If you think tax filing is something to worry about only in July, it might be time to rethink. The new financial year has just begun, and the tax calendar is already packed with important deadlines. Miss a date, and you could end up paying penalties or scrambling at the last minute.
THE FINANCIAL YEAR STARTS WITH EARLY DEADLINES
Tax-related work begins right from April. By April 14, taxpayers and entities must issue TDS certificates for certain transactions and file foreign remittance statements.
Then comes April 30, which is an important date. This is the last day for non-government deductors to deposit TDS and TCS for March. Government offices also need to file Form 24G by this date, while declarations like Form 15G and 15H must be submitted.
MAY KEEPS TAXPAYERS BUSY
The pace does not slow down in May. By May 7, TDS and TCS for April must be deposited. This is followed by May 15, when TDS certificates for specific transactions and TCS quarterly statements need to be issued.
Another important date is May 30, when TCS certificates for the last quarter of FY 2025–26 must be submitted, along with certain business transaction disclosures.
Finally, May 31 brings several annual reporting requirements, including financial transaction reporting under Form 61A, donation disclosures, and filings by financial institutions.
JUNE BRINGS ADVANCE TAX INTO FOCUS
June is an important month, especially for salaried individuals and investors. By June 7, TDS and TCS for May must be deposited.
The key date here is June 15, which marks the first instalment of advance tax for FY27. On the same day, TDS certificates for salary and non-salary payments are also to be issued.
By June 30, taxpayers and institutions must complete reporting related to investment funds, securities transactions and TDS filings.
JULY IS THE BIG MONTH FOR ITR FILING
For most individuals, July 31 is the most important date. This is the deadline to file your Income Tax Return (ITR) if you are a salaried or non-audited taxpayer.
Any pending tax liability must also be cleared before filing the return, to avoid interest or penalties.
KEY DEADLINES LATER IN THE YEAR
Tax obligations continue well beyond July. The second instalment of advance tax is due on September 15, followed by the audit-based ITR filing deadline on October 31.
For those with transfer pricing requirements, November 30 is the final date to submit reports.
The third advance tax instalment is due on December 15, while December is the last date to file belated or revised returns for the assessment year.
CLOSING THE YEAR ON TIME
As the financial year nears its end, January and February are usually spent on tax planning and submitting investment proofs to employers.
The final advance tax instalment must be paid bMarch, ensuring that the total tax liability is fully covered.
The year ends on March 31, which is also the last date to make tax-saving investments under the old tax regime and complete any pending filings for earlier years.
Staying organised makes all the difference
The tax calendar may seem long, but staying aware of these dates can make things much simpler. Instead of rushing at the last minute, spreading out your compliance and investments across the year can help you avoid stress—and penalties.
In the end, a little planning goes a long way in keeping your finances in order.
