New TDS Forms 138 & 140 Replace 24Q & 26Q from FY 2026-27 | Complete Guide
Important Update for Employers, Deductors & Tax Professionals
The Income Tax Department has introduced new TDS Forms 138 and 140 under the Income-tax Act, 2025 and Income-tax Rules, 2026. These forms are designed to replace the earlier Form 24Q and Form 26Q from FY 2026-27.
The objective behind the new forms is to bring simpler language, standardized pre-filled formats and a more technology-driven compliance process. This change is expected to make TDS reporting more structured and user-friendly for deductors.
Important Note
FY 2025-26 (AY 2026-27) continues with the old Forms 24Q / 26Q. The new Forms 138 and 140 are applicable from 1 April 2026, i.e. for FY 2026-27 onward.
What is Form 138?
Form 138 is the new quarterly TDS statement to be filed by employers for:
- Salary payments to employees
- Specified senior citizen income, where applicable
What is Form 140?
Form 140 is the new quarterly TDS statement for resident non-salary payments, such as:
- Interest
- Commission
- Brokerage
- Professional fees
- Rent
- Other specified resident payments
Old vs New TDS Forms
| Earlier Form | New Form | Used For |
|---|---|---|
| Form 24Q | Form 138 | Salary TDS / specified senior citizen income |
| Form 26Q | Form 140 | Resident non-salary TDS payments |
Structure of New Forms
Both the new forms are broadly structured into:
- Part A – Details of deductor and person responsible for deduction
- Part B – Details of tax deducted and tax deposited
- Annexures – Deductee-wise and supporting reporting details
Annexure Structure
Form 138: 3 Annexures
Form 140: 1 Annexure
Form 138 includes additional year-end salary / senior citizen related reporting in the last quarter.
Documents Generally Required
- Challan details / challan copies
- PAN details of deductees
- Payment and deduction details
- Salary / non-salary transaction breakup
Quarterly Due Dates
| Quarter | Period | Due Date |
|---|---|---|
| Q1 | April to June | 31 July |
| Q2 | July to September | 31 October |
| Q3 | October to December | 31 January |
| Q4 | January to March | 31 May |
Key Benefits of New Forms
- Simpler and clearer reporting language
- Better standardized filing structure
- Pre-filled and technology-friendly format
- Reduced chances of reporting errors
- Better ease of compliance for deductors
Practical Takeaway
If you are filing TDS returns for salary, you must understand the new Form 138. If you are filing TDS returns for resident non-salary payments, you need to switch to Form 140 from FY 2026-27 onward.
Need Help in TDS Return Filing?
Contact BDPS Associates for:
✔ TDS Return Filing
✔ Form 24Q / 26Q / New Form 138 / 140 Guidance
✔ TDS Corrections & Revised Returns
✔ TDS Compliance Support for Employers & Businesses
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