IMPORTANT INCOME TAX FORMS

Form No. 132 is a TDS certificate issued for tax deducted at source on specific

transactions involving payment of rent, transfer of immovable property, technical

services, or transfer of Virtual Digital Assets (VDA). Form 132 has been created after

merging four forms, viz. Forms 16B,16C,16D & 16E, into one.

Form 132 is to be issued by any person (deductor) who has deducted and deposited

TDS in respect of following payments:

a) Payment of rent under section 393(1) [Table Sl. No. 2(i)]

b) Transfer of immovable property under section 393(1) [Table Sl. No. 3(i)]

c) Payment by way of commission/brokerage or fee for technical services or in

pursuance of a contract under section 393(1) [Table Sl. No. 6(ii)]

d) Transfer of VDA under section 393(1) [Table Sl. No. 8(vi)].

Yes. Deductor is mandatorily required to issue Form No. 132, once tax has been

deducted and deposited.

The form is issued to the deductee to serve as proof of tax deducted and deposited with

the Central Government, on his behalf, by the deductor. It enables the deductee to claim

TDS credit at the time of filing the ITR.

No. The challan-cum-statement in Form No. 141 must be filed and processed for the

certificate to be generated.

No. The deductor must mandatorily download it from the TRACES website and provide

it to the deductee after signing it digitally or manually. A certificate prepared through

any other mode will not be a legal or valid TDS certificate.

Form No. 132 must be issued within 15 days from the due date for furnishing the

challan-cum-statement in Form No. 141.

Yes. If an error is found, the deductor must first file a correction statement in Form No.

141. After successful processing, a revised Form No. 132 can be generated.

Yes. Form No. 132 is a valid and legally recognized TDS certificate under the Income-

tax Act, 2025, and is accepted for assessment, reconciliation, and credit purposes.