As the new financial year 2026–27 begins, taxpayers need to stay alert about important income tax deadlines.
Missing these dates can lead to penalties, extra charges, or last-minute stress.
From TDS payments to income tax return (ITR) filing, the year is packed with key deadlines for individuals, businesses, and institutions.
Here’s a simple, easy-to-follow breakdown to help you stay on track.
April to June: Start Strong with Early Compliance
The financial year begins with several important compliance tasks.
In April, taxpayers need to complete TDS/TCS payments for March, submit forms like 15G/15H, and handle related filings.
In May, regular monthly TDS payments continue, along with issuing TDS/TCS certificates and reporting financial transactions.
It’s also the time for annual reports like Form 61A and donation disclosures.
By June, things get more important. Apart from TDS payments, the first instalment of advance tax is due by June 15. Missing this can lead to interest charges.
This early phase sets the tone for the rest of the year, so timely action here is crucial.
July to September: Key ITR and Advance Tax Deadlines
This period includes some of the most important deadlines for taxpayers.
July 31 is the last date to file Income Tax Returns (ITR) for individuals who do not require an audit. If you have any pending tax, it should also be paid before filing.
In September, the second instalment of advance tax is due.
By this time, you should have paid 45% of your total tax liability.
Staying updated during this phase helps avoid late fees and ensures smooth compliance.
October to December: Audit Filings and Final Corrections
For those whose accounts require auditing, October 31 is the deadline to file ITR.
In November, businesses dealing with international transactions must submit transfer pricing reports.
December is another critical month. By December 15, the third instalment of advance tax (75% of total tax) must be paid.
Also, December 31 is the last chance to file belated or revised returns for the previous assessment year.
January to March: Final Tax Planning Window
The last quarter of the financial year is all about tax planning and final payments.
During January and February, taxpayers should focus on making tax-saving investments and submitting proof to employers for correct TDS deductions.
By March 15, the final advance tax instalment must be paid, completing 100% of your tax liability.
Finally, March 31 is the last date to invest in tax-saving instruments under the old tax regime and to complete any pending filings for earlier years.
Why Tracking These Dates Matters
Keeping track of these deadlines helps you avoid penalties, manage your finances better, and reduce last-minute pressure.
A well-planned approach throughout the year not only ensures compliance but also helps you make smarter tax-saving decisions.
Staying organised is the key to a stress-free tax year.
