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May 21, 2026
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BySteffy A
Updated Income Tax Compliance Calendar June 2026
Introduction
Keeping track of the Income Tax compliance calendar can be quite confusing and tricky. At Ebizfiling, we help businesses understand and manage their compliance requirements, which is essential for running a business smoothly. Tracking tax deadlines helps avoid penalties, interest, and last-minute stress.
In June 2026, the Income Tax Compliance Calendar highlights key due dates related to advance tax, equalisation levy, and other important compliances; the details are discussed below.
Income Tax Compliance Calendar June 2026
|
Due Date |
Particulars |
Applicable To |
Period |
Penalty / Interest for Delay |
|
7th June 2026 |
Equalisation Levy Payment | E-commerce operators / specified service providers | May 2026 |
Interest @ 1% per month on delayed payment; penalty may extend up to 100% of levy amount |
|
15th June 2026 |
Advance Tax – 1st Instalment (FY 2026–27) | All taxpayers with estimated tax liability exceeding ₹10,000 | FY 2026–27 |
Interest @ 1% per month under Sec. 458 for deferment and Sec. 457 for shortfall in advance tax |
|
30th June 2026 |
Statement of Financial Transactions (SFT) | Banks, financial institutions, and specified entities | FY 2025–26 |
Penalty ₹500 per day; may increase to ₹1,000 per day after notice under Sec. 506 |
Disclaimer: The compliance references, form numbers, and section citations mentioned in this article are based on the proposed Income Tax Bill / Income Tax Act 2025 framework.
Important Notes :
- There are no ITR filing deadlines in June 2026, but it is a crucial month to:
- June plays an important role in advance tax planning and compliance preparation.
- Ensure that there is proper estimation of income to prevent interest and penalties.
- Check TDS/TCS records along with Form 168 (earlier Form 26AS) and AIS reconciliation.
- Keep a record of high value transactions (SFT reporting).
- Early preparation helps in smooth ITR filing and faster refunds.
How Ebizfiling Helps Businesses Manage Compliance ?
Managing Income Tax compliance can become difficult when multiple deadlines, tax payments, and reporting requirements need to be tracked regularly. Ebizfiling helps businesses and professionals stay compliant by providing timely support for Income Tax-related filings and payment obligations.
Our experts assist businesses with advance tax calculations, TDS compliance, equalisation levy payments, and other important Income Tax requirements to ensure timely and accurate compliance. We also help businesses monitor important due dates such as 7 June and 15 June to avoid last-minute delays, interest, and penalties.
With Ebizfiling, businesses can manage Income Tax compliances in a more organized, accurate, and stress-free manner while reducing the risk of notices, penalties, and filing errors.
Conclusion
June is an important month in the Income Tax Compliance Calendar. Timely payment of advance tax, TDS, and other dues helps avoid penalties and in and ensures smooth tax compliance throughout the financial year.
You can also refer to our complete Compliance Calendar June 2026 for all GST, TDS, LLP, OPC, Income Tax, PF, ESI, and company compliance due dates in one place.
Suggested Reads:
GST compliance calendar May 2026
TDS and TCS Compliance Calendar June 2026
Income Tax Compliance Calender May 2026
LLP compliance calendar June 2026
Company compliance calendar June 2026
FAQs: Income Tax Compliance Calendar June 2026
1. Can salaried individuals skip advance tax payment in June?
Yes, if your employer deducts sufficient TDS covering your total tax liability. But when you have other sources of income, such as interest, rent, or capital gains, then you may still have to pay advance tax.
2. What do I do to compute my June advance tax?
Calculate your annual income, calculate tax payable and pay 15 per cent of this amount by 15 th June. Compensate TDS that has been deducted to prevent excessive payment.
3. What if I overpay advance tax in June?
Any excess advance tax is set off against future instalments or refunded when you file your ITR. Interest may also be received subject to applicable provisions as per the conditions provided.
4. Does equalisation levy apply to small business?
It is usually applicable to e-commerce operators and designated digital services. Small businesses are not generally liable except when they are classified under specified categories that relate to non-resident digital transactions.
5. Am I allowed to change my estimate of advance tax later in the year?
Yes, it is possible to revise advance tax in later instalments based on revised income estimates. This flexibility assists taxpayers to make adjustments in the event of unforeseen income or losses in the year.
6. What is the consequence of not making TDS deposit by the 7th June deadline by a few days?
Even a delay as little as a month is of interest, computed monthly. Paying on time is relevant since any delays may also affect the tax credit of the deductee and result in compliance notices.
7. Are freelancers required to meet June compliance deadlines?
Yes, freelancers have to pay advance tax (where applicable) and make sure that they comply with TDS. Because they tend to lack employer TDS, it becomes even more significant to keep track of such deadlines.
8. How do I know, whether my TDS has been deposited correctly?
TDS information can be checked by using (earlier Form 26AS) Form 168 or Annual Information Statement (AIS). Periodic checks assist in making sure that the credit is correct and that there are no discrepancies when filing the ITR.
9. Does Form 121 have to be filed every year?
Yes, these forms must be submitted at the beginning of each financial year in case of eligibility. They cannot be automatically carried forward and they have to be re-filed in order to avoid deduction of TDS.
10. What are the tools that can be used to effectively manage the June tax compliances?
Deadline tracking, automated reminders, and proper filings can be managed through the use of Compliance calendars, accounting software or professional services that will reduce the chances of penalties and missed obligations.
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