New TDS and TCS Return Forms in 2026: Form 138, 140, 144 and 143 Explained (Q2 Due 31 October)

The Income-tax Act, 2025 replaced the 1961 Act from 1 April 2026. If your business deducts TDS, the biggest visible change is the form numbers. The return for July–September 2026 is due on 31 October 2026, so this is a good time to check you are using the right ones.

Old form, new form

What it is	New form	Earlier form
Quarterly TDS return – salaries	Form 138	Form 24Q
Quarterly TDS return – other payments to residents	Form 140	Form 26Q
Quarterly TDS return – payments to non-residents	Form 144	Form 27Q
Quarterly TCS return	Form 143	Form 27EQ
Salary TDS certificate	Form 130	Form 16
Non-salary TDS certificate	Form 131	Form 16A

The 'assessment year' is gone too. Returns and certificates now refer to the tax year, which is the same as the financial year. TDS provisions sit in sections 392 to 394 of the new Act, so make sure your accounting software and returns use the updated payment codes.

Due dates (unchanged)

Quarter	Months	Return due by
Q1	April – June	31 July
Q2	July – September	31 October
Q3	October – December	31 January
Q4	January – March	31 May

TDS deducted in a month is normally deposited by the 7th of the next month (March deductions by 30 April). A late return costs ₹200 for every day of delay, and interest runs at 1% a month for late deduction and 1.5% a month for late deposit.

Common mistakes to avoid

• Wrong or missing PAN of the payee, which means a higher TDS rate and no credit for them
• Challan details that don't match the return
• Filing salary TDS in the wrong form (Form 138 is for salaries only)
• Issuing old-format certificates instead of Form 130 and Form 131

QTS handles TAN, monthly TDS working, quarterly returns, certificates and corrections for Chennai businesses. See TDS return filing in Chennai, or our payroll service if you also want salaries handled.

Need help? Call or WhatsApp QTS on 87789 49661, or book a ₹499 + GST expert consultation. Our Chennai head office is at 5/99, 2nd Floor, Kundrathur Main Road, Mowlivakkam, Porur, Chennai 600125 (Monday to Saturday, 9:30 AM – 7:00 PM).

ROC Annual Filing for FY 2025-26: AOC-4 and MGT-7 Due Dates for Chennai Companies

If your private limited company held its annual general meeting (AGM) on or before 30 September 2026, two ROC deadlines are now close: AOC-4 (financial statements) within 30 days of the AGM, and MGT-7 or MGT-7A (annual return) within 60 days. LLPs have Form 8 due by 30 October.

Due dates if your AGM was on 30 September 2026

Filing	Who files	Due by
ADT-1 (auditor appointment)	Companies appointing an auditor at the AGM	15 October 2026
AOC-4 (financial statements)	Private limited companies	30 October 2026
Form 8 (statement of account and solvency)	LLPs	30 October 2026
MGT-7 / MGT-7A (annual return)	Companies (MGT-7A for small companies and OPCs)	29 November 2026

If your AGM was earlier, count 30 days (AOC-4) and 60 days (MGT-7) from the AGM date. One Person Companies don't hold an AGM: they file AOC-4 within 180 days of the year end, and MGT-7A within 60 days of the date the AGM would have been due.

What late filing costs

Each form filed late attracts an additional fee of ₹100 for every day of delay. A company that misses its filings for three years in a row can see its directors disqualified. MCA extended the deadline for FY 2024-25 last year, but at the time of writing (October 2026) no extension has been announced for FY 2025-26, so plan to file on time.

Checklist before you file

• Accounts audited by a practising Chartered Accountant, with the audit report signed
• Board report and AGM notice, minutes and resolutions
• Shareholding and director details as on 31 March 2026
• A valid digital signature (DSC) of a director
• Director KYC up to date: from 31 March 2026 directors file DIR-3 KYC once every three financial years, and must update a new mobile number, email or address within 30 days

QTS prepares the books and schedules your auditor needs, drafts the AGM papers and files AOC-4, MGT-7/7A, ADT-1 and LLP Forms 8 and 11 for you. See ROC annual filing in Chennai.

Need help? Call or WhatsApp QTS on 87789 49661, or book a ₹499 + GST expert consultation. Our Chennai head office is at 5/99, 2nd Floor, Kundrathur Main Road, Mowlivakkam, Porur, Chennai 600125 (Monday to Saturday, 9:30 AM – 7:00 PM).

     PRIVATE LIMITED COMPANY REGISTRATION

Overview of Private Limited Company Registration Private limited

company registration in India refers to the legal process of incorporating a private limited company under the Companies Act, 2013. It is one of the most preferred business structures in the country, because it offers limited liability protection to its shareholders, a distinct legal identity, and perpetual succession. In India, the registration process is regulated by the Ministry of Corporate Affairs (MCA). As per Section 7 of the Companies Act, 2013, registration of a company requires filing of incorporation documents, including the Memorandum of Association (MOA) and Articles of Association (AOA), along with e-Form SPICE+ (INC-32) to the MCA. The Registrar of Companies (ROC) issues a Certificate of Incorporation once all formalities are fulfilled.

What is a Private Limited Company?

A private limited company is a business entity registered under the Companies Act, 2013, where ownership is restricted to a specific group of individuals, shares cannot be publicly traded, and the liability of the shareholders is limiti to the extent of the amount invested.

Features of a Private Limited Company

1.    Limited liability: 

                               Shareholders are liable only up to the value of their shares.  

2.   Minimum and maximum members: 

                           It requires a minimum of 2 shareholders and two directors, with a                                      maximum of 200 members.

3.    Eligible for investment: 

                            A private limited company can raise funds through private equity,                                      venture capital, and the issue of shares.

1.                                         4.    Name requirement: 

    The name of the company must end with “Private Limited” (e.g., ABC Technologies Private Limited                       

         5.    Mandatory registration: 

The company must be registered with the Ministry of Corporate Affairs (MCA) under the Companies Act, 2013.                  

6.   No minimum capital requirement:

 There is no mandatory minimum paid-up capital; the company can be incorporated with minimum capital.     

7.    Compliance requirement: 

 A private limited company must adhere to statutory obligations, including conducting regular board meetings, maintaining proper books of accounts, undergoing annual audits, and filing annual returns and financial statements with the Registrar of Companies.

                     Types of Private Limited Companies:

                              1.     Company Limited by Shares:

It is the most common type of private company. Shareholders’ liability is limited to the unpaid amount on their shares. Capital is divided into shares, and ownership is determined by shareholding.

                             2.Company Limited by Guarantee:

     In this structure, the liability of members is limited to the amount they agree to contribute in case of winding-up. The company is generally formed for non-profit objectives such as promoting arts, education, research, or charity.

             3.   Unlimited Company:

 In this structure, the members have unlimited liability for debts and obligations of the company. The structure is rarely chosen due to high financial risk.Legal Framework Governing Private Limited Company Registration A private limited company is governed by the following:

• Ministry of Corporate Affairs (MCA)

• Companies Act, 2013

• Companies (Incorporation) Rules, 2014

 • Registrar of Companies (ROC)

 • Companies (Appointment and Qualification of Directors) Rules, 2014

 • Income Tax Act, 1961

Why Should You Register a Private Limited Company?

    1.    liability protection: 

As a private limited company, the liability of its shareholders is restricted to the unpaid amount on their shares. This means that if the company faces financial distress or legal liabilities, the personal assets of the shareholders (directors or members) will not be at risk.

     2.   Separate legal entity:

A company is a juristic person in the eyes of the law. The legal entity of the company is distinct from its shareholders and directors. The company is capable of entering into contracts in its own name, and it can sue and be sued in its own name.

3.    Perpetual succession:

The existence of the company is independent of the existence of its shareholders or directors. Unlike a partnership or sole proprietorship, the private limited company enjoys perpetual succession, which means that the existence of the company is not affected by the death, insolvency, or retirement of any shareholder or director. This perpetual succession guarantees the continuity of the business even if one of the company's stakeholders' leaves. 

4.Easy transferability of shares: 

Registering a company in India offers easy transferability of shares, meaning that shares of the company can be transferred from one shareholder to another.

 5.    Access to investments and funding: 

Capital can be easily raised in a registered private limited company, as the company can easily issue Equity shares to raise funds. Tax Benefits of a Private Limited Company in India Private limited companies enjoy certain tax benefits in India, as provided under the Income Tax Act, 1961.

           

                                

Tax Benefits	Private Limited Company	Sole Proprietorship	Partnership Firms
Tax Rate on Profit	Only 25% for turnover up to ₹400 Crore and 30% for more	Depends upon the personal income tax bracket (10% - 30%)	Depends upon the personal income tax bracket (10% - 30%)
Tax Deductions for Expenses	Yes, on salaries, rent, and assets of the company	No tax deductions for personal income	No tax deductions for personal income
Depreciation on Assets	Yes, it reduces the taxable income	No tax deductions for personal income	Yes, it reduces taxable income
Dividends Tax	No tax on dividends shared with shareholders (since 2020)	Not applicable as the owner has sole right over the profit	Not applicable as profit is shared among the partners
Carry Forward of Losses	Yes, the company can carry forward losses to reduce future tax bills	Not available	Yes, the firm can carry forward losses to reduce future tax bills
GST Benefits	Yes, tax can be claimed back on business expenses	Not applicable unless and until it is specifically registered for GST	Yes, tax can be claimed back on business expenses

Documents Required for Registering a Private Limited Company in India

Identity proof of directors and shareholders

1. PAN Card - Mandatory for all Indian nationals
2. Passport - Mandatory for foreign nationals

Address proof of directors and shareholders

• Aadhaar Card
• Voter ID Card
• Driving License
• Passport
• Bank Statement (with recent transactions)
• Utility Bill (electricity, water, or gas bill

   Residential proof 

• Bank Statement with full residential address
• Rent Agreement (if applicable)

  Passport-size photographs

•       Recent color photograph of all directors and shareholders (JPEG or passport standard)

Registered office address proof

• Utility Bill - Electricity bill, gas bill, water bill, or property tax receipt (not older than 2 months)
• Ownership Document - If the property is owned by a director or shareholder (sale deed or title document)
• Rent Agreement - If the office is rented
• No Objection Certificate (NOC) - From the owner of the premises, permitting the company to use the address

               GST REGISTRATION

                                                 What is GST?

GST stands for Goods and Services Tax. It is a modern, indirect tax levied on the supply of goods and services.

                                             Who need to take Gst?

1. Who bears the cost? (The Consumer)

The end consumer is the one who "takes" the final hit. Since GST is an indirect tax, businesses don't pay it out of their own pockets; they pass the cost down the line.

2. Who is legally required to collect it? (The Business)

Not every shopkeeper has to "take" or collect GST. A business must register and collect GST only if they meet certain criteria.

Service Providers: If their yearly turnover (sales) is more than ₹20 Lakh.

Goods Suppliers: If their yearly turnover is more than ₹40 Lakh (in most states).

3. Who receives the money? (The Government)

Once the business collects the GST from you, they don't keep it. They "remit" (send) it to the government:

 CGST: Goes to the Central Government.

 SGST: Goes to your State Government.

                                                           Benefits of GST

Simplified Compliance: Instead of filing different returns for Excise, VAT, and Service Tax, businesses now deal with one single tax portal and one set of rules.

Input Tax Credit (ITC): Businesses can claim a refund on the taxes they paid to their suppliers. This keeps their working capital flowing and encourages them to buy from "clean," tax-paying vendors.

Ease of Logistics: Before GST, trucks spent hours at state borders paying "Entry Tax." With these taxes gone, goods move across the country much faster, reducing transport cost.

Services included 

  1.GST MONTHLY FILING

                                                  

In the GST (Goods and Services Tax) regime, monthly filing is the process where registered taxpayers submit details of their sales, purchases, and tax payments to the government every month

2.GST CANCELLATION

GST cancellation refers to the process where a GST registration is deactivated. Once cancelled, the person is no longer a registered taxpayer, meaning they cannot collect GST from customers or claim Input Tax Credit (ITC). Cancellation can happen in two ways: Voluntarily (by the taxpayer) or Compulsorily (by the Tax Officer).

 

3.REVOCATION

In the world of GST, revocation is essentially an "undo" button for a cancelled registration. It is the process by which a taxpayer requests the tax authorities to reactivate a GSTIN that was cancelled by a tax officer.

4.Amendment (Additional changes)

In GST terms, an Amendment is the process of updating or correcting the details registered with the GST portal. Since your business is a living entity—you might change offices, add new products, or change partners—the law requires you to keep your GST certificate updated.

5.ANNUAL RETURN

  In the GST framework, the Annual Return is a consolidated summary of all the monthly or quarterly returns you filed during a specific financial year. Think of it as a final "reconciliation" where you double-check your data and correct any minor errors made during the year. The primary form for this is GSTR-9.

6.E-WAY BILL 

An e-Way Bill (Electronic Waybill) is a digital document required under the GST regime for the movement of goods. It acts as a "compliance permit" to ensure that the goods being transported match the details reported in the GST system.

When is an e-Way Bill mandatory?

You must generate an e-Way Bill if you are moving goods in a vehicle and:

• The Value Exceeds ₹50,000: This applies to a single invoice or delivery challan.
• Inter-State Movement: Moving goods from one state to another.
• Intra-State Movement: Moving goods within the same state (though some states have higher limits, like ₹1 lakh, for internal movement).

Exceptions: An e-Way Bill is mandatory regardless of value for the inter-state movement of Handicraft goods or goods sent for Job Work.

Required Document Checklist: 

1. Personal Documents:

•   Aadhar Card 

•  PAN Card

• Passport Size Photograph 

2. Business & Contact Information: 

• Trade Name: Your preferred business name.

  and street.

• Business Address: Full address including door number

•  Landmark: A nearby recognizable landmark.

•  Contact Details: Primary Mobile Number and Email ID. 

3. Proof of Business Premises:

• If Rented:  Rental Agreement and a recent Electricity Bill.
• If Owned: Property Tax Receipt and a recent Electricity Bill. 

4. Site Verification: 

• GPS Photo: One geotagged photograph of the business entrance/premises.