Form 141: the new Income Tax Act 2025 form that merges TDS challan-cum-statements 26QB, 26QC, 26QD and 26QE

If you bought a flat, paid a landlord, settled a contractor's bill or bought crypto as an individual in 2025, you would have met four different forms: 26QB, 26QC, 26QD and 26QE. Under the Income-tax Act, 2025, those four are gone. In their place sits one consolidated challan-cum-statement, Form 141, which the Income Tax Department describes in its Form 141 FAQs as a "restructured and consolidated form" built "to simplify compliance and reporting". This guide walks through what the form covers, who can use each of its 5 schedules, the two 30-day deadlines, and the filing errors that most often leave a seller or landlord without credit in their Form 26AS.

What the Section Says

Form 141 is the challan-cum-statement for paying and reporting tax deducted at source under sections 393(1) and 393(2) of the Income-tax Act, 2025. Section 393 sets out TDS obligations as a table, and Form 141 covers 4 entries in the section 393(1) table, Serial Nos. 2(i), 3(i), 6(ii) and 8(vi), plus Serial No. 17 of the section 393(2) table. The full text of the new Act is published on India Code, the Government of India's official repository of central legislation.

The 5 schedules and the forms they replace

Schedule E is the genuinely new piece. According to FAQ 1 and FAQ 9 of the Department's guidance, from 1 October 2026 a resident individual or HUF who buys property from a non-resident seller can deduct and report the tax through Form 141 itself, instead of the TAN-based route that buyers from NRIs previously had to follow.

Who may file which schedule

The 5 schedules are not open to every deductor. FAQ 3 sets out the eligibility rules:

Two further points from the FAQs shape every filing. First, Form 141 is available only through PAN login on the e-Filing portal (FAQ 10); the path is e-File, then E-Pay Tax, then "Income Tax Act 2025", then New Payment, then Form 141 (FAQ 13). Second, there is no single TDS rate for the form (FAQ 21). The rate is whatever the relevant 2025 Act provision prescribes, a higher rate where section 397(2) applies, or the rate in a lower or nil deduction certificate issued under section 395(1) or 395(2).

The two deadlines

FAQ 11 and FAQ 12 set the timing:

• Payment: the tax deducted must reach the Central Government within 30 days from the end of the month in which it was deducted.
• Statement: Form 141 itself must be furnished within one month from the end of the month of deduction.

Worked Example

Take a resident couple, Arjun and Meera, who jointly buy a flat in Pune from a resident seller for Rs 80,00,000, in equal 50:50 shares. They pay the seller in full on 15 September 2026 and deduct TDS at that point.

Under section 194-IA of the 1961 Act, which Schedule B's Table Sl. No. 3(i) succeeds, the buyer deducted 1% where the consideration was Rs 50 lakh or more. Using that rate for illustration (confirm the current rate in the section 393 table before you pay):

Three rules from the FAQs drive this table:

1. One deductor, one form. FAQ 5 says that where several deductors are party to one transaction, each must deposit TDS on their own share and file a separate Form 141. Arjun and Meera therefore file 2 forms of Rs 40,000 each, not 1 form of Rs 80,000.
2. The deadline runs from month-end. The deduction happened in September 2026, so the 30 days start on 30 September 2026 and end on 30 October 2026.
3. Deductee category matters. The seller here is an individual, so the 4th character of their PAN is "P" and both buyers select "Non-Corporate Deductee" (FAQ 8). Only a PAN whose 4th character is "C", such as the FAQ's example AABCZ1234H, counts as corporate.

Variation: buying from an NRI after 1 October 2026

Suppose instead the seller is a non-resident, and Arjun and Meera pay on 5 November 2026. Because the payment falls after 1 October 2026, they can use Schedule E of Form 141 rather than obtaining a TAN (FAQ 9). The rate is not the 1% resident-seller figure: it is set by section 393(2) and the non-resident seller's position, or by any certificate the seller has obtained under section 395. Each buyer would still file a separate form for their own share, and the deadline would be 30 December 2026, 30 days after the end of November.

You can model the seller's side of the same transaction, including whether the gain is short-term or long-term, in our capital gains calculator, and check deduction arithmetic for other payments in the TDS calculator.

Common Mistakes

Most Form 141 problems surface months later, when the seller, landlord or contractor finds no credit in their Annual Information Statement or Form 26AS and cannot claim it in their return. These are the 6 errors the FAQs explicitly warn against or that follow directly from them.

1. Combining two buyers into one form. FAQ 5 is unambiguous: each deductor files for their own share. In the example above, a single Rs 80,000 form in Arjun's name leaves Meera's Rs 40,00,000 share unreported and gives the seller credit against the wrong deductor.

2. Mixing months of deduction. FAQ 6 and FAQ 15 allow one Form 141 for several deductees only if all were deducted in the same month and fall in the same deductee category. A family paying three contractors, two in August 2026 and one in September 2026, needs 2 forms.

3. Mixing corporate and non-corporate deductees. Under FAQ 6, a single form cannot carry both a company and an individual. If you pay one professional firm registered as a company and one sole practitioner in the same month, you file 2 separate forms.

4. Picking the wrong deductee type. FAQ 8 ties the category to the 4th character of the deductee's PAN. Selecting "Corporate" for a PAN such as ABCPK1234L (4th character "P") can trigger validation errors or misreported tax, and the credit may not reach the seller.

5. Trying to correct the form on the e-Filing portal. FAQ 17 states that corrections to a filed Form 141 are not available on the e-Filing portal. They are made only on the TDS-TRACES portal, where you must first register as a "Taxpayer".

6. Using Schedule E for a resident seller, or before 1 October 2026. FAQ 9 confines Schedule E to a resident individual or HUF buying from a non-resident seller, from 1 October 2026. For resident sellers, Schedule B continues to apply, and for rent, contractor and VDA payments, Schedules A, C and D apply.

After you file: the 4-step checklist

If you are working out how the transaction affects your own tax for the year, run the numbers through our income tax calculator.

FAQ

What is Form 141 under the Income-tax Act, 2025?

Form 141 is the challan-cum-statement for paying and reporting TDS under sections 393(1) and 393(2) of the Income-tax Act, 2025. It covers Table Serial Nos. 2(i), 3(i), 6(ii) and 8(vi) of section 393(1) and Serial No. 17 of section 393(2), according to the Department's Form 141 FAQs.

Which old forms does Form 141 replace?

It merges Form 26QB (TDS on property purchase), Form 26QC (TDS on rent by an individual or HUF), Form 26QD (TDS on payments to contractors and professionals by an individual or HUF) and Form 26QE (TDS on virtual digital asset transfers). From 1 October 2026 it also adds Schedule E for property bought from a non-resident.

Do I need a TAN to file Form 141?

No. FAQ 10 states that Form 141 is filed only through PAN login on the e-Filing portal. For property bought from a non-resident, Schedule E removes the TAN-based route for resident individual and HUF buyers from 1 October 2026.

What is the due date for Form 141?

The tax must be paid within 30 days from the end of the month of deduction (FAQ 11), and the statement must be furnished within one month from the end of that month (FAQ 12). For a deduction made on any day in September 2026, the last date is 30 October 2026.

What TDS rate applies in Form 141?

There is no single rate. FAQ 21 says the rate depends on the relevant provision of the 2025 Act, a higher rate where section 397(2) applies, or the rate in a certificate issued under section 395(1) or 395(2). Residential status, PAN availability and any lower deduction certificate all matter.

Can a company use Form 141?

Only for Schedule B, purchase of immovable property from a resident seller, which FAQ 3 opens to all categories of assessee. Schedules A, C and D are limited to individual and HUF deductors, and Schedule E to resident individual and HUF buyers.

How do I correct a mistake in a filed Form 141?

Corrections are made only on the TDS-TRACES portal, not on the e-Filing portal, after registering there as a "Taxpayer" (FAQ 17). The TDS certificate for the deductee is also downloaded from TDS-TRACES (FAQ 22).

This article explains official guidance published by the Income Tax Department and is general information, not tax advice. TDS rates under the section 393 table should be confirmed on the e-Filing portal or India Code before payment.