Income Tax Deadlines FY27: ITR, TDS certificates — Key dates

The financial year FY 2026-27 has already begun, and taxpayers now need to track a series of income tax deadlines that go well beyond the July 31 ITR filing date. From monthly TDS and TCS deposits to advance tax instalments and statutory reporting, the compliance calendar remains active throughout the year. Missing any of these deadlines can lead to penalties, interest or notices. For salaried individuals, businesses and investors, staying aligned with the full tax calendar is essential to ensure smooth compliance and better financial planning.

ITR is only one part

While July 31 is the most widely tracked deadline, income tax compliance is not limited to filing returns. Taxpayers must also ensure timely TDS and TCS payments, issuance of certificates, advance tax payments and periodic disclosures.

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Missing any of these obligations can result in additional costs and compliance issues, making year-round tracking important.

April-May key deadlines

The financial year begins with several important compliance requirements, especially for deductors.

By April 30, TDS and TCS for March must be deposited, along with filings such as Form 15G and 15H and challan-cum-statements. April also includes issuance of TDS certificates for specified transactions.

In May, taxpayers must continue with regular TDS/TCS deposits, issuance of certificates, quarterly TCS filings and financial transaction reporting. Key deadlines fall on May 7, May 15 and May 31.

June: Form 16, advance tax

June is a critical month for both salaried individuals and businesses.

TDS certificates, including Form 16, are typically issued by June 15. The same date is also the deadline for the first advance tax instalment, where taxpayers must pay 15 per cent of their estimated annual tax liability.

Additional compliance includes TDS deposits, reporting by investment funds and filing of relevant statements.

July 31: ITR deadline

July 31 is the due date for filing Income Tax Returns for FY 2025-26 (AY 2026-27) for salaried individuals and taxpayers not subject to audit.

Taxpayers must clear any self-assessment tax liability before filing to avoid interest or penalties. Filing within the deadline also ensures faster processing of returns.

Advance tax schedule

Advance tax is payable in four instalments during the financial year.

The due dates are June 15 (15 per cent), September 15 (45 per cent cumulative), December 15 (75 per cent cumulative) and March 15 (100 per cent). Delayed payments may attract interest under applicable provisions.

October-November deadlines

Taxpayers whose accounts require audit must file their ITR by October 31.

In addition, November 30 is the deadline for filing transfer pricing reports and completing related compliance requirements where applicable.

December 31

Taxpayers who miss earlier deadlines can still file a belated return or revise their ITR until December 31.

After this date, the opportunity to file or correct returns closes, and penalties become unavoidable.

January-March 2027

The final quarter of the financial year is crucial for tax planning.

Taxpayers must complete tax-saving investments, submit proofs to employers and ensure that advance tax is fully paid by March 15. March 31 is the last date to make eligible investments under the old tax regime.