Other BriefingsIncome Tax June 2026 Compliance Calendar: ITR Guide for Employers
Filing income tax returns remains a key compliance requirement for eligible individuals and businesses. Understand the latest income tax return (ITR) filing requirements and key updates applicable for June 2026 under the Income-tax Act, 2025, and Income-tax Rules, 2026.
India’s Income Tax Department prescribes specific compliance deadlines each month for different categories of taxpayers, including return filing, tax payments, certificates, and financial disclosures. Although the new Income-tax Act, 2025, effective from April 1, has replaced the term “financial year” with “tax year,” the core tax filing and compliance obligations remain largely unchanged.
Individuals and businesses must meet these statutory deadlines to avoid penalties, interest liabilities, and regulatory scrutiny. Below are the key income tax return (ITR) and compliance obligations applicable for June 2026.
CHECK OUT: India’s Tax Compliance Deadlines for April & May 2026
Key income tax obligations for June 2026
June 2026 includes several important income tax compliance deadlines for businesses, investors, employers, and financial entities in India. Major obligations during the month include the following:
- Tax deducted at source (TDS) and tax collected at source (TCS) deposits
- Advance tax payments
- Issuance of Form 16 and TDS certificates
- Investment fund reporting
- Indirect transfer disclosures
- Annual filings for trusts and AIFs
|
ITR Compliance Deadlines – June 2026 |
|||
|
Due date |
Compliance area |
Key requirement |
Applicability |
|
June 7 |
TDS/TCS |
Deposit of TDS/TCS deducted or collected during May 2026 |
Businesses, deductors, collectors |
|
June 7 |
TCS declaration |
Submission of declaration for purchase of goods without TCS collection under Section 394(2) |
Eligible buyers |
|
June 14 |
TDS certificate |
Issuance of TDS certificates for specified transactions under Section 393(1) |
Deductors |
|
June 15 |
Form 16 |
Issuance of salary TDS certificates for FY 2025–26 |
Employers |
|
June 15 |
Advance tax |
Payment of first advance tax installment for TY 2026–27 |
Eligible taxpayers |
|
June 15 |
Quarterly TDS certificate |
Issuance of TDS certificates for non-salary payments for quarter ending March 2026 |
Deductors |
|
June 15 |
Investment fund reporting |
Statement of income credited to unit holders |
Investment funds |
|
June 15 |
Securitization trust reporting |
Statement of income distributed to investors |
Securitization trusts |
|
June 29 |
Indirect transfer reporting |
Electronic reporting of specified foreign share transfer transactions |
Relevant entities |
|
June 29 |
Form 173 (previously known as Form 3CEK) filing |
E-filing of Form 173 for FY 2025–26 activities |
Eligible investment funds |
|
June 30 |
AIF reporting |
Statement of income distributed to investors |
Alternative Investment Funds (AIFs) |
|
June 30 |
STT return |
Annual Securities Transaction Tax return for FY 2025–26 |
Applicable entities |
|
June 30 |
Annual securitization statement |
Annual reporting of income distributed during FY 2025-26 |
Securitization trusts |
|
June 30 |
TDS challan-cum-statement |
Filing of challan-cum-statement for specified TDS deductions |
Specified taxpayers |
|
June 30 |
Section 35D statement |
Submission of statement for preliminary expense deductions |
Eligible taxpayers |
Advance tax filing in India
India’s advance tax system operates on a “pay-as-you-earn” basis, requiring taxpayers to pay income tax during the same tax year in which income is earned rather than making a lump-sum payment at the time of filing returns. The framework is governed under Sections 403 to 410 of the Income-tax Act, 2025.
Taxpayers must estimate their annual taxable income and corresponding tax liability at the beginning of the year. If the estimated tax payable exceeds INR 10,000 after accounting for TDS, advance tax must be paid in scheduled installments during the year. The provisions apply to businesses, professionals, freelancers, investors, and salaried individuals.
For Tax Year 2026-27, the first advance tax installment is due on June 15, 2026, with taxpayers required to pay 15 percent of their estimated annual tax liability.
Frequently Asked Questions (FAQs): ITR filings in June 2026
Q. Has the Income-tax Act, 2025, changed the ITR filing process in India?
The new law has introduced structural and compliance-related changes, but the overall ITR filing framework and major filing obligations remain broadly similar.
Q. What is the difference between “financial year” and “tax year” under the new tax law?
Under the Income-tax Act, 2025, the term “financial year” has been replaced with “tax year” to simplify tax reporting terminology.
Q. Who is liable to pay advance tax in India for Tax Year 2026-27?
Any taxpayer whose estimated tax liability exceeds INR 10,000 after adjusting TDS must pay advance tax.
Q. Are salaried individuals also required to pay advance tax?
Yes. Salaried individuals must pay advance tax if their remaining tax liability exceeds INR 10,000 after TDS deductions.
Q. Which taxpayers are exempt from advance tax provisions?
Senior citizens aged 60 years or above without business or professional income are exempt from advance tax requirements.
Q. What are the penalties and interest implications for missing advance tax deadlines?
Delayed or insufficient advance tax payments may attract interest and penalties under the provisions of the Income-tax Act, 2025.
Q. When must employers issue Form 16 for FY 2025-26?
Employers must issue Form 16 to employees by June 15, 2026.
Q. What is indirect transfer reporting, and which foreign investors are covered?
Indirect transfer reporting applies to offshore transactions involving shares or interests in foreign entities deriving substantial value from assets located in India.
Q. What isIncome Tax Form 173 and who is required to file it?
Form 173 (previously known as Form 3CEK under Income-tax Rules, 1962) under the Income-tax Rules, 2026, is a compliance filing required from eligible investment funds reporting activities carried out during FY 2025–26.
Q. What are the consequences of non-compliance with June 2026 ITR and tax reporting deadlines?
Failure to comply may result in penalties, interest liabilities, delayed refunds, and increased regulatory scrutiny from tax authorities.
Stay compliant with India’s ITR filings in Tax Year 2026-27
As India implements the Income-tax Act, 2025, businesses and investors must adapt to updated tax filing procedures, revised reporting obligations, and new compliance frameworks. Dezan Shira & Associates assists companies with ITR filings, advance tax planning, TDS/TCS compliance, and ongoing tax advisory support across India.
Connect with our India tax advisory team → India@dezshira.com
Navigating accounting and compliance requirements in India can be complex and time consuming. Engaging professional support helps businesses manage risks, stay compliant, and focus on growth with confidence.
About Us
India Briefing is one of five regional publications under the Asia Briefing brand. It is supported by Dezan Shira & Associates, a pan-Asia, multi-disciplinary professional services firm that assists foreign investors throughout Asia, including through offices in Delhi, Mumbai, and Bengaluru in India. Dezan Shira & Associates also maintains offices or has alliance partners assisting foreign investors in China, Hong Kong SAR, Vietnam, Indonesia, Singapore, Malaysia, Mongolia, Dubai (UAE), Japan, South Korea, Nepal, The Philippines, Sri Lanka, Thailand, Italy, Germany, Bangladesh, Australia, United States, and United Kingdom and Ireland.
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