Tax Calendar for Salaried Employees — FY 2025-26 (Month-by-Month)

Nobody tells you this when you join your first job — taxes are not a once-a-year thing in India. There's a timeline to follow every month. Missing a deadline costs you money (interest, penalty, or higher TDS). This is the calendar you should bookmark.

April — The Month Everything Starts

Why April matters most: Your employer uses your Form 12BB declaration to compute TDS for all 12 months. Getting it right in April = correct TDS every month = no March surprise.

To-do checklist for April:

• ✅ Decide Old Regime vs New Regime
• ✅ Submit Form 12BB with HRA rent details, planned 80C investments
• ✅ Submit Form 15G/15H to all banks where you have FDs
• ✅ Start SIP for the new FY
• ✅ Make PPF contribution for FY 2025-26 (₹500 minimum by March 31, 2026)

May — First Quarter Wrap-up

June — Advance Tax First Instalment

Who needs to pay advance tax?

Salaried employees whose tax is fully covered by employer TDS — generally not required.

You need to pay advance tax if you have income BEYOND salary:

• Rental income not covered by TDS
• Capital gains from MF/shares sold this year
• Business/professional income (freelancers)
• Bank FD interest above threshold (if you didn't submit Form 15G/15H)
• Dividend income

First instalment: 15% of estimated total tax for the year

How to pay: incometax.gov.in → e-Pay Tax → Challan 280 → Advance Tax (Code 100)

July — ITR Filing Month

July 31 is the single most important tax deadline for salaried employees.

What to do in July:

• ✅ Collect Form 16 from employer (should have been issued by June 15)
• ✅ Check AIS and Form 26AS on income tax portal
• ✅ Reconcile salary, FD interest, dividends, capital gains
• ✅ File ITR-1 (or ITR-2 if you have capital gains / multiple properties)
• ✅ E-verify ITR within 30 days of filing (else return is invalid)

Penalty for missing July 31:

• Belated return can be filed until December 31, 2026
• Late filing fee: ₹1,000 (income < ₹5L) or ₹5,000 (income > ₹5L)
• Interest on unpaid tax from due date

August — Verify and Confirm

E-verification methods:

• Aadhaar OTP (fastest — instant)
• Net banking EVC
• Bank ATM-generated EVC
• Demat account EVC
• Physical ITR-V sent by post to CPC Bengaluru (slowest — avoid)

September — Second Advance Tax Instalment

Second instalment: Cumulative 45% of estimated total tax for the year (Pay 30% in September = 45% cumulative including June payment)

October — Mid-Year Investments

October check: With 6 months of the FY done:

• How much 80C have you invested? (Target: ₹1.5 lakh)
• HRA rent receipts up to date?
• Any capital gains from MF redemptions to account for?

December — Third Advance Tax Instalment

Third instalment: Cumulative 75% of estimated total tax (Pay 30% in December = 75% cumulative)

January–February — The Most Crucial Months for Salaried Employees

What investment proofs to submit:

If you miss the employer's proof submission deadline: Employer deducts the remaining TDS in February–March salary. This can mean ₹20,000–₹50,000 deduction in a single month. Always meet the employer's deadline.

March — Final Stretch

March 31 — The Hard Deadline

Everything for FY 2025-26 must be done by March 31, 2026:

• ✅ All 80C investments completed
• ✅ PPF minimum deposit made
• ✅ Advance tax fully paid
• ✅ ELSS purchased if needed for tax saving

After March 31: Anything you invest counts for FY 2026-27 — not FY 2025-26.

Complete Dates Summary Card — FY 2025-26

Frequently Asked Questions

What happens if I miss the July 31 ITR deadline? You can file a "belated return" until December 31, 2026. You'll pay ₹1,000–₹5,000 as late filing fee + 1% per month interest on any unpaid tax under Section 234A. You also lose the option to carry forward certain losses (like capital loss from equity).

My employer never gave me Form 16 — what do I do? You are legally entitled to Form 16 by June 15. Write to HR/payroll formally requesting it. If they don't respond, download Form 26AS from incometax.gov.in — it has the TDS data you need for ITR filing. File a complaint against the employer if they persistently refuse.

I have advance tax liability — how do I estimate my tax? Estimate total income for the FY (salary + rent + capital gains + interest). Calculate tax on that. Subtract employer TDS (from your monthly payslip). If remainder > ₹10,000 — pay advance tax in the June/Sep/Dec/Mar instalments.

Can I still invest in ELSS in March and claim it for this FY? Yes — any investment made on or before March 31 counts for FY 2025-26, even if it's March 31 itself. Many AMCs see their highest ELSS investment volumes in the last week of March.