Form 16 due by June 15
First advance tax installment deadline approaches
Multiple tax compliance dates in June
Form 16 due by June 15
First advance tax installment deadline approaches
Multiple tax compliance dates in June
For taxpayers, June is one of the most important months in the financial calendar. This is due to the tax-related deadlines falling in the same month. June has financial responsibilities from the issuance of Form 16 to the first advance tax instalment, which one must not forget. Taxpayers, employers, and businesses should keep track of these dates to make sure they meet the deadlines and fulfil their responsibilities.
Starting off early in the month, entities collect the Securities Transaction Tax (STT) and the commodities transactions tax (CTT) during May 2026. This must be deposited with the government. Timely payment is necessary to avoid penalties and ensure regulatory compliance.
The most significant date for individual taxpayers is June 15, 2026, as many are affected. Employees and salaried personnel are expected to receive Form 16 from their employers by this date for the financial year 2025-26. Form 16 contains the details of salary paid and tax deducted at source (TDS). This makes it a crucial document for filing income tax returns. While taxpayers can file their taxes without this form as well, the document just simplifies the process and helps verify tax deductions accurately.
This is also the date for employers to issue Form 12BA, which provides details of perquisites, benefits, and amenities offered to the employees during the financial year.
Another tax compliance is the first instalment of the advance tax for the FY2026-27. Taxpayers whose liability for the year exceeds Rs 10,000 are generally required to pay 15 per cent of the total estimated tax liability by this date. Advance tax provisions apply to self-employed individuals, professionals, business owners, investors, and other significant non-salary incomes.
Additional tax-related deadlines are scheduled for later in the month. As per a report shared by Upstox, June 29th and June 30th involve various reporting and filing obligations for specified taxpayers, including disclosures. Stakeholders covered under these provisions should review the obligations to which they are subject.
As the income tax filing season takes place, keeping track of these deadlines becomes vital to avoid interest charges while complying with the tax regulations.