Individual & Salaried Tax Compliance Roadmap: Key Annual Milestones

व्यक्तिगत एवं वेतनभोगी कर अनुपालन कैलेंडर

Comprehensive annual tax compliance roadmap for salaried employees, pensioners, and individual taxpayers: quarterly advance tax obligations on capital gains, Form 16 collection, 31st July ITR filing, and 31st December belated deadlines.

Written by: Author Profile

Direct Tax & CA Review Panel

Chartered Accountancy Review Panel • Senior Direct Tax Review Desk

Reviewed & Fact-Checked by: Technical Review Panel

Tax Law & Dispute Review Desk

Tax Litigation & Legal Review Panel • Tax Appeal & Procedure Review Desk

Published: 1st April 2026•Last Updated: 15th August 2026•Last Reviewed: 15th August 2026

Key Statutory Highlights (FY 2026-27 (AY 2027-28))

15th June: Employers must issue Form 16 (Part A & B) to all salaried employees.

15th Jun / 15th Sep / 15th Dec / 15th Mar: Advance Tax quarterly installments if estimated tax liability on non-salary income (capital gains, rental, freelancing) exceeds ₹10,000.

31st July: Mandatory statutory due date for filing non-audit ITR-1 / ITR-2 for the preceding financial year.

31st December: Final statutory deadline for filing Belated ITR u/s 139(4) or Revised ITR u/s 139(5).

31st March: Last date for completing tax-saving investments (PPF, ELSS, NPS) for the current financial year.

Who is Eligible & When Does it Apply?

Applicability #1

All individual resident and NRI taxpayers earning salary, rental, capital gains, or other income.

Step-by-Step Procedure & Compliance Roadmap

Q1 (April - June): Investment Declaration & Form 16

Submit regime declaration to employer in April; collect Form 16 by 15th June.

Q2 (July - September): File ITR by 31st July

Reconcile with AIS/26AS, file ITR-1/2, and e-verify within 30 days.

Q3 (October - December): Track Refund & File Revisions

Verify Section 143(1) intimation; submit revised return before 31st December if needed.

Q4 (January - March): Submit Proofs & Finalize Investments

Submit actual investment receipts to payroll and complete 80C/80D allocations by 31st March.

Mandatory Documents Checklist

Form 16, AIS/TIS, Form 26AS, Bank Interest Certificates, 80C/80D receipts

Common Mistakes & Compliance Risks to Avoid

•Failing to pay advance tax on capital gains realized in stock market trading.

•Missing 31st July deadline resulting in Section 234F late fee.

Frequently Asked Questions

Are senior citizens required to pay advance tax?

Resident senior citizens (aged 60 and above) who do NOT have any income from business or profession are 100% exempt from paying advance tax under Section 207.

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🛡️ Educational Disclaimer: FinSetu India is an independent educational guidance and calculation platform. Content is published for general citizen awareness based on applicable laws as of FY 2026-27 (AY 2027-28). We do not provide personalized legal/tax advice or file returns directly. Verify current applicable rules on official portals or consult a qualified Chartered Accountant / Tax Lawyer.