Forms ‐ Frequently Asked Questions

What is Form No. 141? Which forms have been merged into the Form No. 141? How is reporting for different transactions structured in this form? Which schedules correspond to which erstwhile forms? Is the deductor required to fill all schedules in the consolidated form? Who is required to file the Form No. 141? Is TAN mandatory for filing Form No. 141? How does the deductor select the appropriate schedule? What transactions are to be reported in Schedule A? What transactions are to be reported in Schedule B? What transactions are to be reported in Schedule C? What transactions are to be reported in Schedule D? Can multiple schedules be used in a single form? Is a separate Form No. 141 required for each transaction of same nature? How should transactions involving multiple sellers or buyers be reported? What is the due date for filing Form No. 141? How is payment of tax made under Form No. 141? What happens after payment is made successfully? Can the Form No. 141 be revised? What happens if deductee PAN is invalid or incorrect? Is late fees applicable for delayed filing? Is interest applicable for late deduction or payment? Will TDS certificates continue to be issued? What are the threshold limits for different nature of payments in Form No. 141? What will be the applicability of Form No. 141? Can an authorised representative file the consolidated form? What proof will deductor have after submission of this form? You need to login to view the answer
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