Income 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 key income tax compliance deadlines, reporting requirements, and filing obligations applicable in June 2026.

India's Income Tax Department prescribes specific compliance deadlines throughout the year for tax payments, withholding tax obligations, certificates, statements, and information reporting. While the Income-tax Act, 2025, has replaced the term "financial year" (FY) with "tax year" (TY) from April 1, 2026, many June 2026 compliance obligations continue to relate to income earned and transactions undertaken during FY 2025-26 under the Income-tax Act, 1961.

Taxpayers should therefore carefully distinguish between compliance obligations governed by the Income-tax Act, 1961, and those arising under the new Income Tax Act, 2025.

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 compliances for businesses, investors, employers, and financial entities in India. Major obligations during the month include the following:

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1. Tax deducted at source (TDS) and tax collected at source (TCS) deposits
2. Advance tax payments
3. Issuance of Form 16 and Form 16A for income and payments relating to FY 2025-26
4. Investment fund reporting
5. Indirect transfer disclosures
6. Annual filings for trusts and AIFs

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 taxable income and tax liability during the tax year and pay advance tax in prescribed installments where the estimated tax payable exceeds INR 10,000 after considering TDS credits. 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): June 2026 IT compliance deadlines

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. When must employers issue Form 16 for FY 2025-26?

Employers must issue Form 16 under the Income-tax Rules, 1962, 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 is Income Tax Form 3CEK, and who is required to file it?

Form 3CEK under Income-tax Rules, 1962, 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.

This article first appeared on India Briefing, our sister platform.