Form 143 Income Tax Rules 2026 pdf download and Key points

CA Satbir Singh — Thu, 16 Apr 2026 12:30:20 +0000

Form 143 Income Tax Rules 2026 pdf download and Key points

FORM NO. 143
[See rule 219(1)[Table: Sl. No. 4]]
Quarterly statement of collection of tax at source under section 397(3)(b) for the quarter
ended………………………….. (June/September/December/March) ……………………….. (Tax Year)

Under the new Income-tax Rules, 2026, Form No. 143 replaces the old Form 27EQ. It is governed by Section 397(3)(b) of the Income-tax Act, 2025, and Rule 219 of the Income-tax Rules, 2026.

Here are all the key points regarding Form No. 143:

1. Purpose of the Form Form 143 is a quarterly statement of Tax Collected at Source (TCS). It is used to report tax collected at source on specified goods and transactions, including the sale of scrap, tendu leaves, liquor, forest produce, parking lots, toll plazas, mining & quarrying, overseas remittances, and foreign tour packages.

2. Applicability (Who Should File)

Who files: Every collector (seller, operator, or authorized person) responsible for collecting tax at source on specified transactions.
Mandatory Nature: It is mandatory for any collector who is required to collect tax from buyers/collectees at the time of debit or receipt of payment to file Form 143 for the relevant quarter(s).

3. Frequency and Due Dates Form 143 must be filed quarterly. The specific deadlines are:

Quarter 1 (Apr – Jun): 31st July of the Financial Year.
Quarter 2 (Jul – Sep): 31st October of the Financial Year.
Quarter 3 (Oct – Dec): 31st January of the Financial Year.
Quarter 4 (Jan – Mar): 31st May of the Financial Year immediately following the Tax Year in which the collection is made.

4. Mode of Filing and Processing

Electronic Filing Only: It is mandatory to furnish Form 143 electronically. The form is prepared using the Return Preparation Utility (RPU) from TIN-NSDL and validated through the File Validation Utility (FVU). The resulting .fvu file is then uploaded online at the e-filing website or physically submitted at a TIN FC centre.
Acknowledgment: Upon successful submission, the collector receives an Acknowledgment Receipt Number (ARN).
Revisions: Once submitted, Form 143 cannot be edited directly. To correct mistakes, the collector must file a correction statement after the original statement is processed by CPC-TDS. This correction must be filed within two years from the end of the tax year in which the statement was required to be delivered.

5. Structure of the Form The statement is divided into specific parts and an annexure:

Part A (Particulars of the Collector): Captures details such as the Type of Collector, Name, Address, PAN, TAN, and contact information, as well as details of the specific person responsible for the collection of tax.
Part B (Deposit Details): Provides details of the tax collected and paid to the Central Government (including Total Tax, Interest, Fee, Mode of Payment, BSR Code, Date of Deposit, and Challan Serial No.).
Annexure (Collectee-wise break up): Submitted for all four quarters, it details the PAN, Name, Status, amount received/debited, tax collected, rate of collection, reason for lower/higher collection, and Certificate Number for each collectee.

6. Mandatory Documents Required To prepare the filing, the collector must have:

Copies of the challans through which the collected tax was paid to the Central Government.
PAN details of all collectees.

7. Outcomes and Post-Filing Responsibilities

For the Collector: The statement is processed by CPC-TDS and may be processed with or without defaults. If processed with defaults (e.g., short payment), the collector must pay the default amount and file a correction statement.
For the Collectee (Issuance of Form 133): Based on the data processed in Form 143, TRACES automatically generates Form No. 133 (the TCS Certificate). The collector is legally obligated to download and issue this certificate to the buyer/collectee within 15 days from the due date of filing Form 143.

8. Key Updates in the 2026 Rules

Smart Form Features: Form 143 has been upgraded to a “smart” form, enabling auto-population from the Collector’s TRACES profile, real-time validations, error handling, drop-downs, and API integrations.
Streamlined Data: Outdated references have been removed, and detailed explanatory notes have been added to assist users.
Importance of Compliance: The rules heavily emphasize that timely filing prevents legal challenges, avoids late filing fees under section 427, prevents penal proceedings under sections 461 and 465(2)(g), and ensures accurate tax credits flow directly to the collectees’ Annual Information Statements without grievances.