Income Tax Rules 2026: The year 2026 has begun. With this new year, it’s important to be aware of key deadlines related to investments and taxes so that you can make informed decisions and save money. In this article, we will provide you with a complete timeline of tax and investment-related events for 2026.
Income Tax New Rules: Remember these dates
January: If you have opted for the old tax regime, submit your HRA, Section 80C, and donation receipts to your employer. This will help you save on taxes. Also, check the status of your PAN, as the last date to link PAN with Aadhaar was December 31, 2025.
February: The Union Budget is presented by the central government in February. Several important announcements regarding taxes and investments are made during this time. Incorporate these changes into your tax planning to your advantage.
March: Being the last month of the financial year 2026, this month is crucial for tax payments. If you are liable for advance tax, pay your taxes by March 15th. You can claim the benefit of investments made until March 31st in your income tax return.
April: The new financial year begins on April 1st, and this month is quite important for those who have opted for the old tax regime. You can invest up to the prescribed limit in schemes like PPF or those covered under Section 80C. This will improve your tax planning.
Senior citizens should submit Form 15H in April to avoid TDS deduction. Also, Akshaya Tritiya falls on April 19th. You can buy physical gold during this period.
May: This month is not as significant from a tax perspective, but you can review your tax planning and plan new investments with the help of your financial advisory.
June: The first advance tax payment deadline for the new financial year is June 15th. The last date for filing income tax returns is in July. Therefore, you can gather the necessary documents for tax filing during this month, such as Form 26AS, Form 16, and TDS certificates.
July: This month is very important from an income tax perspective. The last date for filing income tax returns is usually July 31st.
August: If you missed anything during income tax filing, you can rectify the error during this period.
September: The festive season begins in the country this month. During this time, you can shop and take advantage of the offers available in the market. Also, September 15th is the last date for paying the second instalment of advance tax.
October: This month, Dussehra falls on the 20th. This day is considered auspicious for buying vehicles or houses and opening a new business.
November: Diwali is on November 6th. This festival presents a good opportunity to invest in gold and silver. From this day onwards, you can consult your financial advisory and start new SIPs (Systematic Investment Plans), etc.
Income Tax Rules 2026: Deadline for paying third instalment of advance tax is December 15th
December: This is the last month of the year. The deadline for paying the third instalment of advance tax is December 15th. Additionally, if you were unable to file your return in July, you can file it by December 31st with a penalty.
TDS Limit for Senior Citizens’ FD Interest: What’s special about the new tax slabs?
| Category | On FD / RD Interest, TDS Limit | Tax Slab (New Regime) |
|---|---|---|
| Senior Citizen (60+) | No TDS will be deducted on interest up to ₹1,00,000 per year. | Income Tax Slabs for Individuals < 60 yrs (New Regime):• ₹0 – ₹3,00,000 → 0%• ₹3,00,001 – ₹6,00,000 → 5%• ₹6,00,001 – ₹9,00,000 → 10%• ₹9,00,001 – ₹12,00,000 → 15%• ₹12,00,001 – ₹15,00,000 → 20%• ₹15,00,001+ → 25% |
| Normal Citizen (<60 yrs) | No TDS is applicable on interest up to ₹50,000 per year. | Same New Regime Slabs apply |
|
| Age group | FD Interest TDS Limit (FY 2025‑26) |
|---|---|
| Senior Citizens (60+) | No TDS up to ₹1,00,000 per year. |
| Ordinary citizens | No TDS (Tax Deducted at Source) up to ₹50,000 annually. |
|
| Income (₹) | Tax Rate |
|---|---|
| 0 – 3,00,000 | 0% |
| 3,00,001 – 6,00,000 | 5% |
| 6,00,001 – 9,00,000 | 10% |
| 9,00,001 – 12,00,000 | 15% |
| 12,00,001 – 15,00,000 | 20% |
| 15,00,001+ | 25% |
Note: The absence of TDS deduction does not mean income is tax-free; you still need to declare the income in your income tax return and calculate the actual tax payable.
