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 Individuals | Submission of investment proofs to employer | FY 2025–26 | Feb–Mar 2026 (Employer-specific) |
| Businesses / Companies | Booking expenses & year-end provisions | FY 2025–26 | 31 March 2026 |
| Companies (Maharashtra) | Filing Annual PTRC Return | Mar 2025–Feb 2026 | 31 March 2026 |
| All Assessees | 4th Installment of Advance Tax | FY 2025–26 | 15 March 2026 |
| Presumptive Taxpayers (44AD/44ADA) | Full Advance Tax Payment | FY 2025–26 | 15 March 2026 |
| ITR-U Updated Return | Last 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 months | 25% of additional tax + interest |
| Within 24 months | 50% of additional tax + interest |
Not allowed if:
- Search/seizure proceedings are initiated
- Assessment is already completed
- You are reducing tax liability