The Income-tax Act, 2025, came into effect on April 1, 2026, replacing the Income-tax Act, 1961. Along with the new legislation, several income-tax forms have been renumbered or reorganised under the Income-tax Rules, 2026.
These changes affect employers, salaried employees, businesses and other taxpayers who handle tax deducted at source (TDS), tax collected at source (TCS) and tax-credit records. Understanding the revised form numbers can help taxpayers identify the correct documents for reporting income, declaring deductions and checking tax credits.
1. New TDS and TCS Forms Under the Income-tax Act, 2025
Several forms used for quarterly TDS and TCS reporting have new numbers under the revised framework. The reporting schedule remains organised around the four financial-year quarters, with the relevant quarterly statements generally due by July 31, October 31, January 31 and May 31 for the April–June, July–September, October–December and January–March quarters, respectively.
The main revised forms include:
- Form 138 (old Form 24Q): Used by employers and other specified deductors to report TDS on salary payments and covered pension or interest income cases involving eligible senior citizens.
- Form 140 (old Form 26Q): Covers quarterly TDS reporting for specified payments other than salary made to residents. These may include rent, professional fees, commissions and interest.
- Form 144 (old Form 27Q): Used to report TDS on specified non-salary payments made to non-residents.
- Form 143 (old Form 27EQ): Covers quarterly statements of tax collected at source (TCS).
- Form 131 (old Form 16A): Serves as a TDS certificate for payments other than salary. It records the tax deducted and helps recipients claim the corresponding credit when filing their income-tax returns.
Under the details provided, Form 16A must be issued within 15 days of the applicable quarterly TDS statement filing deadline.
2. Form 141: Consolidated Reporting for Specified Transactions
Form 141 replaces Forms 26QB, 26QC, 26QD and 26QE under the earlier framework. It combines the challan and statement requirements for specified transactions that previously involved separate forms.
These transactions include certain property purchases, rent payments, payments to individuals and Hindu Undivided Families (HUFs) by contractors or professionals, and transfers of virtual digital assets.
Unlike quarterly TDS statements, Form 141 is filed for individual transactions covered by the relevant provisions. The stated deadline is 30 days from the end of the month in which the tax is deducted.
Taxpayers and deductors should confirm the applicable category and filing deadline before submitting the form.
3. Important New Income Tax Forms for Salaried Employees
Several revised forms relate to salary reporting, employee declarations and the calculation of TDS. These documents help employers determine the tax that should be deducted from an employee’s salary.
- Form 130 (old Form 16): The TDS certificate for salary income, showing relevant salary details and tax deducted at source. Employees use it when preparing their income-tax returns.
- Form 124 (old Form 12BB): Allows employees to declare eligible claims, such as house rent allowance (HRA), deductions and tax-saving investments, to their employers for TDS calculations.
- Form 123 (old Form 12BA): Provides details of perquisites, benefits and amenities provided by an employer to an employee.
- Form 122 (old Forms 12B and 12BAA): Allows employees to provide details of salary received from previous employers during the same tax year, house-property losses, other income and relevant TDS or TCS details to their current employer.
Providing accurate information through these forms helps employers calculate the appropriate tax liability and deduct TDS accordingly.
4. Forms for TDS Relief, Senior Citizens and Tax Credits
Other revised forms address situations where taxpayers may qualify for non-deduction of TDS, seek relief from filing an income-tax return or check the tax credits recorded against their PAN.
Form 121 (old Forms 15G and 15H) allows eligible taxpayers to declare that their estimated tax liability is nil and request non-deduction of TDS on qualifying income. For example, an eligible individual earning interest on fixed deposits may submit the declaration to their bank. Under the earlier system, Form 15G was generally used by eligible individuals below 60, while resident senior citizens used Form 15H.
Form 125 (old Form 12BBA) is intended for eligible resident senior citizens aged 75 or above whose income consists only of pension and interest from the bank specified under the applicable provisions. It allows them to seek exemption from filing an income-tax return, subject to the prescribed conditions.
Form 168 (old Form 26AS) provides tax-credit information under the new framework. Taxpayers can use it to review TDS and TCS credits and other tax-related details reflected in the statement. These records should be checked against personal documents before filing a return.
Quick Reference: New and Old Income Tax Form Numbers
| New form | Earlier form number | Main purpose |
|---|---|---|
| Form 138 | Form 24Q | Quarterly TDS statement for salary and specified income cases |
| Form 140 | Form 26Q | Quarterly TDS statement for non-salary payments to residents |
| Form 144 | Form 27Q | Quarterly TDS statement for specified payments to non-residents |
| Form 143 | Form 27EQ | Quarterly TCS statement |
| Form 131 | Form 16A | TDS certificate for non-salary payments |
| Form 141 | Forms 26QB, 26QC, 26QD and 26QE | Challan-cum-statement for specified transactions |
| Form 130 | Form 16 | Salary TDS certificate |
| Form 124 | Form 12BB | Employee declarations for eligible tax claims |
| Form 123 | Form 12BA | Statement of employee perquisites and benefits |
| Form 122 | Forms 12B and 12BAA | Income and tax details for salary TDS calculations |
| Form 121 | Forms 15G and 15H | Declaration for non-deduction of TDS on eligible income |
| Form 125 | Form 12BBA | Return-filing exemption request for eligible senior citizens |
| Form 168 | Form 26AS | Tax-credit statement under the new framework |
Disclaimer: This article is for general informational purposes and is based on the information provided about the Income-tax Act, 2025, and the Income-tax Rules, 2026. Form numbers, filing deadlines, eligibility criteria and reporting requirements should be verified against the latest official notifications and rules. Consult a qualified tax professional for advice relating to your individual circumstances.