Tax deduction reporting requires transaction-specific challan statements for rent, property transfers, specified payments, and virtual digital asset transfers.

Form No. 141 is a challan-cum-statement for tax deduction at source on rent, immovable-property transfers, specified contractual, commission, brokerage and professional payments, virtual digital asset transfers, and specified non-resident property transfers. It requires deductor, deductee, transaction, payment, deduction-rate, tax and challan particulars. Property-transfer schedules capture property values, consideration, instalments and seller-wise deductions. Virtual digital asset transfers require separate reporting for cash and in-kind or exchange transactions. Non-resident seller reporting includes overseas contact details and, where PAN is unavailable, tax residency and identification particulars.

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