Income Tax Act 2025 | All 24 Sections | New Nature Codes | Forms 138 / 140 / 141 / 144 | Major Head 0020 / 0021
FY 2026-27 | TY 2026-27
Major Head is determined by the Deductee's PAN 4th letter — not the deductor. Enter deductee PAN below:
| New Form (IT Act 2025) | Old Form (IT Act 1961) | Purpose | Certificate Issued |
|---|---|---|---|
| Form 138 | Form 24Q | Quarterly TDS return — Salary (s.392) | Form 130 (was Form 16) |
| Form 140 | Form 26Q | Quarterly TDS — Non-Salary Resident (s.393(1)/(3)) | Form 131 (was Form 16A) |
| Form 144 | Form 27Q | Quarterly TDS — Non-Resident / Foreign Co. (s.393(2)) | Form 131 (was Form 16A) |
| Form 143 | Form 27EQ | Quarterly TCS return (s.394) | Form 133 (was Form 27D) |
| Form 141 (Sch.A) | Form 26QC | Rent by Indv/HUF ≥ ₹50,000/month — Code 1007 | Form 132 (was Form 16C) |
| Form 141 (Sch.B) | Form 26QB | Property Purchase ≥ ₹50 lakh — Code 1010* | Form 132 (was Form 16B) |
| Form 141 (Sch.C) | Form 26QD | Indv/HUF Non-Audit Contractor/Professional — Code 1025* | Form 132 (was Form 16D) |
| Form 121 | Forms 15G / 15H | Self-declaration for Nil/Lower TDS (s.393(6)) | — |
| Form 128 | Form 13 | Application for lower/nil TDS certificate (s.395(1)) | — |
| Forms 145 / 146 | Forms 15CA / 15CB | NRI remittance information (145) + CA certificate (146) | — |
| Form 168 | Form 26AS | Annual Information Statement (s.402) | — |
The TDS Calculator (FY 2026-27 / AY 2027-28) computes the Tax Deducted at Source (TDS) applicable on various payments including salary, professional fees (194J), rent (194I), interest (194A), contractor payments (194C), commission (194H), and property purchase (194IA). It applies the correct TDS rate, checks whether the threshold limit is crossed, and shows the exact TDS amount to be deducted per payment or for the year. Updated for the Finance Act 2025 and the Income Tax Act, 2025.
What if the payee does not provide PAN?
Under Section 206AA, if PAN is not furnished, TDS must be deducted at the higher of: (a) rate specified in the relevant provision, or (b) 20%. The payee also cannot claim credit without a valid PAN.
Is TDS applicable if payment is below the threshold?
No. TDS is applicable only if the payment crosses the threshold specified under the relevant section. For example, under Section 194J, TDS applies only if professional fees exceed ₹30,000 per year.
When must TDS be deposited?
TDS deducted must be deposited to the government by the 7th of the following month (for March — by 30th April). Late deposit attracts interest under Section 201(1A) at 1.5% per month.
Is Form 16/16A mandatory?
Yes. Deductors must issue Form 16 (salary TDS) or Form 16A (non-salary TDS) to deductees. Form 16 must be issued by 15th June; Form 16A within 15 days from the due date of filing TDS return.