TDS Return Forms 138, 140 and 144: Q2 Due Date 31 October 2026

The TDS return for the July–September 2026 quarter (Q2 of tax year 2026-27) is due on 31 October 2026, and it is filed in the new forms prescribed by the Income-tax Rules, 2026: Form 138 for salary (earlier Form 24Q), Form 140 for non-salary payments to residents (earlier 26Q) and Form 144 for payments to non-residents (earlier 27Q). The TCS statement is now Form 143 (earlier 27EQ), also due on 31 October 2026.

This is only the second quarter filed under the Income-tax Act, 2025, so many deductors are still matching the old form numbers to the new ones. This article sets out the mapping, the due dates and the consequences of delay.

Which new form replaces 24Q, 26Q, 27Q and 27EQ?

All quarterly TDS and TCS statements are now filed under Section 397(3)(b) of the Income-tax Act, 2025 and Rule 219 of the Income-tax Rules, 2026 (earlier Section 200(3) of the 1961 Act and Rules 31A/31AA of the 1962 Rules).

New form	Earlier form	What it reports
Form 138	24Q	TDS on salary; also pension and interest of specified senior citizens deducted by specified banks
Form 140	26Q	TDS on payments other than salary to residents
Form 144	27Q	TDS on payments other than salary to non-residents
Form 143	27EQ	TCS collected on specified goods and transactions
Form 141	26QB, 26QC, 26QD, 26QE	Challan-cum-statement for TDS on purchase of immovable property, rent, payments to resident contractors or professionals, and transfer of virtual digital assets (separate schedules)

Periods up to 31 March 2026 (FY 2025-26 and earlier) remain governed by the Income-tax Act, 1961 and are reported in the earlier forms.

What are the due dates for TDS and TCS returns in tax year 2026-27?

The Income Tax Department's FAQs on Forms 138, 140, 143 and 144 give the same quarterly due dates for each of them:

Quarter	Period	Due date for statement	Form 131 certificate due
Q1	April–June 2026	31 July 2026	15 August 2026
Q2	July–September 2026	31 October 2026	15 November 2026
Q3	October–December 2026	31 January 2027	15 February 2027
Q4	January–March 2027	31 May 2027	15 June 2027

Form 141 works differently. It is a challan-cum-statement, and it is due within 30 days from the end of the month in which tax is deducted. It applies to transactions from tax year 2026-27 onwards.

Who has to file Form 138, Form 140 and Form 144?

• Form 138 – every employer (company, firm, government, individual and others) that deducts tax from salaries, and specified banks that deduct tax on pension and interest paid to specified senior citizens.
• Form 140 – every person responsible for making non-salary payments to a resident on which tax is deductible, for example contract payments, professional fees, rent, commission and interest.
• Form 144 – every person making payments, other than salary, to a non-resident on which tax is deductible.
• Form 143 – every collector (seller, operator or authorised person) responsible for collecting tax at source.

All these statements are filed electronically in the prescribed data format. An Acknowledgement Receipt Number (ARN) is generated on successful submission.

What has changed in Form 138 compared with Form 24Q?

The salary statement keeps its quarterly structure. Annexure-I is filed every quarter, while Annexures II and III are required only in the last quarter (January–March). This means the Q2 statement due on 31 October 2026 needs Annexure-I, while the full-year salary details are reported with the Q4 statement.

The annual salary certificate is now Form 130 (earlier Form 16), issued by 15 June following the tax year. The quarterly certificate for non-salary TDS is Form 131 (earlier Form 16A). It is downloaded from TRACES and given to the deductee after signing it digitally or manually.

For an overview of how the TDS provisions are arranged under the new law, see TDS under the Income-tax Act, 2025.

What happens if the TDS return is filed late?

Consequence	Provision (Income-tax Act, 2025)
Late filing fee of ₹200 per day of delay, capped at the tax deductible or collectible; payable before filing the statement	Section 427
Penalty proceedings for failure to furnish, or for furnishing incorrect statements	Sections 461 and 465(2)(g)

A late statement also delays the tax credit reaching the deductee, which matters to employees and vendors when they file their own returns.

Can a filed TDS return be corrected?

Yes. A correction statement can be filed once the original statement has been processed. As per the Department's FAQs, a correction must be filed within two years from the end of the tax year in which the original statement was required to be delivered.

How to prepare for the 31 October 2026 filing

1. Reconcile challans – match every challan paid for July, August and September 2026 with the deduction entries.
2. Check PANs of all deductees against the deduction entries before preparing the statement.
3. Use the correct new form for each type of payment and the section references of the 2025 Act.
4. Separate non-resident payments into Form 144 and keep the supporting documents for any treaty rate applied.
5. Download and issue Form 131 to deductees by 15 November 2026.

The work involved in deductions, statements and corrections is outlined on the TDS compliance page.

The information in this article reflects the law as on the date of publication and is for general guidance only.

Sources: https://www.incometaxindia.gov.in/w/faqs-on-forms-as-per-income-tax-rules-2026-1 · https://www.incometaxindia.gov.in/documents/d/guest/form-138-faqs · https://www.incometaxindia.gov.in/documents/d/guest/form-140-faqs · https://www.incometaxindia.gov.in/documents/d/guest/form-144-faqs · https://www.incometaxindia.gov.in/documents/d/guest/form-143-faqs · https://www.incometaxindia.gov.in/documents/d/guest/form-131-faqs · https://www.incometaxindia.gov.in/documents/d/guest/form-141-faqs · https://www.incometaxindia.gov.in/w/section-427-6

Frequently asked questions