Form No. 143 (Earlier Form No. 27EQ)

Form No. 143 – Frequently Asked Questions

Quarterly Statement of Collection of Tax at Source under section 397(3)(b) of the Income-tax Act, 2025

Name of form as per I.T. Rules, 1962	27EQ	Name of form as per I.T. Rules, 2026	143
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	31AA	Corresponding Rule of I.T. Rules, 2026	219

1. What is Form No. 143?

Ans: Form No. 143 is a quarterly statement filed by collectors who are responsible to collect tax at source on specified goods and transactions involving sale of scrap, tendu leaves, liquor, forest produce, parking lot, toll plaza, mining & quarrying, overseas remittance, foreign tour packages etc.

2. Who is required to file Form No. 143?

Ans: Every collector (seller, operator, or authorized person) responsible for collecting tax at source on specified transactions such as sale of motor vehicles, scrap, liquor, tendu leaves, foreign remittances, etc. is required to file Form No. 143.

3. Is filing of Form No. 143 mandatory?

Ans: Any collector, who is required to collect tax from buyers/collectees at the time of debit or receipt of payment, must file Form No. 143 for the relevant quarter(s).

4. What is the time limit for filing Form No. 143?

Ans: Form No. 143 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 collection is made

5. Is it mandatory to file Form No. 143 in electronic format?

Ans: Yes. As per the Income-tax Rules, all TDS/TCS statements including Form No. 143 must be furnished electronically in the prescribed format.

6. Can Form No. 143 be edited after submission?

Ans: No. Form No. 143 once submitted, cannot be edited. However, in order to correct or update the details in an already submitted Form No. 143, the collector is allowed to file a correction statement once the previously submitted statement has been processed by CPC-TDS.

7. 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. 143 for the Quarter 2 of Tax Year 2026-27 can be filed upto 31.03.2029.

8. How will collector know whether the Form No. 143 filed by him has been accepted by the Income-tax Department?

Ans: After filing Form No. 143 on the TRACES portal of Income-tax Department, the collector receives an Acknowledgment Receipt Number (ARN) on successful submission of the Form.

9. Why filing of Form No. 143 in a timely and accurate manner is important?

Ans: Filing of Form No. 143 in a timely and accurate manner is important as:

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

⮚ The collector 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).  

Tax collection at source statement filing requires quarterly electronic submission, correction limits, and acknowledgment on the portal. Form No. 143 is the mandatory quarterly electronic statement for collection of tax at source on specified goods and transactions, to be filed by the collector, seller, operator or authorised person responsible for collection at the time of debit or receipt of payment. It follows a quarterly due-date schedule, cannot be edited after submission, and may be corrected only through a correction statement after processing by CPC-TDS, within two years from the end of the relevant tax year. Successful filing generates an Acknowledgment Receipt Number on the TRACES portal.