The Income-tax Act, 2025 (ITA 2025) has been notified and made applicable with effect from 1 April 2026, along with the Income-tax Rules, 2026, thereby introducing the new direct tax framework governing compliances arising on or after the said date.
The deadline for filing Income Tax Returns (ITR) for FY 2025–2026 is July 31, 2026, although the important income tax deadlines for salaried employees in May 2026 focused on TDS compliance for April. May 7 for the deposit of April TDS/TCS and May 31 for the release of quarterly TCS certificates make up important dates in May 2026.
Deadlines for TDS /TCS deposits, TDS certificates and Form 24G , Advance Tax payments are fast approaching in the month of May and whether you’re a salaried individual, a business owner, or a finance professional, missing these dates can attract interest, penalties, and compliance complications.
Accordingly, all compliance obligations commencing from 1 April 2026 shall be regulated under the provisions of the ITA 2025 read with the Income-tax Rules, 2026. As per CA (Dr.) Suresh Surana, however, compliances relating to the financial year ending 31 March 2026 shall continue to be governed by the provisions of the Income-tax Act, 1961 read with the Income-tax Rules, 1962.
In light of the above transition, the compliance calendar has been appropriately segregated to distinctly capture obligations under both legislative frameworks for ease of reference and administration.
Income-tax compliance dates in May 2026 for FY 25-26
| Sr.No. | Particulars | Due Date |
| 1 | Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB, 194M (Income-tax Act, 1961) in the month of March, 2026 | 15th May 2026 |
| 2 | Quarterly statement of TCS deposited for the quarter ending March 31, 2026 | 15th May 2026 |
| 3 | Due date for furnishing of Form 24G (Income-tax Rules, 1962) by an office of the Government where TDS/TCS for the month of April 2026 has been paid without the production of a challan | 15th May 2026 |
| 4 | Issue of TCS certificates for the 4th Quarter of the Financial Year 2025-26 | 30th May 2026 |
| 6 | Quarterly statement of TDS deposited for the quarter ending March 31, 2026 | 31st May 2026 |
| 7 | Certificate of donation in Form no. 10BE (Income-tax Rules, 1962) as referred to in Section 80G(5)(ix) or Section 35(1A)(ii) (Income-tax Act 1961) to the donor specifying the amount of donation received during the financial year 2025-26. | 31st May 2026 |
| 8 | Due date for furnishing of statement of financial transaction (in Form No. 61A) as required to be furnished under sub-section (1) of section 285BA (Income-tax Act, 1961) with respect to the financial year 2025-26 | 31st May 2026 |
| 9 | Statement of donation in Form 10BD (Income-tax Rules, 1962) to be furnished by reporting person under Section 80G(5)(iii) or section 35(1A)(i) (Income-tax Act 1961) in respect of the financial year 2025-26 | 31st May 2026 |
| 10 | Application in Form 9A (Income-tax Rules, 1962) for exercising the option available under Explanation to Section 11(1) (Income-tax Act 1961) to apply income of previous year in the next year or in future (if the assessee is required to submit return of income on or before July 31, 2026) | 31st May 2026 |
| 11 | Statement in Form no. 10 (Income-tax Rules, 1962) to be furnished to accumulate income for future application under Section 10(21) or Section 11(1) (Income-tax Act 1961) (if the assessee is required to submit return of income on or before July 31, 2026) | 31st May 2026 |
Income-tax Compliance Calendar in May 2026 for FY 26-27
| Sr. No. | Particulars | Due Date |
| 1 | Due date for deposit of Tax deducted/collected for the month of April, 2026 | 7th May 2026 |
| 2 | Declaration under section 394(2) of the Income-tax Act 2025 to be made by a buyer for obtaining goods without collection of tax in the month of April, 2026 | 7th May 2026 |
| 3 | Challan-cum-statement of deduction of tax under section 393(1) of the Income-tax Act 2025 [Table Sl. No. 2(i), 3(i), 6(ii) & 8(vi) in the month of April, 2026 | 30th May 2026 |
Disclaimer: This article is for informational purposes only and does not constitute professional tax advice. Tax laws and regimes are subject to frequent changes by the government. The views and opinions expressed by the individuals quoted herein, if any, are their own and do not necessarily reflect the views of the publication. Readers should verify details with official Income Tax Department notifications or consult a Chartered Accountant before making any financial decisions. Financial Express is not responsible for any decisions made based on this information.