Form 140 Income Tax Rules 2026 pdf download and Key points
Form 140 Income Tax Rules 2026 pdf download and Key points
FORM NO. 140
[See rule 219(1)[Table: Sl. No. 3]]
Quarterly statement of deduction of tax under section 397(3)(b) in respect of payments made other than
salary for the quarter ended…………………………(June/September/December/March) ………………. (Tax
Year)]
Under the new Income-tax Rules, 2026, Form No. 140 has been introduced as the primary reporting form for non-salary tax deductions.
Here are all the key points regarding Form No. 140 based on the provided sources:
1. Purpose of the Form Form 140 is the new Non-Salary TDS Return. It is a quarterly TDS statement filed by deductors to report the tax deducted at source on payments other than salary under the Income-tax Act, 2025.
2. Old Equivalent (Replacement) Form 140 officially replaces the old Form 26Q, which was governed by the earlier Income-tax Act, 1961.
3. Applicability and Transition Year Details
- Effective Date: The requirement to file Form 140 begins with the new Act from Quarter 1 of Tax Year 2026-27 (i.e., April – June 2026).
- Transition Phase: For the preceding quarter (Q4 of FY 2025-26, covering Jan-Mar 2026), deductors will still file the old Form 26Q under the 1961 Act. Form 140 strictly applies to periods starting from April 2026 onwards.
4. Frequency and Due Dates
- Form 140 must be filed on a quarterly basis.
- For the first quarter (Q1: April – June 2026), the specified due date for filing the TDS return in Form 140 is 31st July 2026.
5. Issuance of Corresponding TDS Certificates (Form 131) Filing Form 140 is a mandatory prerequisite for generating TDS certificates for deductees.
- Once Form 140 is successfully furnished, the deductor must issue the TDS certificate in Form No. 131 (which replaces the old Form 16A).
- This certificate must be issued to the deductee within 15 days from the due date of furnishing Form 140.
- Correspondingly, the due dates for issuing the certificates generated from Form 140 are 15th August (for Q1), 15th November (for Q2), 15th February (for Q3), and 15th June (for Q4).
6. Relevance for Government Deductors For Government Accounts Offices that deposit TDS through book adjustments rather than standard challans, the specific DDO-wise (Drawing and Disbursing Officer) details of transfer vouchers related to Form 140 must be reported in their monthly TDS/TCS Book Adjustment Statement, which is Form No. 137.