Taxpayers no longer need to use multiple forms to report tax deducted at source (TDS) on many transactions. Form 141 brings together the reporting requirements earlier covered by different income tax filing forms.
The Income Tax Department has posted on X (formerly Twitter), “One unified Form 141 replaces multiple TDS forms (Forms 26QB, 26QC, 26QD and 26QE). Covers immovable property transfers involving resident and non-resident sellers, rent payments by individuals/HUFs, payments to contractors or professionals by individuals/HUFs and virtual digital asset transfers by individuals/HUFs. Easier TDS reporting and payment. Streamlined and user-friendly filing experience.”
What is Form 141?
As per the Income Tax Department’s website, Form 141 has been introduced as a restructured and consolidated form under the Income-tax Act, 2025. Previously, taxpayers were required to use separate forms such as Form 26QB, Form 26QC, Form 26QD, and Form 26QE for reporting TDS on specified transactions. These forms have now been merged into a single unified form, Form 141, to simplify compliance and reporting.
Which type of transactions can be reported in Form 141?
The following nature of transactions can be reported in Form 141-
- Schedule A: TDS on rent paid by an individual/HUF
- Schedule B: TDS on transfer of immovable property under section
- Schedule C: TDS on payment made by an individual/HUF to contractors or professionals
- Schedule D: TDS on payment made by an individual/HUF on transfer of Virtual Digital Assets (VDAs)
- Schedule E: TDS on transfer of any immovable property by a non-resident to a resident individual or a hindu undivided family.
Can a single unified Form 141 be used to report all types of transactions?
No, only one type of transaction can be selected per form. A separate Form 141 must be filed for each type of transaction.
Who is a deductor in case of Form 141?
The deductor in Form 141 refers to the person or entity responsible for deducting tax at source (TDS) and depositing it with the government. The deductor varies depending on the schedule being filed:
Schedule B and E (purchase of property): The buyer/purchaser of the property is the deductor.
Schedule A (rent payment): The tenant/payer responsible for paying rent is the deductor.
Schedule C and Schedule D: The person or entity making the payment and liable to deduct tax is the deductor.
Residential status of deductor:
In Schedule A, B, C and D, the deductor may be either a resident or a non-resident, as applicable.
However, Schedule E is applicable only where the deductor is a resident.
Can Form 141 be filed in cases where the deductee is a non‑resident?
Yes. With effect from October 1, 2026, Form 141 can also be used for reporting transactions involving non-resident deductees under Schedule E.
Schedule E is applicable where a resident individual or an HUF purchaser (deductor) purchases an immovable property from a non-resident seller (deductee) and is required to deduct tax under Section 393(2) of the Income-tax Act, 2025.
The details of the non-resident seller can be reported through Schedule E of Form 141.
However, for Schedules A, B, C, and D, the existing applicability provisions continue to apply and Schedule E should not be used.