Form No. 138 (Earlier Form No. 24Q)

Form No. 138 – Frequently Asked Questions

Quarterly statement of deduction of tax in respect of salary paid to employee under section 392 [other than section 392(7)], or income of specified senior citizen under section 393(1) [Table: Sl. No. 8(iii)]

Name of form as per I.T. Rules, 1962	24Q	Name of form as per I.T. Rules, 2026	138
Corresponding section of I.T. Act, 1961	200(3)	Corresponding section of I.T. Act, 2025	397(3)(b)
Corresponding Rule of I.T. Rules, 1962	31A	Corresponding Rule of I.T. Rules, 2026	219

1. What is Form No. 138?

Ans: Form No. 138 is a quarterly statement filed by employers responsible for deduction of tax at source from salaries paid to employees under section 392 or by the specified bank in respect of income paid to specified senior citizen under section 393(1) [Table: Sl. No. 8(iii)] of the Income-tax Act, 2025.

2. Who is required to file Form No. 138?

Ans: Any employer (company, firm, government, individual, etc.) who deducts tax from employees’ salaries, and any specified bank who deducts tax on Pension and Interest income paid to specified senior citizen, are required to file Form No. 138.

3. Are all the annexures of Form No. 138 required to be submitted for each quarter?

Ans: No. Only annexure-I is required to be submitted for all the four quarters. However, Annexure-II and Annexure-III are to be submitted only for the last quarter (Q4).

4. Is filing of Form No. 138 mandatory?

Ans: Form No. 138 must be filed for each quarter if any one of the below-mentioned conditions is satisfied-

• The employer has deducted tax under section 392 on salary paid to any employee
• The specified bank has paid pension and interest income to a specified senior citizen under section 393(1) [Table: Sl. No. 8(iii)]

5. What is the periodicity and time limit for filing Form No. 138?

Ans: Form No. 138 is to be filed quarterly:

Quarter	Period	Due Date
Q1	Apr – Jun	31st July of the Financial Year
Q2	Jul – Sep	31st October of the Financial Year
Q3	Oct – Dec	31st January of the Financial Year
Q4	Jan – Mar	31st May of the Financial Year immediately following the Tax Year in which deduction is made

6. Is it mandatory to file Form No. 138 in electronic format?

Ans: Yes. As per the Income-tax Rules, all TDS/TCS statements including Form No. 138 must be furnished electronically in the prescribed format.

7. Can Form No. 138 be edited after submission?

Ans: No. Form No. 138 once submitted, cannot be edited. However, in order to correct or update the details in an already submitted Form No. 138, the deductor is allowed to file a correction statement once the previously submitted statement has been processed by CPC-TDS.

8. What is the time limit for filing the correction statement?

Ans: Within two years from the end of the tax year in which the statement was required to be delivered. For example, the correction statement in respect of Form No. 138 for the Quarter 3 of Tax Year 2026-27 can be filed upto 31.03.2029.

9. How will deductor know whether the Form No. 138 filed by him has been accepted by the Income-tax Department?

Ans: After filing Form No. 138 on the TRACES portal of Income-tax Department, the deductor receives an Acknowledgment Receipt Number (ARN) on successful submission of the Form.

10. Why filing of Form No. 138 in a timely and accurate manner is important?

Ans: Filing of Form No. 138 in a timely and accurate manner is important as:

⮚ It will ensure that accurate and complete tax credit is passed onto the deductees. Consequently, it will also eliminate scope for deductee related grievances.

⮚ The deductor would be able to avoid legal challenges associated with noncompliance including late filing fee u/s 427 and penal proceedings u/s 461 and 465(2)(g).

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.