The
new year 2026 has begun, and for anyone looking to
save taxes and maximize investments, knowing the
important deadlines is crucial. Timely planning can help you
save thousands of rupees, avoid penalties, and make your money work smarter.
1. Income Tax Filing Deadline
·
For Individuals (Non-Audit Cases):o
Deadline: July 31, 2026o Filing your
Income Tax Return (ITR) on time helps avoid
penalties and interest.·
For Businesses / Audit Cases:o
Deadline: october 31, 2026o Applies to
businesses, professionals, and companies under audit requirements.Tip: File your ITR early to
claim refunds quickly and avoid last-minute stress.
2. Tax-Saving Investments Deadline
To
claim deductions under Section 80C and other sections, you must
invest before march 31, 2026:·
Popular 80C Options:o
PPF (Public Provident Fund)o
ELSS (Equity Linked Savings Scheme)o
Life Insurance Premiumso
NSC (National Savings Certificate)o
Sukanya Samriddhi Yojana (SSY)·
Other Deduction Options:o
Section 80D: health insurance premiums for self, family, and parentso
Section 80E: education loan interesto
Section 24(b): home loan interest for self-occupied propertyInvesting
before march 31 ensures you
claim maximum deductions for FY 2025-26.
3. Advance Tax Deadlines
For taxpayers with
tax liability over ₹10,000 in a year, advance tax is applicable. The schedule for FY 2025-26 is:
InstallmentDue DatePercentage of Tax Payable1st15 june 202515%2nd15 september 202545% cumulative3rd15 december 202575% cumulative4th15 march 2026100% cumulativePaying on time avoids
interest charges under Sections 234B and 234C.
4. Dividend and capital Gains Planning
·
Dividend Income: Taxed under
Section 115BBDA, so plan investments in
stocks or mutual funds accordingly.·
Capital Gains:o Short-term gains: 15% tax (for listed securities)o Long-term gains: 10% on gains exceeding ₹1 lakh (equity)·
Action Tip: Sell investments
strategically before march 31 to optimize tax liability.
5. Retirement and Pension Contributions
·
NPS (National Pension Scheme): Contributions eligible for
tax deduction up to ₹50,000 under 80CCD(1B).·
EPF/Voluntary PF Contributions: Check balances and
top-up contributions before march 31 to maximize benefits.
6. Other Key Deadlines
·
Health Insurance Premiums (80D): Pay before march 31 to
claim deduction for FY 2025-26.·
Home Loan EMI Payments: Ensure
interest component is paid before march 31 for
tax deduction under Section 24(b).·
Donations (80G): Make donations before march 31 to
claim charitable contribution deductions.
7. Smart Planning Tips for 2026
1.
Maintain a Calendar: Keep track of
tax and investment deadlines.2.
Invest Early: Avoid last-minute investments; early investments allow
interest and growth to accumulate.3.
Optimize Tax-Saving Instruments: Choose
80C, 80D, 80CCD(1B) options wisely based on returns and liquidity.4.
Digital Record Keeping: Keep
receipts, certificates, and investment proofs handy for smooth filing.5.
Consult a Tax Advisor: Especially if you have
multiple income sources or investments.
Conclusion
Starting the year 2026 with
smart financial planning can
save you thousands in taxes and boost your savings. Key actions include:· Filing ITR on time· Completing tax-saving investments before
March 31· Paying advance tax installments as per schedule· Planning dividends, capital gains, and retirement contributionsKeeping a
timeline of deadlines ensures your finances stay on track, and your wallet stays full!
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