Now Reading: TDS statements now filed directly through TRACES portal from tax year 2026-27
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TDS statements now filed directly through TRACES portal from tax year 2026-27
TDS statements now filed directly through TRACES portal from tax year 2026-27
From Tax Year 2026-27, which began on 1 April 2026, TDS and TCS statements can be filed directly online through the TRACES portal, eliminating the earlier two-step process of filing through the Income Tax portal and waiting for transfer. The change aligns with the new Income-tax Act, 2025 and Rules, 2026, and deductors now have a separate compliance environment on TRACES, according to Siddharth Maurya, Managing Director of Vibhvangal Anukulara.
Four new quarterly forms have replaced the earlier ones: Form 138 (salaries, replacing 24Q), Form 140 (non-salary payments to residents, replacing 26Q), Form 144 (payments to non-residents, replacing 27Q), and Form 143 (TCS, replacing 27EQ). Filing deadlines remain unchanged, with the July to September 2026 quarter statement due by 31 October 2026. Deductors must log in, select the relevant form and quarter, reconcile challans, and complete e-verification using Aadhaar OTP or other methods.
Indian Opinion Analysis
The shift to direct online filing on TRACES removes a two-step process that caused delays in TDS credit reflection for taxpayers. Deductors now face a new set of forms and a separate compliance environment, creating an immediate learning curve for payroll teams and tax practitioners. The real test of the system comes with the 31 October 2026 deadline for the July to September 2026 quarter statements. Whether the TRACES portal handles the filing volume without technical glitches will determine if this streamlining actually reduces compliance friction or merely relocates it.
Source: livemint.com
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