Taxpayers have several important compliance obligations to complete in July, making it one of the busiest months on the tax calendar. Missing deadlines for tasks such as income tax return filing or TDS payments can attract interest, late filing charges and additional penalties.
From salaried individuals to employers and business owners, every taxpayer should be aware of the key deadlines falling this month. Meeting these obligations on time can help avoid unnecessary stress, financial penalties and compliance-related issues.
Following the end of June, a fresh set of tax compliance deadlines comes into focus. Here are six key dates to keep on your radar in July 2026.
July 7: The due date for depositing TDS for the April–June quarter arrives for deductors operating under the quarterly payment approval scheme. Delays beyond this date may lead to interest and other statutory penalties.
July 15: Several reporting deadlines are scheduled for mid-month, affecting government offices, authorised dealers, stock exchanges, IFSC entities and intermediaries dealing with overseas investors.
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July 30: This is the deadline for tax deductors to submit the challan-cum-statement relating to specified taxes deducted during June.
July 31: The month concludes with the most important compliance date on the tax calendar. Taxpayers filing ITR-1 and ITR-2 for FY26 are required to submit their income tax returns by this deadline. Missing it means opting for a belated filing, which comes with additional charges.
July 31: Quarterly TDS and TCS returns for the April–June period are also due on this day. The requirement covers TDS statements relating to salaries and payments made to non-resident taxpayers.
July 31: In addition, several prescribed forms must be submitted by the same deadline. These include Form 10BA for rent-related deductions under Section 80GG, Form 10E for relief on salary received in arrears or in advance, and Forms 10H, 10CCE and 10CCD for certain foreign income and royalty-related tax benefits.
Taxpayers who fail to file their ITR on time could face more than just a late filing penalty. Interest on unpaid tax may apply, and certain business or investment losses may no longer be eligible for carry forward. Those who miss the deadline can still submit a belated return before Dec. 31 of the assessment year or an updated return (ITR-U) within 24 months, subject to an additional payment.
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