TDS Return Filing 2026: The Income Tax Department has reminded taxpayers, employers and businesses that deducting Tax Deducted at Source (TDS) is only one part of their tax compliance responsibilities. Depositing the deducted amount with the government, filing the prescribed quarterly statements and issuing TDS certificates within the specified deadlines are equally important.
For the second quarter of Tax Year 2026-27, covering July 1 to September 30, 2026, the deadline for filing quarterly TDS returns is October 31, 2026.
Another important deadline follows on November 15, 2026, when eligible deductors must issue Form 131 certificates for TDS deducted on non-salary payments.
The department has encouraged deductors to complete these requirements on time to avoid applicable interest, late filing fees and penalties.
TDS Return Filing 2026: Important Dates
| Compliance Requirement | Deadline |
|---|---|
| Tax year | 2026-27 |
| Second quarter | July 1 to September 30, 2026 |
| Q2 TDS return filing | October 31, 2026 |
| Q2 TCS statement filing | October 31, 2026 |
| Form 131 certificate issuance | November 15, 2026 |
| Applicable legislation | Income-tax Act, 2025 |
These dates relate to the regular quarterly compliance requirements. Certain transactions covered by separate challan-cum-statement provisions follow different deadlines.
Why Is October 31 Important for TDS Deductors?
Businesses and other persons responsible for deducting tax must report the relevant deductions to the Income Tax Department.
The quarterly TDS statement contains information about payments, tax deductions, deductees and the corresponding tax deposits.
The information helps the department match tax deducted by payers with the credits available to recipients.
For the July–September 2026 quarter, regular TDS statements must be filed by October 31.
Failure to submit the required statement within the prescribed time can result in late fees and other consequences under the applicable law.
Deductors should therefore review their records and complete filing before the deadline.
New TDS Return Forms Applicable From 2026
The Income-tax Act, 2025, which came into effect on April 1, 2026, introduced revised form numbers for several tax compliance requirements.
The new framework applies to the relevant transactions and reporting periods beginning in Tax Year 2026-27.
| New Form | Earlier Form | Purpose |
|---|---|---|
| Form 138 | Form 24Q | Quarterly salary TDS statement |
| Form 140 | Form 26Q | TDS statement for specified non-salary payments to residents |
| Form 144 | Form 27Q | TDS statement for specified payments to non-residents |
| Form 143 | Form 27EQ | Quarterly TCS statement |
| Form 131 | Form 16A | TDS certificate for non-salary payments |
Deductors should ensure that they use the correct forms for the relevant tax year.
The older forms remain relevant for reporting or correcting periods governed by the previous legislation, where applicable.
What Is Form 131?
Form 131 is the TDS certificate issued for eligible non-salary payments under the new income tax framework.
It replaces the earlier Form 16A for the applicable tax year.
The certificate provides information about the tax deducted from payments made to a recipient.
Such payments may include professional fees, contractual payments, commission, rent and interest, depending on the applicable TDS provisions.
The recipient can use the certificate to verify the amount deducted and reconcile it with tax credit records.
For the July–September 2026 quarter, the stated deadline for issuing Form 131 is November 15, 2026.
Is Form 131 Required for Salaried Employees?
Form 131 is primarily associated with TDS on non-salary payments.
Salary-related TDS certificates follow a different framework.
Under the Income-tax Act, 2025, Form 130 replaces the earlier Form 16 for the applicable tax year.
Therefore, employers and businesses should not assume that the November 15 Form 131 deadline applies to annual salary TDS certificates.
The appropriate certificate depends on the type of payment and the relevant reporting provisions.
What Happens If You Miss the TDS Return Deadline?
Delayed TDS compliance can result in financial consequences.
Under the applicable provisions of the Income-tax Act, 2025, late filing of a prescribed TDS statement may attract a fee of ₹200 per day, subject to the statutory limit.
For example, if a return is filed 10 days after the due date, the calculated late fee could be:
₹200 × 10 days = ₹2,000
The actual payable amount remains subject to the applicable statutory cap and other conditions.
Additional penalties may apply in circumstances specified by law.
Interest can also arise when tax is not deducted or deposited within the prescribed period.
These consequences are not interchangeable: late filing, late deposit and failure to deduct tax are different types of non-compliance.
Is Depositing TDS Enough?
No. Depositing TDS with the government does not eliminate the separate requirement to file the applicable statement.
The deductor must report the transaction and tax deduction details accurately.
For example, a business may have deducted and deposited TDS on professional fees during September 2026.
Even after the deposit, it must file the relevant quarterly statement within the prescribed deadline.
It must also issue the required TDS certificate to the recipient within the applicable period.
Completing each step helps ensure that the recipient's tax records are correctly updated.
How to File Q2 TDS Returns Online
Eligible deductors can complete their TDS filing through the prescribed electronic process.
The general steps include:
- Visit the official Income Tax e-Filing portal at https://www.incometax.gov.in/.
- Sign in using the relevant deductor credentials.
- Select the appropriate TDS statement filing facility.
- Prepare the statement using the prescribed form and format.
- Verify deductee details, PAN information and tax payment records.
- Upload or submit the statement through the authorised process.
- Complete the applicable verification requirements.
- Retain the acknowledgement for future reference.
The exact submission process may depend on the type of deductor and the prescribed electronic filing utility.
Deductors should follow the current instructions published by the Income Tax Department.
How to Download and Issue Form 131
After filing the applicable TDS statement and completing the necessary processing requirements, deductors can obtain the prescribed TDS certificate through the authorised TRACES facility.
They should check that the certificate correctly reflects the recipient's details and the tax deducted.
The certificate should then be provided to the relevant deductee within the prescribed deadline.
For Q2 of Tax Year 2026-27, that deadline is November 15, 2026.
Maintaining accurate records can help prevent discrepancies when recipients review their tax information.
Who Should Pay Attention to These Deadlines?
The October 31 deadline is particularly important for employers, businesses, organisations and other persons required to submit regular quarterly TDS statements.
It may apply to tax deducted from salaries and specified non-salary payments.
Persons responsible for collecting tax at source must also check the corresponding TCS filing obligations.
The November 15 deadline is relevant to deductors required to issue Form 131 certificates.
Individual taxpayers receiving payments subject to TDS should also review their records to ensure that the deducted tax has been reported correctly.
Important Compliance Checklist
Before the deadline, deductors should review their records carefully.
They should confirm that all applicable TDS amounts have been deposited and that challan details are correctly reflected.
PAN information, payment amounts, deduction rates and recipient details should also be checked.
Any mismatch may require correction through the prescribed process.
Completing the statement early can provide time to address technical errors or missing information before the filing deadline.
Final Update
The Income Tax Department has highlighted two important TDS compliance deadlines for the second quarter of Tax Year 2026-27.
October 31, 2026, is the deadline for filing regular Q2 TDS returns, while November 15, 2026, is the deadline for issuing applicable Form 131 certificates.
Businesses and other deductors should complete the required tax deposits, statement filings and certificate issuance within the prescribed periods.
Timely compliance can help avoid unnecessary fees, interest and penalties while ensuring that recipients receive accurate TDS information.
Official website: https://www.incometax.gov.in/
Disclaimer: This article provides general tax compliance information. Special transaction categories, exemptions and revised deadlines may follow separate rules. Deductors should consult official Income Tax Department instructions or a qualified tax professional for their specific obligations.
The October 31 deadline is confirmed in the Income Tax Department's transition guidance, and the November 15 Form 131 deadline is also reported in its October 24 advisory.
