Each Form 141 can report only one type of transaction, and a separate form must be filed for each transaction category.
Form 141 is a PAN-based challan-cum-statement for reporting and depositing TDS deducted.
The income tax department has introduced a new TDS form that makes reporting and paying ‘Tax Deducted at Source’ for rent, property, and professional payments much easier.
Form 141 is the unified challan cum statement introduced under the Income Tax Act, 2025. Form 141 consolidates all PAN-based TDS statements and replaces earlier forms — 26QB, 26QC, 26QD, and 26QE —which were previously used to report TDS on specified transactions under the Income Tax Act, 1961.
Under the IT Act 2025, Form 141 has been redesigned as a single, comprehensive statement for reporting tax deducted under section 393(1).
The form is structured into four schedules corresponding to different transaction categories:
Schedule A: TDS on rent paid by an Individual/HUF
Schedule B: TDS on transfer of immovable property
Schedule C: TDS on payments made by an Individual/HUF to contractors or professionals
Schedule D: TDS on transfer of Virtual Digital Assets (VDA) by an Individual/HUF
Key Points to Know
Each Form 141 can report only one type of transaction, and a separate form must be filed for each transaction category. Multiple deductees may be included within the same form only if they fall under the same deductee category and the month of deduction is identical. Form 141 applies only to resident deductees and must be filed through the PAN login on the e-Filing portal.
Prerequisites
You must be a registered user with a valid user ID and password on the e-Filing portal. Your PAN status should be “Active,” and if you are an individual, linking your PAN with Aadhaar is recommended. Form 141 can only be filled out in post-login mode.
Who should file
Depending on the nature of the transaction, the following schedules of the Form 141 need to be filled up by the respective deductors:
Schedule A – Any individual or Hindu Undivided Family (HUF) paying rent over Rs. 50,000 per month to a resident transferor must deduct income tax at the rate specified in section 393(1) and file Schedule A of Form No. 141 as a tax deduction statement.
Schedule B – Any transferee paying a resident transferor for immovable property (excluding agricultural land) must deduct income tax at the rate set in section 393(1) when crediting or paying the amount. They are required to file Schedule B of Form No. 141 as a statement of the tax deduction.
Schedule C – Any individual or Hindu Undivided Family (HUF) that pays a resident more than Rs 50 lakh in a financial year for various services, such as work contracts, commissions (excluding insurance commissions under section 194D), brokerage, or professional fees, must deduct tax at source as per section 393(1) of the Income-tax Act. They are required to file Schedule C of Form No. 141 to report this tax deduction.
Schedule D – Anyone responsible for paying consideration to a resident transferor for the transfer of a Virtual Digital Asset (VDA) must deduct tax at the source as defined in section 393(1). This includes specified persons, such as individuals and HUFs with annual turnover below Rs 1 crore or Rs 50 lakh for professions, applicable when the consideration for VDA transfer exceeds the set monetary threshold. These individuals are required to file Schedule D of Form No. 141 as a statement of tax deduction.
How to file Form No. 141
Login to the Income-tax e-Filing Portal using PAN
Go to ‘e-Pay Tax’
Select the relevant Schedule of the Form
Fill Details: Details of Deductor and Deductee: PAN, Addresses, Contact No., Email ID; Transaction details (Rent/Immovable Property/Service/VDA):TDS Rate, Date of Deduction, Tax Amount
Payment and Submission – Make online TDS payment, Submit the Form, Download the challan-cum-statement
Disclaimer: This article is for informational purposes only and does not constitute professional tax advice. Tax laws and regimes are subject to frequent changes by the government. Readers should verify details with official Income Tax Department notifications or consult a Chartered Accountant before making any financial decisions.
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