Income Tax Compliance Checklist in Indian FY 2025-2026

By Dishtayate – Your Partner in Comprehensive Financial Services (14 Years of Expertise)

With changing rules and deadlines, navigating India’s tax system may be difficult for professionals, companies, and individuals alike. To guarantee that our clients maintain complete compliance and keep clear of needless fines, we at Dishtayate mix extensive experience with the most recent guidelines. This is a comprehensive income tax compliance checklist for FY 2025–2026 that includes doable steps to ensure smooth compliance.

Why is Income Tax Compliance Important?

• Avoid Penalties: Misconducting deadlines or submitting false records can result in substantial fines and interest.

• Maintain Credibility: Timely compliance improves your standing with banks, partners, and authorities.

• Encourage Growth: Good compliance enables easy credit, funding, and expansion.

Income Tax Compliance Checklist for FY 2025–2026

1. Staying Updated on Key Deadlines

Compliance Task	Form(s)	Applicable To	Due Date (FY 2025–26)
Quarterly TDS Statement Submission	24Q/26Q/27Q	TDS Deductors (All)	Last day of the month after quarter
Quarterly TCS Statement Submission	27EQ	TCS Collectors	Last day of the month after quarter
Advance Tax – 1st Installment	Challan 280	Taxpayers with Liability	15 September 2025
Advance Tax – 2nd Installment	Challan 280	Taxpayers with Liability	15 December 2025
Advance Tax – 3rd Installment	Challan 280	Taxpayers with Liability	15 December 2025
Advance Tax – Final Installment	Challan 280	Taxpayers with Liability	15 March 2026
ITR Filing (Non-Audit Cases)	ITR-1, 2, 3, 4	Individuals/Entities	15 September 2025 (extended)
ITR Filing (Audit Cases)	ITR Forms	Companies/Firms	31 October 2025
Tax Audit Report Submission	3CA/3CB & 3CD	Audit Assessees	30 September 2025
Filing of Belated or Revised Return	Appropriate ITR	All Assessees	31 December 2025

Note: Missing deadlines may result in late fees ranging from ₹1,000 to ₹5,000 and interest on overdue tax

2. Know Which ITR Form to File

• ITR-1: Individuals with a salary, no business income, one home property, and other sources can earn up to ₹50 lakh.
•  ITR-2: For people or HUFs without a company or professional source of income
•  ITR-3: For people or HUFs earning money from a company or profession
•  ITR-4 (Sugam): The scheme assumes an income of up to ₹2 crore in business turnover.
•  ITR-5 to ITR-7: This refers to the establishment of trusts, partnership firms, LLPs, AOPs, and BOIs for businesses.

3. Documents & Information Checklist

• PAN and Aadhaar
• Information about the bank account (updated for reimbursement or credit)
• Forms 16, 16A, 16C, and 26AS contain the TDS, TCS, salary, and rent receipts.
• The text provides evidence of investing in various financial instruments like 80C, 80D, NSC, PPF, and ELSS.
• The statement includes details about the capital gains of real estate, mutual funds, and stock.
• Loan statements for homes, businesses, and schools
• Information on rental income and costs
• This refers to the management of accounts and ledgers for a business or profession, if applicable.
• Foreign income and asset declarations (where applicable)

4. Major Compliance Actions for FY 2025–26

• Gather all TDS certificates, reconcile them, and make sure the Form 26AS/TIS/Annual Information Statement has the right credits.

• Verify all of the exclusions and deductions that apply (Section 80C, 80D, HRA, LTA, etc.).

• Make sure that all revenue sources—including foreign and digital assets—are accurately reported.

• Pay advance tax as soon as possible based on your expected liability.

• Comply with income tax and company regulation deadlines while filing GST, TDS, and other tax returns.

• Check for any missing or inaccurate information on Form 26AS, AIS, and TIS. Prior to filing, resolve any discrepancies.

• Complete the accounts and financial statements in compliance with the relevant accounting rules.

• Within 30 days of filing, electronically verify your income tax returns.

• Keep all supporting documentation for a minimum of six evaluation years.

5. Updates & What’s New for FY 2025–26

• Extended ITR Filing Deadline: Non-audit taxpayers now have until September 15, 2025, instead of July 31.

• The updated ITR forms include more detailed capital gains disclosures, HRA claim validation, and limitations on minors’ eligibility.

• The amended return (Section 139(8A)) is now permitted for up to 48 months after the end of the assessment year; if earlier deadlines are missed, there will be a larger additional tax outgo.

• A greater emphasis on data reconciliation is evident in the tax portal’s cross-checks with information sheets and financial data.

 6. Common Pitfalls to Avoid

• submitting inaccurate or lacking information

• Tax payments made beyond the due date are subject to 1% monthly interest.

• disregarding the confirmation of data between self-reported income and TDS/TCS

• Extended deadlines, incomplete applications, or omission of new income categories

• Not e-verifying filed returns

7. How Dishtayate Empowers Your Compliance

• Income tax filing and assistance for individuals, corporations, and businesses
• GST, TDS, and PF/ESIC return preparation and electronic filing
• Accounting, auditing, and payroll management
• Financial planning, wealth management, and investment
• LLPs and firms’ ROC and regulatory compliance
• Negotiating project financing, loan syndication, and government incentives.

8. Quick Reference Compliance Calendar (FY 2025–26)

Month	Key Compliances
April	April TDS/TCS deposits, GST returns (GSTR-1, 3B), ESIC, PF Returns
June	Q1 TDS/TCS statement, 1st advance tax installment, ESIC, PF Returns
July	FLA return for foreign assets, GST & TDS returns
September	2nd advance tax installment, Tax audit report, Non-audit ITRs
December	3rd advance tax installment, TDS/TCS returns, GST returns
March	4th advance tax installment, file pending returns before year close

Conclusion: Reliable Compliance, Peace of Mind

This statement is crucial for all taxpayers and businesses regarding income tax compliance. In the face of changing rules, complex disclosures, and strict deadlines, expert advice ensures error-free and penalty-proof returns. Dishtayate, our professionals assist you with every stage, including planning, documentation, filing, auditing, and post-filing support.

Remain financially independent and stress-free. For knowledgeable tax, audit, and financial services in general, rely on Dishtayate, a name that has been associated with dependability and expertise in India’s financial consulting industry for 14 years.

Notice: This is merely an informational checklist. Speak with Dishtayate’s professionals for individualized compliance.