Form 141: TDS on property and rent above ₹50,000 now on one form, replacing 26QB and 26QC
Form 141 replaces Forms 26QB, 26QC, 26QD and 26QE. Who must file it, TDS rates, the 30-day deadline, and the new NRI property schedule from 1 October 2026.
If you are buying a flat, paying high rent or selling crypto, the TDS form you have to file has changed. Under the new Income-tax Act, 2025, a single Form 141 has replaced Forms 26QB, 26QC, 26QD and 26QE. The Income Tax Department reminded taxpayers about it on 16 October 2026, and from 1 October 2026 the form also covers buying a property from an NRI.
What Form 141 replaces
Form 141 is a challan-cum-statement. You report the tax you deducted and pay it in the same step. It has one part, called a schedule, for each kind of payment:
- Schedule A: rent. This was Form 26QC.
- Schedule B: buying a property. This was Form 26QB.
- Schedule C: payments to contractors or professionals by individuals and HUFs who are not under tax audit. This was Form 26QD.
- Schedule D: transfer of crypto and other virtual digital assets. This was Form 26QE.
- Schedule E: buying a property from a non-resident. This is new from 1 October 2026.
The form applies to transactions from tax year 2026-27, which began on 1 April 2026. If you bought a property or paid rent before that, the old forms still apply to those payments.
Who has to deduct TDS and file it
- You buy a property worth ₹50 lakh or more. You deduct 1% of the price or the stamp duty value, whichever is higher. Agricultural land is not covered. If there are two or more buyers, each one files a separate form for their share.
- You pay rent of more than ₹50,000 for a month or part of a month, and you are an individual or HUF not under tax audit. You deduct 2%. The tax is deducted once, on the rent for the last month of the tax year or the last month of the tenancy, whichever comes first.
- You pay a contractor or professional more than ₹50 lakh in a year, and you are an individual or HUF not under tax audit. This is rare for salaried people, but it can apply to a large home construction contract.
- You buy crypto or another virtual digital asset from a person in a deal where you have to deduct tax yourself.
How to file
- Log in to the income tax e-filing portal with your own PAN. You do not need a TAN.
- Open Form 141, pick the one schedule that fits, and fill in the property, the seller or landlord's PAN and the amount.
- Pay the TDS online as part of the same filing. You get a challan number (CIN) and an acknowledgement number.
- Download the TDS certificate in Form 132 from the TRACES site and give it to the seller or landlord.
Each Form 141 covers one type of payment and one month. Payments of the same type in the same month can go in one form.
The deadline
File and pay within 30 days from the end of the month in which you deducted the tax. If you paid the seller on 10 October 2026, the deadline is 30 November 2026. Filing late attracts a late fee under section 427 of the new Act, and paying late attracts interest. You can correct a mistake with a correction statement within two years from the end of the tax year.
Check the seller's or landlord's PAN carefully. If the PAN is wrong, the tax will not show in their tax statement (Form 26AS), and a higher TDS rate can apply.
New from 1 October 2026: buying from an NRI
If the seller is a non-resident, TDS works differently and is usually higher, because it is worked out on the seller's capital gain. Until 30 September 2026 this case was not part of Form 141. A rule change notified on 22 September 2026 added Schedule E for it, from 1 October 2026, when the buyer is a resident individual or HUF. It asks for the seller's foreign address, their tax residency certificate number and whether the gain is long term or short term.
The rate for NRI sellers depends on their gain, so ask the seller for a lower TDS certificate if they have one, or take a tax expert's help before you pay.
Quick answers
- Is my tax bill higher? No. Form 141 changes the paperwork, not the tax rates.
- I run a business that is under tax audit. Do I use Form 141 for rent? No. Schedule A is only for individuals and HUFs not under tax audit. Others report TDS on rent in their regular TDS returns.
- Can the seller claim the TDS? Yes. Once you file correctly, it shows in their tax statement and counts against their tax.
Sources: Income Tax Department: Form 141 FAQs, Income Tax Department: Form 141 filing guide, Income-tax Act, 2025: section 393 (TDS rates and limits), CBDT Notification 121/2026: Income-tax (Fifth Amendment) Rules, 2026, Mint: Income Tax New TDS Form 141 (18 October 2026)
Rules, rates and limits change. Check the official source linked above before you rely on a figure here. Posts never contain referral or affiliate links from the writer.
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