# Important Financial timelines before 31st March 2026

Published: 08 Dec 2025
Author: Treelife
Practice area: Finance
Tags: financial deadline, financial timeline
Source: https://treelife.in/finance/important-financial-timelines-before-31st-march-2026/

## Summary

- Taxpayers under the old regime must complete tax-saving investments under sections 80C, 80D, 80CCD(1B), 80G, 80GGC and 80E/80EEA for FY 2025-26 by 31 March 2026 to claim deductions.
- Salaried individuals should submit investment proofs to employers via Form 12BB by employer-specific cut-off dates, typically 15 February 2026 or 15 March 2026, to avoid higher TDS deduction in March payroll.
- Companies registered under Maharashtra Professional Tax must file the Annual PTRC return for March 2025 to February 2026 by 31 March 2026, with a minimum penalty of Rs 1,000 for delay.
- The fourth and final installment of advance tax for FY 2025-26 is due on 15 March 2026 for all assessees with taxable income exceeding Rs 10,000 outside salary TDS.
- Presumptive taxpayers under sections 44AD and 44ADA must pay their entire advance tax liability in a single installment by 15 March 2026.
- The last date to file an Updated Return (ITR-U) for FY 2021-22 (AY 2022-23) is 31 March 2026, as ITR-U can be filed within two years from the end of the relevant assessment year.
- Companies and businesses must complete year-end provisioning of expenses, including rent, utilities, audit fees and vendor invoices, before closing books for FY 2025-26.
- Businesses should reconcile accounts receivable and payable, GST ledgers, TDS ledgers and bank statements before 31 March 2026 to ensure accurate profit calculations and audit reports.
- Missing these statutory deadlines before 31 March 2026 can result in penalties, higher TDS deduction, interest payouts or loss of eligibility for tax deductions under the old regime.

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Blog Content Overview

- [1 At a Glance: Key Deadlines Before 31 March 2026](#At_a_Glance_Key_Deadlines_Before_31_March_2026)
- [2 Year-End Compliance for Individuals (FY 2025–26)](#Year-End_Compliance_for_Individuals_FY_202526)
[2.1 Complete All Tax-Saving Investments (Old Regime)](#Complete_All_Tax-Saving_Investments_Old_Regime)
- [2.2 Eligible Sections & Popular Instruments](#Eligible_Sections_Popular_Instruments)
- [2.3 Submit Investment Proofs to Employer (Salaried Individuals)](#Submit_Investment_Proofs_to_Employer_Salaried_Individuals)

- [3 Key Compliance Tasks for Companies (FY 2025–26)](#Key_Compliance_Tasks_for_Companies_FY_202526)
[3.1 Annual PTRC Return (Maharashtra)](#Annual_PTRC_Return_Maharashtra)
- [3.2 Provisioning of Expenses & Closing Books](#Provisioning_of_Expenses_Closing_Books)

- [4 Tasks Applicable to Individuals, Firms & Companies](#Tasks_Applicable_to_Individuals_Firms_Companies)
[4.1 Advance Tax – Final Installment (15 March 2026)](#Advance_Tax_Final_Installment_15_March_2026)
[4.1.1 Who Needs to Pay?](#Who_Needs_to_Pay)
- [4.1.2 Important Notes](#Important_Notes)

- [5 Updated Return (ITR-U) – Last Date 31 March 2026](#Updated_Return_ITR-U_Last_Date_31_March_2026)
[5.1 Deadline Now Applicable](#Deadline_Now_Applicable)
- [5.2 When to Use ITR-U](#When_to_Use_ITR-U)
- [5.3 Additional Tax on ITR-U](#Additional_Tax_on_ITR-U)

As the **financial year 2025–26** closes, taxpayers whether individuals, startups, small businesses, or companies must complete several statutory and tax-related tasks before the **31 March 2026 deadline**. Missing these timelines may lead to **penalties, higher TDS, interest payouts, or ineligibility** for tax deductions.

This updated guide includes **all essential income tax deadlines, TDS/TCS compliance, investment cut-offs, advance tax deadlines, and statutory filings** for FY 2025–26.

## **At a Glance: Key Deadlines Before 31 March 2026**

**Category****Compliance Task****FY / Period****Due Date**Individuals (Old Regime)Tax-saving investments (80C, 80D, 80G, NPS, ELSS, PPF, etc.)FY 2025–26**31 March 2026**Salaried IndividualsSubmission of investment proofs to employerFY 2025–26**Feb–Mar 2026** (Employer-specific)Businesses / CompaniesBooking expenses & year-end provisionsFY 2025–26**31 March 2026**Companies (Maharashtra)Filing Annual PTRC ReturnMar 2025–Feb 2026**31 March 2026**All Assessees4th Installment of Advance TaxFY 2025–26**15 March 2026**Presumptive Taxpayers (44AD/44ADA)Full Advance Tax PaymentFY 2025–26**15 March 2026**ITR-U Updated ReturnLast date to file ITR-U for FY 2021–22 (AY 2022–23)FY 2021–22**31 March 2026**

## **Year-End Compliance for Individuals (FY 2025–26)**

### **Complete All Tax-Saving Investments (Old Regime)**

If you have opted for the **old tax regime**, ensure your **tax-saving investments for FY 2025–26** are completed by **31 March 2026** to claim deductions.

### **Eligible Sections & Popular Instruments**

- **Section 80C**

PPF, LIC Premium, ELSS Funds, Tax-saving FD, NSC, Tuition Fees.

- **Section 80D**

Medical Insurance Premium for self, family, and parents.

- **Section 80CCD(1B)**

Additional ₹50,000 deduction for NPS.

- **Section 80G / 80GGC**

Donations to registered charities or political parties.

- **Section 80E / 80EEA**

Education loan interest and affordable housing interest (if eligible).

### **Submit Investment Proofs to Employer (Salaried Individuals)**

Employers adjust taxes (TDS) based on declarations submitted via Form 12BB. Most organisations have cut-off dates such as:

- **15 February 2026**

- **15 March 2026**

If proofs are not submitted in time:

- **Higher TDS** will be deducted in March payroll.

- You can still claim the refund at return-filing stage, but cash flow impact remains.

## **Key Compliance Tasks for Companies (FY 2025–26)**

### **Annual PTRC Return (Maharashtra)**

Companies registered under **Maharashtra Professional Tax (PTRC)** must file the **Annual PTRC return (March 2025 – February 2026)** on or before: **31 March 2026**

**Penalty for delay:**

- ₹1,000 minimum and can extend based on duration of default.

### **Provisioning of Expenses & Closing Books**

Before closing FY 2025–26, companies must ensure:

- All **year-end expenses are booked** (rent, utilities, audit fees, professional charges, marketing costs, etc.)

- **Unpaid expenses** are accrued.

- **TDS is deducted and deposited** as per applicable timelines.

- Vendor invoices for March are **recorded before 31 March**.

- Reconciliation of:

Accounts receivable/payable

- GST ledgers

- TDS ledgers

- Bank statements

**Why this matters:**
Incorrect provisioning impacts:

- Profit calculations

- Tax liabilities

- Audit reports

- Next year’s opening balances

## **Tasks Applicable to Individuals, Firms & Companies**

### **Advance Tax – Final Installment (15 March 2026)**

#### **Who Needs to Pay?**

- Individuals with taxable income **exceeding ₹10,000** (excluding salary where employer deducts TDS properly)

- Companies

- Partnership firms

- Freelancers & consultants

- Taxpayers receiving:

Interest income

- Capital gains

- Rental income

- Business income

#### **Important Notes**

- The **4th instalment of advance tax** is due on **15 March 2026**.

- For **presumptive taxation** under:

**Section 44AD (Small businesses)**

- **Section 44ADA (Professionals)**
Entire advance tax must be paid **in one single instalment by 15 March 2026**.

## **Updated Return (ITR-U) – Last Date 31 March 2026**

The **Updated Return (ITR-U)** allows taxpayers to correct or disclose missed income within **2 years** from the end of the relevant assessment year.

### **Deadline Now Applicable**

- Last date to file ITR-U for **FY 2021–22 (AY 2022–23)** is **31 March 2026**

### **When to Use ITR-U**

- Missed reporting income

- Underpaid tax

- Incorrectly claimed deductions

- Filed return but want to revise financial information

- Missed filing return originally

### **Additional Tax on ITR-U**

**Return Filing Timing****Additional Tax Payable**Within 12 months25% of additional tax + interestWithin 24 months50% of additional tax + interest

**Not allowed if:**

- Search/seizure proceedings are initiated

- Assessment is already completed

- You are reducing tax liability

### Related posts:

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- [Digital Rupee: A brief introduction](https://treelife.in/finance/digital-rupee-a-brief-introduction/)

- [Digital Payment Systems in India](https://treelife.in/finance/digital-payment-systems-in-india/)

- [Cross Border Payments in India – Wholesale, Retail & RBI Guidelines](https://treelife.in/finance/cross-border-payments-in-india/)

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