Government rolls out renumbered TDS/TCS forms April 1 2026
Starting April 1, 2026, the government is rolling out new TDS and TCS forms as part of updated income tax rules.
The forms are getting fresh numbers, like Form 24Q for salaries will now be Form 138, and Form 26Q for non-salary payments becomes Form 140, so expect a bit of a shake-up if you deal with taxes.
Simpler forms, TCS cut to 2%
These revamped forms are meant to make life easier by cutting out unnecessary fields and adding auto-fill features.
For anyone buying property from NRIs, things get simpler: you can use your PAN for TDS instead of needing a separate TAN.
Plus, spending on foreign tours or sending money abroad for studies or medical reasons just got less taxing. For foreign tours, TCS is now a flat 2%, and TCS on education and medical remittances has also been reduced to 2%, which means less upfront cash stuck in taxes.