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April 2, 2026
Form No. 141 - Frequently Asked Questions
Show AI Summary
Consolidated TDS reporting through Form 141 streamlines tax deduction filing, schedule-wise payment, and compliance for specified transactions.
Form No. 141 is a single consolidated challan-cum-statement for reporting and payment of tax deducted at source on specified transactions through separate schedules instead of multiple standalone forms. It replaces Forms 26QB, 26QC, 26QD and 26QE, and requires only the relevant schedule to be completed for the transaction reported. The form is filed using PAN, not TAN, and is available for rent, immovable property, contractor or professional payments, and transfer of virtual digital assets, with one transaction type per form.
April 2, 2026
India's defence exports rise 62 pc to hit record Rs 38,424 crore in FY26
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Defence exports growth reflects India's indigenous manufacturing strength, wider global acceptance, and streamlined export regulation.
India's defence exports recorded a new high, driven by indigenous manufacturing strength, wider global acceptance of Indian defence products, and a collaborative ecosystem involving defence public sector undertakings and private industry. The exports reached more than 80 countries, while the number of exporters increased, reflecting growing participation in the sector. The ministry also noted that streamlined export regulatory processes, a revamped online portal, and simplified authorisation procedures supported this growth.
April 2, 2026
Stock markets stage stunning comeback; Sensex rises 185 pts, Nifty reclaims 22,700 on value buying, rupee rebound
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Foreign exchange market restrictions by RBI drove dollar unwinding and triggered a meaningful rupee rebound.
RBI took twin foreign exchange market restrictions by capping banks' net open rupee positions and barring non-deliverable forward offerings to corporates. The measures were directed at limiting banks' activity in onshore forward markets and were described as forcing dollar unwinding, thereby producing a meaningful rebound in the rupee.
April 2, 2026
Guidance Note – Form 140
Show AI Summary
Quarterly TDS statement for non-salary payments requires deductor details, deductee-wise reporting, and prescribed filing steps.
Form No. 140 is the quarterly TDS statement for non-salary payments to resident deductees, filed by persons responsible for deduction of tax on specified payments such as interest, commission, brokerage, professional fees, and rent. The form requires deductor particulars, tax payment details, and a deductee-wise annexure covering PAN, amount paid or credited, tax deducted and deposited, deduction rate, and related certificate details. Filing is quarterly, supported by challans and PAN details, and involves preparation, validation, and upload through the prescribed electronic or facilitation-centre process.
April 2, 2026
Rupee strengthens 1.6 pc to settle at 93.14 against US dollar after RBI measures
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Foreign exchange market curbs drive rupee higher as banks adjust positions under Reserve Bank restrictions.
Reserve Bank of India measures to curb banks' activity in the onshore and derivative foreign exchange markets led to a sharp appreciation in the rupee after recent volatility and heavy pressure from capital outflows, a stronger dollar and higher crude prices. The central bank capped the net open position on the Indian rupee for banks at USD 100 million and required compliance by a specified deadline, while also restricting authorised dealers from offering non-deliverable derivative contracts involving the rupee to resident or non-resident users. Users were further barred from rebooking foreign exchange derivative contracts, whether deliverable or non-deliverable, once cancelled after the issuance of the instructions.
April 2, 2026
Form No. 140 – Frequently Asked Questions
Show AI Summary
Tax deduction statement filing governs quarterly reporting, electronic submission, correction limits, and acknowledgment for non-salary resident payments.
Form No. 140 is the quarterly electronic statement of deduction of tax at source for non-salary payments made to resident deductees, and it is mandatory for all deductors responsible for such payments. It must be filed within the prescribed quarterly due dates, cannot be edited after submission, and corrections may be filed only after processing by CPC-TDS within the specified two-year time limit. Successful filing on the TRACES portal generates an Acknowledgment Receipt Number.
April 2, 2026
Guidance Note – Form 139
Show AI Summary
Excess TDS and TCS refund claims move through a TRACES-based electronic form with pre-filled challan details and digital signing.
Form No. 139 is the electronic refund application by which a deductor, collector, or eligible taxpayer may claim refund of excess tax paid under Chapter XIX. Filing is permitted where the corresponding TDS or TCS statement has been processed and the excess remains as an unmatched or unconsumed challan credit. The application requires challan particulars, utilisation details, refund amount, declaration, digital signature, and supporting bank and tax records.
April 2, 2026
Form No. 139 – Frequently Asked Questions (FAQs)
Show AI Summary
Excess TDS/TCS refund claims under Form No. 139 must be filed online, after processing, and only when credit remains unallowed.
Form No. 139 is the prescribed online application for a deductor or collector to claim refund of excess TDS/TCS deposited under Chapter XIX-B of the Income-tax Act, 2025, where the excess is not adjusted against any other liability in the system. The form may be filed only after the relevant statement has been processed, cannot be edited after acknowledgment is generated, and is not maintainable once the deductee has been allowed credit for the same tax. Approved refunds, along with interest, are credited to the prevalidated bank account, and refund arising from appellate or rectification orders does not require filing of the form.
April 2, 2026
Guidance Note – Form 138
Show AI Summary
Quarterly TDS statement for salary and specified senior citizen income streamlines deductor reporting, annexures, and filing compliance.
Form No. 138 is the quarterly TDS statement for salary and specified senior citizen income, replacing Form 24Q and being filed under the Income-tax Act, 2025 and the Income-tax Rules, 2026. It is used by employers and specified deductors to report tax deducted and deposited, together with deductor particulars, deductee-wise details, and quarterly annexures. Annexure I applies to all quarters, while Annexure II and Annexure III are filed only in the last quarter for salary and specified senior citizen income details.
April 2, 2026
Form No. 138 – Frequently Asked Questions
Show AI Summary
Quarterly TDS statement filing requires electronic submission, prescribed annexures, correction limits, and timely compliance for tax credit reporting.
Form No. 138 is a quarterly electronic TDS statement required from employers deducting tax from salaries and specified banks deducting tax from pension and interest income of specified senior citizens. Only Annexure-I is filed for all quarters, while Annexure-II and Annexure-III are filed only for Q4. The form must be filed within the prescribed quarterly due dates, cannot be edited after submission, and may be corrected within two years after processing by CPC-TDS.
April 2, 2026
Guidance Note – Form 137
Show AI Summary
TDS/TCS book adjustment reporting requires monthly filing of Form 137 for government office tax credits.
Form No. 137 is the monthly TDS/TCS book adjustment statement filed by Government offices and related accounts offices to report tax deducted or collected without challan and credit it to the Central Government account through the book adjustment system. It is filed under the Income-tax Rules, 2026 by offices remitting TDS/TCS through book entry rather than challan, with prescribed due dates, accounts office particulars, DDO-wise transfer voucher details and supporting AIN, TAN and voucher data. Processing generates Book Identification Numbers for DDOs for use in quarterly TDS/TCS statements.
April 2, 2026
Form No. 137 – Frequently Asked Questions
Show AI Summary
TDS/TCS book adjustment reporting requires mandatory electronic filing, AIN-based processing, and BIN generation for government offices.
Form No. 137 is the monthly consolidated TDS/TCS book adjustment statement for government offices where tax is credited to the Central Government without challan payment. It is mandatory for the concerned Accounts Officer, must be filed electronically within the prescribed time, and may be revised to correct mistakes. An Accounts Office Identification Number is required, and processing of the form generates a Book Identification Number used for related TDS/TCS statements and tax credit flow.
April 2, 2026
West Asia crisis: Govt exempts import duty on key petrochemical products till June
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Customs duty exemption on critical petrochemicals aims to steady supply chains and ease input costs across manufacturing sectors.
Temporary customs duty exemption granted on critical petrochemical products to address supply disruptions arising from the West Asia conflict and consequent global shipping and supply chain disturbances. The measure is directed at preserving the availability of essential petrochemical inputs for domestic industry, maintaining supply stability, and easing cost pressures on sectors dependent on petrochemical feedstock and intermediates, including plastics, packaging, textiles, pharmaceuticals, chemicals and automotive components. The exemption applies to specified petrochemical goods, including methanol, anhydrous ammonia, toluene, styrene, dichloromethane, vinyl chloride monomer, poly butadiene, styrene butadiene and unsaturated polyester resins.
April 2, 2026
Guidance Note – Form 136
Show AI Summary
Accounts Office Identification Number application governs book-adjustment TDS/TCS reporting, supervisory verification, and TRACES-based allotment.
Form No. 136 is the statutory application for allotment of an Accounts Office Identification Number (AIN) to government Accounts Officers making TDS/TCS payments through book adjustment without challan production. The form is required only once, and the allotted AIN is mandatory for filing Form No. 137 statements for monthly reporting of such remittances. It requires applicant particulars, declarations, supervisory counter-verification, and code-based annexures, and may be filed online on TRACES or offline before the jurisdictional Commissioner of Income-tax (TDS).
April 2, 2026
Form No. 136 – Frequently Asked Questions
Show AI Summary
Accounts Office Identification Number rules govern AIN allotment, filing modes, eligibility, and later modification for government offices.
Form No. 136 is the application for allotment of an Accounts Office Identification Number (AIN) for Central and State Government Accounts Offices making TDS/TCS payments through book adjustment. AIN is a unique seven-digit identifier, and non-government offices are not eligible. The form may be filed online through the TRACES portal or offline before the jurisdictional Commissioner of Income-tax (TDS). Only one AIN is allotted to an Accounts Office, and details may later be modified. TAN is not mandatory, though it must be mentioned if already available.
April 2, 2026
Guidance Note – Form Nos. 134 & 135
Show AI Summary
Tax Deduction and Collection Account Number forms now require category-specific details, documents, and streamlined filing rules.
Forms Nos. 134 and 135 are prescribed for allotment of a unique Tax Deduction and Collection Account Number (TAN), with Form 134 for Government applicants and Form 135 for non-Government applicants. They apply to persons required to deduct or collect tax at source, file TDS/TCS statements, or issue TDS/TCS certificates. The revised forms separate Government and non-Government categories and require category-specific particulars, mandatory PAN-related details, and supporting documents. The process may be completed online or physically and results in TAN allotment and dispatch of the TAN letter.
April 2, 2026
Form No. 134 & 135 - Frequently Asked Questions
Show AI Summary
Tax Deduction and Collection Account Number rules define TAN application forms, eligibility, documents, fee and correction procedures.
TAN is the unique identifier used for TDS and TCS compliances and must be quoted in related communications and filings. Under the Income-tax Rules, 2026, TAN applications are made through Form No. 134 for Government category deductors and Form No. 135 for non-Government applicants, either offline at authorised PAN centres or online through the prescribed portals. Incomplete applications are treated as invalid, post-submission edits are not permitted, correction requests may be made after allotment, and the fee is payable. Government applicants require AIN and the prescribed certificate; non-Government applicants require identity, address and incorporation-related documents, with PAN mandatory.
April 2, 2026
SC cancels bail granted to Satinder Singh Bhasin in Grand Venice Mall 'scam' case
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Bail cancellation for non-compliance leads to surrender, passport restraint, forfeiture of deposit, and insolvency-linked conditions.
Cancellation of bail granted in connection with the alleged Grand Venice Mall scam after non-compliance with bail conditions. The Supreme Court directed surrender within one week, barred release of the passport without leave of the Court, and ordered forfeiture and disbursal of the deposited bail amount. Fresh regular bail may be sought only after twelve months and subject to compliance with the insolvency proceedings invoked against the petitioner's companies under the Insolvency and Bankruptcy Code, 2016.
April 2, 2026
Form No. 133 – Frequently Asked Questions (FAQ)
Show AI Summary
TCS certificate issuance rules govern Form No. 133, including TRACES generation, correction, duplicate issue, and credit claims.
Form No. 133 is the prescribed TCS certificate under section 395(4)(a) of the Income-tax Act, 2025, issued by the person responsible for collection of tax at source to the collectee as proof of tax collected and deposited with the Central Government. It enables the collectee to claim TCS credit on filing the return of income. The certificate is generated only after filing and processing of the quarterly TCS statement in Form No. 143 through the TRACES portal, must be issued within the prescribed time, and may be corrected, preserved, or reissued as a duplicate in accordance with the stated requirements.
April 2, 2026
Form No. 132 – Frequently Asked Questions (FAQ)
Show AI Summary
TDS certificate compliance requires Form 132 for specified payments, TRACES generation, and timely issuance after processing.
Form No. 132 is the consolidated TDS certificate for specified payments such as rent, immovable property transfers, technical services, contractual payments and transfer of Virtual Digital Assets. It must be issued by the deductor after tax is deducted and deposited, serves as proof of tax deposited with the Central Government, and enables the deductee to claim TDS credit. The certificate is generated from TRACES only after the challan-cum-statement in Form No. 141 is filed and processed, and it must be issued within 15 days from the due date for that filing.

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Form No. 134 & 135 - Frequently Asked Questions

April 2, 2026

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Form No. 134 & 135 (Earlier Form No. 49B)

Form No. 134 & Form No. 135 - Frequently Asked Questions

Form for application for allotment of Tax Deduction and Collection Account Number [TAN] under section 397 of Income-tax Act, 2025

Name of form as per I.T. Rules, 1962

49B

Name of form as per I.T. Rules, 2026

134 & 135

Corresponding section of I.T. Act, 1961

203A

Corresponding section of I.T. Act, 2025

397

Corresponding Rule of I.T. Rules, 1962

114A

Corresponding Rule of I.T. Rules, 2026

216

 

Form No.

Applicant Type

134

Government

135

Non-Government

1. What is TAN?

Ans: TAN (Tax Deduction and Collection Account Number) is a unique identifier allotted by the Income-tax Department to persons/entities responsible for deduction of tax at source (TDS) or collection of tax at source (TCS). It is required to be quoted in all TDS/TCS related communications and compliances.

2. Who should apply for TAN?

Ans: Any person/entity who is required to deduct or collect tax at source (TDS/TCS), file TDS/TCS statements or issue TDS/TCS certificates should apply for TAN.

3. Which forms are prescribed for TAN application under the Income-tax Rules, 2026?

Ans: TAN application has been bifurcated into two e‑Forms:

(i) Form No. 134 – Application for Allotment of Tax Deduction and Collection Account Number for Government Category

(ii) Form No. 135 – Application for Allotment of Tax Deduction and Collection Account Number for non- Government Category (Individual and other than Individual entity).

4. Is TAN different from PAN?

Ans: Yes, TAN is different from PAN. TAN is an identifier for persons/entities responsible for Tax Deducted at Source (TDS)/Tax Collected at Source (TCS) compliances whereas PAN is an identifier for taxpayers. Wherever TAN is required, PAN cannot be quoted in place of TAN.

5. Whether a separate TAN is required for Tax Collected at Source (TCS)?

Ans: No, the TAN allotted for TDS can also be used for TCS. If an entity does not have a TAN, it should apply for TAN using the applicable form.

6. How can an applicant apply for TAN?

Ans: TAN applications can be submitted through the following modes:

i. Offline at authorized PAN Centers

ii. Online through Protean or MCA portal.

7. Who is the ‘person responsible for deduction/collection of tax’?

Ans: Person responsible for deduction/collection of tax is the authorised person accountable for TDS/TCS compliances on behalf of the deductor/collector.

8. What happens if an application is incomplete or deficient?

Ans: Incomplete/deficient applications are liable to be treated as invalid.

9. Whether TAN application can be edited after final submission?

Ans: No, after final submission and generation of acknowledgement, edits are not permitted in TAN Application. In case of any change, applicant may submit change request (correction application) after TAN is allotted.

10. Is Correction allowed in TAN?

Ans: Yes, TAN correction request can be submitted using correction application.

11. How will applicants know that TAN is allotted?

Ans: A letter will be sent to the applicant’s registered E-mail id once TAN is allotted.

12. Is there any fee for TAN application?

Ans: Yes, fees of Rs.77 (inclusive of GST) is applicable.

13. What should be done in case of change in details after allotment of TAN?

Ans: Any change/correction in TAN details should be carried out through the prescribed change request forms for TAN holders.

Form No. 134 & 135 (Earlier Form No. 49B)

FAQs (Forms wise)

Form No. 134: Form for application for allotment of Tax Deduction and Collection Account Number [TAN] under section 397 of Income-tax Act, 2025 for Government Category Deductors

1. What is Form No. 134?

Ans: Form No. 134 is an application form for allotment of Tax Deduction and Collection Account Number (TAN) for Government Category Deductors.

2. Who can file Form No. 134?

Ans: Form No. 134 can be filed by Government entities i.e. Central Government, State Government and Local Authorities.

3. What documents are required to file Form No. 134?

Ans: AIN and Certificate from PAO/ZAO/DTO/CDDO are required for filing the application in Form No. 134.

Note: AIN (Accounts Office Identification Number) is a unique identifier assigned to an Accounts Office (AO) that is responsible for reporting and reconciliation of TDS/TCS transactions for Government deductors.

4. What is Accounts Office Identification Number (AIN) and why is it required in Government TAN application?

Ans: AIN is a 7-digit unique number allotted by the Income-tax Department to PAOs (Pay & Accounts Offices), DDOs (District Treasury Offices) and CDDOs (Cheque Drawing & Disbursing Officers). AIN links the deductor/collector to the relevant Accounts Office for Government reporting and reconciliation. Making AIN mandatory improves traceability and correct mapping for Government deductors.

Form No. 134 & 135 (Earlier Form No. 49B)

Form No. 135: Form for application for allotment of Tax Deduction and Collection Account Number [TAN] under section 397 of Income-tax Act, 2025 for other than Government Entities

1. What is Form No. 135?

Ans: Form No. 135 is an application form for allotment of Tax Deduction and Collection Account Number (TAN) for Categories other than Government Entities.

2. Who can file Form No. 135?

Ans: Form No. 135 can be filed by any person other than Government Entities to apply for TAN. The following entities are eligible to file this form:

  • Individuals,
  • Branch of Individual Business (Sole proprietorship concern),
  • LLP / Firm/Association of Persons / Trust / Body of Individual / Artificial Juridical Person/ Hindu Undivided Family (HUF),
  • Branch of LLP / Firm/Association of Persons / Trust / Body of Individual / Artificial Juridical Person/ Hindu Undivided Family (HUF),
  • Company,
  • Branch/Division of Company,
  • Statutory/Autonomous bodies.

3. What are the supporting documents required for Non‑Government Categories applying for TAN?

Ans: The following supporting documents are required for TAN Application as per Rule 216 of Income-tax Rules, 2026:

i. Proof of Identity (POI)

ii. Proof of Address (POA)

iii. Proof of Date of Birth / Date of Incorporation (as applicable)

4. Is PAN mandatory for TAN application in Form No. 135?

Ans: Yes, PAN is mandatory for categories other than Government category.

5. What additional identifiers are required in Form No. 135?

Ans: Depending on the category, Form No. 135 captures additional identifiers such as LLP registration number for LLP’s and Corporate Identity Number (CIN) for companies mandatorily.

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