New Delhi, July 19 -- Businesses and other tax deductors filing their first-quarter TDS and TCS returns for Tax Year (TY) 2026-27 will have to comply with a new reporting framework under the Income-tax Act, 2025. The due date for filing the Q1 quarterly statements is July 31, 2026, but this year's filing comes with significant procedural changes, including new return forms and revised section codes.

The Income Tax Department has already enabled the new quarterly forms on the e-filing portal, marking the transition from the Income-tax Act, 1961 to the new legislation that came into force on April 1, 2026.

The biggest change is the replacement of the existing quarterly return forms.

Under the new framework:

The due date for filing these...