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Income Tax Notifications

INCOME TAX ALERT

Payment of Advance tax

Ensure to make the payment of advance tax – fourth instalment for FY 2025-26

Form: ITNS 280

Deadline: 15 March 2026

Why should we file?

Persons who have total tax payable of INR 10,000 or more (after considering the TDS/ TCS) in a FY

TAKEAWAY

Advance tax must be paid by any taxpayer (individual, company, firm, or non- resident) whose tax liability exceeds ₹10,000 in a financial year, except senior citizens without business income. Timely payment avoids interest under Sections 234B and 234C.

INCOME TAX ALERT

Deposit of TDS/ TCS for the month of February 2026

Ensure to make the payment of TDS/ TCS for February 2026

Form: ITNS 281

Deadline: 07 March 2026

Why should we file?

Payment to be made by the person who has deducted/ collected the taxes

TAKEAWAY

Timely payment of TDS and TCS is crucial to avoid interest, penalties, and disallowance of expenses under the Income Tax Act. Ensuring deposits within the prescribed due dates also helps maintain compliance and smooth business operations.

INCOME TAX ALERT

Form for reporting the TDS deducted and paid

Ensure to file the TDS return for the Q3 (October to December 2025) reporting the TDS deducted and paid during this period

Form: Form 24Q (salary) Form 26Q (non-salary) Form 27Q (non-resident)

Deadline: 31 January 2026

Why should we file?

To be filed by assesses who have deducted the taxes for October to December and should do the reporting of the same

TAKEAWAY

Reconcile challans and PANs before filing - Mismatches can lead to defaults in filing of TDS returns resulting in tax and interest liability and requirement to file correction statements

INCOME TAX ALERT

Deposit of TDS/ TCS for the month of January 2026

Ensure to make the payment of TDS/ TCS for January 2026

Form: ITNS 281

Deadline: 07 February 2026

Why should we file?

Payment to be made by the person who has deducted/ collected the taxe

TAKEAWAY

INCOME TAX ALERT

Issuance of TDS certificates

Ensure timely issuance of TDS/ TCS certificates for Q3 of FY 2025-26

Form: Form 16A (TDS deducted under other sections) / Form 16B (TDS on sale of immovable property – Sec 194- IA)/ Form 16E (TDS on VDAs)/ Form 27D (TCS)

Deadline: 15 days from the due date of filing of TDS/ TCS return

Why should we file?

All the persons who have filed the TDS/ TCS returns

TAKEAWAY

Issuing TDS and TCS certificates within the prescribed timelines is essential to ensure that deductees and collectees can claim tax credits smoothly in their returns. Any delay not only attracts penalties but also disrupts compliance and trust, making timely issuance a critical part of responsible tax management.

INCOME TAX ALERT

Claiming of foreign tax credit

Form for claiming the credit of taxes paid in foreign countries

Form: 67

Deadline: 31st March 2026 (as per Rule 128) – for AY 2025-26

Why should we file?

Companies which have paid Income-taxes in foreign countries to file this Form for claiming the credit of taxes paid in order to avoid double taxation.

TAKEAWAY

Treat Form 67 as part of your global tax strategy - early filing ensures seamless credit. Delay in filing could lead to double taxation.