New TDS Forms 138 & 140 Replace 24Q & 26Q

The government has introduced new Forms 138 and 140 for Tax Deducted at Source (TDS) reporting. These forms replace the previously used Forms 24Q and 26Q.

The introduction of these new forms aims to streamline the TDS reporting process.

Taxpayers and entities responsible for TDS and Tax Collected at Source (TCS) should familiarize themselves with the new forms and their requirements to ensure compliance.