Income Tax 25 September 2026
CBDT Launches New Form 141 to Ease TDS on Non‑Resident Property Purchases
The Central Board of Direct Taxes (CBDT) has introduced Form 141 and Schedule E to simplify tax deducted at source (TDS) compliance for property acquisitions by non‑residents. Effective from October 1, 2026, the new forms replace the earlier cumbersome process, aiming to reduce filing errors and speed up refunds. The amendment comes under the Income‑tax (Fifth Amendment) Rules, 2026, and applies to all real‑estate transactions involving foreign buyers.
The CBDR has rolled out Form 141 and Schedule E to streamline TDS on property deals involving non‑resident buyers.
- Effective date: 1 Oct 2026 under the Income‑tax (Fifth Amendment) Rules, 2026.
- Goal: Reduce paperwork, lower compliance errors, and accelerate refunds for foreign investors.
- Impact: All sellers must use the new forms when deducting tax on payments to non‑resident purchasers.
Read the full announcement on Business Today.
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