codes
- Section 1602 (Salary TDS), Section 1606 (Commission/Brokerage), Section 1073 (TCS on Sale of Scrap)
- Compliance Checklist
- Verify return form, check section codes, reconcile challans, meet due date
