New Delhi, Oct. 23 -- The Income-tax Act, 2025, which came into effect on April 1, 2026, introduces changes to how taxpayers report tax deducted at source (TDS).

One such change is Form No. 141, which consolidates the reporting and payment requirements for several specified transactions into a single form, replacing the need to use multiple forms for these purposes.

Applicable to transactions from Tax Year 2026-27 onwards, Form 141 covers specified payments involving property purchases, rent, contractor and professional fees, and virtual digital assets (VDAs). Here's what you need to know.

Form 141 is a unified form for reporting and paying TDS on specified transactions. It replaces four earlier forms:

Instead of submitting a separate...