Income Tax Compliance Calendar FY 2026-27

All Key Deadlines for ITR, TDS, Advance Tax and More

Most taxpayers in India track only one date in the income tax calendar: July 31, the last date to file their ITR. But income tax compliance does not begin or end on that date. Throughout the financial year, there are monthly TDS deposit deadlines, quarterly TDS return filings, four advance tax instalments, and several annual reporting obligations. Missing any of these dates attracts interest, penalties, or both.

This article sets out a complete month-wise income tax compliance calendar for FY 2026-27 (Tax Year 2026-27 under the Income Tax Act, 2025), covering every key deadline that individual taxpayers, salaried employees, business owners, and deductors need to track.

Note: Under the Income Tax Act, 2025 (which replaces the Income Tax Act, 1961 with effect from 1 April 2026), the term “Tax Year” replaces “Financial Year” and “Assessment Year.” Tax Year 2026-27 covers 1 April 2026 to 31 March 2027.

Section number note: The Income Tax Act, 2025 has renumbered all sections. This article uses familiar old section numbers alongside new equivalents. Key equivalents: Section 234A = Section 423, Section 234B = Section 424, Section 234C = Section 425, Section 234F = Section 446, Section 234E = Section 444.

1. Advance Tax Payment Deadlines

Advance tax applies to any taxpayer whose estimated tax liability for the year exceeds Rs. 10,000 after accounting for TDS. Salaried individuals whose employer deducts adequate TDS are generally exempt. Self-employed individuals, freelancers, business owners, and those with capital gains, rental income, or significant interest income must pay advance tax in four instalments.

• Special rule for presumptive taxpayers (Sections 44AD, 44ADA, 44AE): Entire advance tax in a single instalment by 15 March 2027.
• Senior citizens (60 years and above) without business or profession income are fully exempt from advance tax.
• Section 234B / Section 424: 1% per month on the shortfall if less than 90% of tax liability is paid by 31 March.
• Section 234C / Section 425: 1% per month on each instalment shortfall.

2. TDS Deposit Deadlines

Any person or entity required to deduct TDS must deposit the deducted amount to the government by the 7th of the following month.

• Exception for March: TDS deducted in March can be deposited by 30 April (not 7 April).
• Government deductors without a government account must deposit TDS on the same day of deduction.
• Late TDS payment attracts interest at 1.5% per month under Section 201(1A).

3. Quarterly TDS Return Filing Deadlines

Deductors must file quarterly TDS returns summarising all deductions and deposits made during each quarter.

• Form 24Q: Salary TDS
• Form 26Q: Non-salary domestic TDS
• Form 27Q: TDS on payments to non-residents

Late filing of TDS returns attracts Rs. 200 per day under Section 234E / Section 444, subject to a maximum of the total TDS amount. Section 271H may apply additionally after 1 year (Rs. 10,000 to Rs. 1,00,000).

4. TDS Certificate Issuance Deadlines

Form 16 is the document salaried employees use to file their ITR. Employers must issue it by 15 June each year. If you receive salary from multiple employers, you need Form 16 from each separately.

5. ITR Filing Deadlines

These are standard statutory deadlines. CBDT may extend specific deadlines through official circulars.

• Budget 2026: Deadline for belated and revised returns extended from 31 December to 31 March of the assessment year. Late fee is not waived.
• Late fee under Section 234F / Section 446: Rs. 5,000 (Rs. 1,000 if total income does not exceed Rs. 5 lakh).

6. Audit Report Deadlines

The audit report must be filed before the ITR for audit cases. If the audit report is not filed on time, the ITR cannot be filed validly.

7. Statement of Financial Transactions (SFT)

Specified entities (banks, mutual funds, registrars, NBFCs, post offices) must file SFT in Form 61A by 31 May 2027 for Tax Year 2026-27.

High-value transactions that appear in AIS include:

• Cash deposits above Rs. 10 lakhs in a savings account in a year
• Credit card payments above Rs. 1 lakh (cash) or Rs. 10 lakhs (other modes)
• Purchase of mutual funds above Rs. 10 lakhs
• Purchase of foreign currency above Rs. 10 lakhs
• Purchase or sale of immovable property above Rs. 30 lakhs

8. Complete Month-Wise Compliance Summary

APRIL 2026

• 7 April: TDS deposit for March 2025-26 (extended to 30 April for March deductions)
• 30 April: Final deadline for March 2025-26 TDS deposit
• 30 April: Challan-cum-statement for TDS under Sections 194-IA, 194-IB, 194M, 194S (March quarter)

MAY 2026

• 7 May: TDS/TCS deposit for April 2026
• 15 May: TCS return filing for Q4 (January to March 2026) in Form 27EQ
• 15 May: Form 27D (TCS certificate) issuance for Q4 to deductees
• 31 May: TDS return filing for Q4 in Form 24Q, 26Q, 27Q
• 31 May: SFT filing (Form 61A) for FY 2025-26

JUNE 2026

• 7 June: TDS/TCS deposit for May 2026
• 15 June: First advance tax instalment for Tax Year 2026-27 (at least 15% of estimated tax)
• 15 June: Form 16 issuance by employers for FY 2025-26 salary (previous year)
• 15 June: Form 16A for Q4 TDS (non-salary, FY 2025-26) – due 15 days after Q4 TDS return filed by 31 May
• 30 June: Form 3BB filing by stock exchanges for modified client codes

JULY 2026

• 7 July: TDS/TCS deposit for June 2026
• 31 July: TDS/TCS return for Q1 (April to June 2026) in Form 24Q, 26Q, 27Q, 27EQ
• 31 July: ITR filing deadline for FY 2025-26 (previous year) for non-audit taxpayers

AUGUST 2026

• 7 August: TDS/TCS deposit for July 2026
• 15 August: TDS certificate (Form 16A) for Q1

SEPTEMBER 2026

• 7 September: TDS/TCS deposit for August 2026
• 15 September: Second advance tax instalment (cumulative 45% of estimated tax)
• 30 September: Tax audit report due date (Form 3CA/3CB + 3CD) for audit cases

OCTOBER 2026

• 7 October: TDS/TCS deposit for September 2026
• 31 October: TDS/TCS return for Q2 (July to September 2026)
• 31 October: ITR filing for audit cases (companies, LLPs, audit-required businesses)
• 31 October: Form 3CEB (transfer pricing audit report)

NOVEMBER 2026

• 7 November: TDS/TCS deposit for October 2026
• 15 November: Form 16A for Q2 TDS (non-salary) – due 15 days after Q2 TDS return filed by 31 October
• 30 November: ITR filing for transfer pricing cases

DECEMBER 2026

• 7 December: TDS/TCS deposit for November 2026
• 15 December: Third advance tax instalment (cumulative 75% of estimated tax)

JANUARY 2027

• 7 January: TDS/TCS deposit for December 2026
• 31 January: TDS/TCS return for Q3 (October to December 2026)

FEBRUARY 2027

• 7 February: TDS/TCS deposit for January 2027
• 15 February: Form 16A for Q3 TDS (non-salary) – due 15 days after Q3 TDS return filed by 31 January

MARCH 2027

• 7 March: TDS/TCS deposit for February 2027
• 15 March: Fourth and final advance tax instalment (100% of estimated tax)
• 15 March: Advance tax (full) for presumptive taxpayers (Sections 44AD, 44ADA, 44AE)
• 31 March: Deadline for filing belated or revised ITR for Tax Year 2025-26 (FY 2025-26)

9. Key Penalties at a Glance

Conclusion

Staying compliant with income tax deadlines throughout the year is more important than most taxpayers realise. The cost of missing even one TDS deposit or advance tax instalment compounds quickly through interest charges. The best approach is to mark all quarterly and monthly deadlines at the start of the financial year and set calendar reminders at least three days in advance.

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About the Author: Diksha Chawla is the founder of FinLecture (finlecture.in), an Indian personal finance and income tax education platform. FinLecture publishes practitioner-led guides on income tax filing, GST compliance, and financial planning for individuals and small businesses in India.