The Income Tax Department has enabled Forms 121, 138, 140, 143 and 144 on the e-filing portal under the Income-tax Act, 2025.
Why MSMEs Should Care
- New form numbers replace familiar TDS/TCS forms (e.g., 24Q → 138, 26Q → 140, 27EQ → 143, 27Q → 144, 15G/15H → 121).
- Payroll, TDS, TCS, and compliance processes should be updated.
- Businesses should ensure accounting software and ERP systems are aligned with the revised forms before quarterly filings.
MSME Takeaway: There is no new compliance obligation, but MSMEs must adopt the new statutory form numbers and use them for quarterly filings under the Income-tax Act, 2025.
Source: Income Tax Department
