May 2026 Tax Compliance Calendar — Every Deadline Explained for Indian Businesses
20+ deadlines. 4 critical dates. Zero confusion. Here's exactly what's due in May 2026, what it means, and how to stay ahead of it — explained by practising Chartered Accountants.
✍️ About the Author This blog is written by CA Abhinav Sharma, Co-founder of hisabkitab and a practising Chartered Accountant with years of experience managing tax compliance for Indian SMEs, startups and CA firms. hisabkitab is built by CAs and trusted by 10,000+ Indian businesses. View LinkedIn Profile →
If you followed our April 2026 Compliance Calendar → — welcome back! May is even busier, so let's get straight into it.
May is one of the most important compliance months of the year for Indian businesses. Why? Because May sits right after the financial year closes — meaning it's packed with annual filings, certificate issuances, and year-end disclosures all hitting you at once.
In our CA practice, we've seen businesses get caught off guard every single year by May deadlines — especially the TDS quarterly returns and LLP Form 11 — simply because they assume "I paid my TDS monthly, I'm done." That's not enough. May requires both payments AND filings AND certificates across multiple portals.
Miss one, and you're looking at interest, penalties, or worse — an income tax notice.
Here's a date-by-date breakdown of everything due in May 2026, explained in plain language — with direct links to official government portals so you can act immediately.
May 7 — The First Deadline Hits Fast
1. Deposit TDS/TCS for April 2026
What it is: Any TDS (Tax Deducted at Source) or TCS (Tax Collected at Source) that your business deducted or collected during April 2026 must be deposited with the government by May 7.
Who it applies to: Any business that paid salaries, vendor fees, rent, professional charges, or collected TCS on sales in April.
Real scenario: A Surat-based textile distributor pays ₹2 lakh/month to a logistics vendor. At 2% TDS that's ₹4,000 deducted in April — it must reach the government account by May 7, not May 31.
What to do:
Run your April payroll and vendor payment report
Calculate total TDS deducted across all payment heads
Generate Challan 281 and deposit via the income tax portal before May 7
hisabkitab's TDS reports pull April deduction data automatically — no manual calculation needed
🔗 Pay TDS directly: incometax.gov.in → e-Pay Tax
Penalty for missing it: Interest at 1.5% per month on unpaid TDS + penalty under Section 271C equal to the TDS amount. On ₹1 lakh unpaid TDS that's ₹1,500 extra every month.
Smart tip: Set your reminder for May 5 — gives you 2 buffer days to fix any bank transfer or portal issues before the actual deadline.
2. Buyer Declaration for Tax-Free Goods Procurement
What it is: Under new 2025 tax provisions, if your business is buying goods that qualify for tax exemption, you must submit a formal written declaration to your seller confirming the exemption basis — by May 7.
Who it applies to: Buyers procuring goods that are exempt from TCS under the latest amendments.
What to do:
Check with your CA if your April purchases fall under any exemption category
Issue the written declaration to the vendor before May 7
Without this declaration, the seller must deduct TCS even on exempt goods — unnecessary cash outflow for your business
Common mistake we see: Many buyers assume verbal confirmation is enough. It isn't. The declaration must be in writing and kept on file by both parties.
May 10 — Professional Tax Deadline
3. Professional Tax (PT) on Salaries for April 2026
What it is: Employers must pay Professional Tax on April 2026 salaries by May 10. Rates and due dates vary by state.
Who it applies to: Employers in Maharashtra, Karnataka, West Bengal, Tamil Nadu, Telangana, Andhra Pradesh, Gujarat and other PT-levying states.
What to do:
Calculate PT liability based on your state's slab on April salaries
Deposit via your state government's PT portal before May 10
If you run payroll across multiple states, check each state's rate separately — they all differ
🔗 State PT portals:
Maharashtra: mahagst.gov.in
Karnataka: ptax.kar.nic.in
West Bengal: wbcomtax.gov.in
Note: Delhi, Haryana, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand, Arunachal Pradesh, Himachal Pradesh and Goa do NOT levy Professional Tax — if you only operate there, skip this one.
May 11 — GST Return Day
4. GSTR-1 (Monthly) for April 2026
What it is: Monthly GST return for all outward supplies (sales) made in April 2026 must be filed by May 11.
Who it applies to: All GST-registered businesses filing GSTR-1 monthly — typically those with annual turnover above ₹5 crore.
What to do:
Compile all April sales invoices, credit notes and debit notes
File GSTR-1 on the GST portal by May 11
hisabkitab auto-generates your GSTR-1 data from your sales invoices — no manual compilation needed
🔗 File GSTR-1: gst.gov.in → Services → Returns → GSTR-1
Penalty for missing it: Late fee of ₹50/day (₹20/day for nil return) up to ₹10,000.
Why this matters beyond compliance: Your buyers can only claim Input Tax Credit (ITC) on purchases from you after your GSTR-1 is filed. Late filing doesn't just cost you — it creates problems for your customers too.
May 13 — QRMP Filers Take Note
5. GSTR-1 IFF (Optional) for April 2026 — QRMP Filers
What it is: Businesses on the QRMP scheme (quarterly filers with turnover under ₹5 crore) can optionally upload B2B invoices for April via the Invoice Furnishing Facility (IFF) by May 13. This lets buyers claim ITC without waiting for the quarterly return.
Who it applies to: GST businesses on the QRMP scheme.
What to do:
If your B2B buyers need ITC from April purchases quickly — upload via IFF by May 13
It is optional but highly recommended if your buyers are asking for it
🔗 Access IFF: gst.gov.in → Services → Returns → IFF
May 15 — Four Filings on One Day
6. Provident Fund (PF) & ESI Payment for April 2026
What it is: Employers must deposit EPF and ESI contributions for April 2026 by May 15.
Who it applies to: Employers with 20+ employees (EPF) and employers with 10+ employees earning below ₹21,000/month (ESI).
What to do:
Calculate EPF: 12% employer + 12% employee on basic salary + DA
Calculate ESI: 3.25% employer + 0.75% employee on gross salary
Deposit via the respective portals before May 15
🔗 Pay EPF: unifiedportal-emp.epfindia.gov.in 🔗 Pay ESI: esic.gov.in → Employer Login
Penalty for missing it: Interest at 12% per annum on delayed EPF + damages ranging from 5% to 25% of arrears depending on delay period.
7. TDS Certificate Issuance for Specified Transactions
What it is: If you deducted TDS on rent, professional fees, or other specified payments — you must issue the TDS certificate (Form 16A) to the deductee by May 15.
If you're the deductee (vendor/freelancer): Chase your client for this certificate — you need it to claim TDS credit in your ITR. Don't assume they'll send it automatically.
If you're the deductor: Download from TRACES portal and share digitally with proof of delivery.
🔗 Download TDS certificates: tdscpc.gov.in (TRACES)
Real scenario: A freelance designer received ₹15,000 with ₹1,500 TDS deducted by their client in Q4. Without Form 16A, they cannot claim that ₹1,500 credit when filing ITR — it effectively becomes a loss.
8. Stock Exchange & Recognised Association Reporting for April
What it is: Stock exchanges and recognised commodity/derivative associations must report all April transactions to the income tax department.
Why businesses should care: If your business trades in equities, F&O, or commodities, this data cross-checks against your ITR. Discrepancies trigger notices.
What to do: Reconcile your broker statements for April before May 10. Ensure all trades are correctly captured in your books.
9. TCS Quarterly Statements — Q4 FY 2025–26 (Form 27EQ)
What it is: Sellers who collected TCS in January–March 2026 must file Form 27EQ — the quarterly TCS return — by May 15.
Who it applies to: Businesses selling scrap, alcohol, forest produce, minerals, or high-value goods where TCS is mandatory.
What to do:
Compile Q4 TCS collections — buyer PAN, amount, date
File Form 27EQ via TIN NSDL or income tax portal
🔗 File TCS return: tin.tin.nsdl.com or incometax.gov.in
Don't confuse these two: Form 27EQ (quarterly statement filed with government) is due May 15. Form 27D (TCS certificate issued to buyer) is due May 30. We see this mix-up constantly in CA practices.
10. Client Code Modification Reporting
What it is: Stock brokers who modified client codes in April must report these to the stock exchange by May 15.
Who it applies to: Primarily stock brokers.
May 20 — GST Summary Return Deadline
11. GSTR-3B for April 2026 (Monthly Filers)
What it is: GSTR-3B is the monthly GST summary return covering total sales, ITC claimed, and net GST payable for April 2026.
Who it applies to: All GST-registered businesses filing monthly (turnover above ₹5 crore).
What to do:
Reconcile GSTR-1 data with purchase invoices
Calculate net GST liability after adjusting ITC
File GSTR-3B and pay any GST due before submitting
hisabkitab auto-calculates ITC and tax payable — no manual working needed
🔗 File GSTR-3B: gst.gov.in → Services → Returns → GSTR-3B
Penalty for missing it: ₹50/day late fee + 18% interest on any unpaid GST amount.
May 25 — QRMP Challan Payment
12. GST Challan Payment for QRMP Filers (if insufficient ITC)
What it is: QRMP scheme businesses with insufficient ITC to cover April's GST liability must pay the balance via challan PMT-06 by May 25.
Who it applies to: Quarterly GST filers on the QRMP scheme.
What to do:
Check ITC balance vs April GST liability on the GST portal
If ITC is insufficient, pay shortfall via challan PMT-06 before May 25
If ITC fully covers liability — no payment needed, but still verify
🔗 Pay GST Challan PMT-06: gst.gov.in → Services → Payments → Create Challan
May 30 — Year-End Disclosure Day 📂
13. TCS Certificates for Q4 FY 2025–26 (Form 27D)
What it is: Every seller who collected TCS in Q4 (January–March 2026) must issue Form 27D — the TCS certificate — to each buyer by May 30.
If you're the buyer: This lets you claim TCS credit in your ITR, reducing your tax liability. Chase your vendor before May 25.
If you're the seller: Download from TRACES and send digitally. Keep proof of delivery on file.
🔗 Download Form 27D: tdscpc.gov.in (TRACES)
14. TDS Payment — Forms 26QB, 26QC, 26QD, 26QE for April 2026
What it is: Special TDS forms for specific April 2026 transactions — must be filed and tax deposited by May 30:
Form 26QB — TDS on property purchases above ₹50 lakh
Form 26QC — TDS on rent paid above ₹50,000/month
Form 26QD — TDS on payments to contractors and professionals
Form 26QE — TDS on crypto asset transfers
Who it applies to: Buyers of property, tenants paying high rent, businesses paying contractors, anyone dealing in crypto assets in April.
🔗 File Forms 26QB / 26QC / 26QD / 26QE: incometax.gov.in → e-File → File Income Tax Forms
Common mistake: Many businesses deposit TDS via Challan 281 for these transactions — that's wrong. These require their own specific forms filed separately on the income tax portal.
15. Form 11 for LLPs — Annual Return for FY 2025–26
What it is: All LLPs must file their Annual Return — Form 11 — for FY 2025–26 with the Ministry of Corporate Affairs by May 30.
Who it applies to: Every registered LLP — even those with zero business activity in FY 2025–26.
What to do:
File Form 11 on MCA21 portal with partner details, contributions and changes during the year
Coordinate with your CA or company secretary well before May 28
🔗 File Form 11: mcaportal.gov.in
Penalty for missing it: ₹100 per day with absolutely no upper cap — it keeps accumulating until you file. An LLP that misses this by 60 days pays ₹6,000 extra before even touching the MCA portal.
16. Reporting Under Section 285B
What it is: Film producers must disclose payments made to artists and production-related parties for FY 2025–26 by May 30.
Who it applies to: Cinematograph film producers and media production houses.
🔗 File on income tax portal: incometax.gov.in
May 31 — The Big Annual Filing Day 🗓️
Six deadlines land on the same day. Start preparing in the first week of May itself — not the last week.
17. TDS Returns — Forms 24Q, 26Q, 27Q for Q4 FY 2025–26
What it is: Quarterly TDS returns for January–March 2026 must be filed by May 31:
Form 24Q — TDS on salaries
Form 26Q — TDS on non-salary payments to residents (vendors, rent, professional fees, interest)
Form 27Q — TDS on payments to non-residents
Who it applies to: Every business that deducted TDS in Q4 FY 2025–26.
This is different from May 7: May 7 was about depositing the TDS money. May 31 is about filing the detailed quarterly return showing the complete deductee-wise breakup. Both are mandatory.
What to do:
Compile all Q4 TDS deductions — challan-wise and deductee-wise with PAN details
File via TRACES or TIN NSDL
hisabkitab generates party-wise and month-wise TDS breakdowns ready for your CA to file directly
🔗 File TDS returns: tdscpc.gov.in (TRACES) 🔗 Alternative: tin.tin.nsdl.com
Penalty for missing it: ₹200/day under Section 234E until filed, capped at the total TDS amount. On ₹50,000 TDS that's up to ₹50,000 in late filing fees alone.
18. Annual Financial Transaction Reporting — Form 61A (SFT)
What it is: Banks, mutual funds, registrars, and companies that processed high-value transactions in FY 2025–26 must file Form 61A (SFT).
High-value thresholds:
Cash deposits above ₹10 lakh in savings accounts
Credit card payments above ₹1 lakh/month
Property purchases above ₹30 lakh
Mutual fund investments above ₹10 lakh
Why every business should care: The income tax department cross-checks this data against every ITR. If your high-value transactions don't match your return — expect a notice.
What to do: Log into your AIS in May itself. Review what's been reported. Reconcile with your books before ITR filing.
🔗 File Form 61A: incometax.gov.in → e-File → Income Tax Forms → Form 61A 🔗 Check your AIS: incometax.gov.in → Services → Annual Information Statement
19. PAN Allotment Applications
What it is: Businesses must ensure PAN is obtained for all parties where mandatory — new employees, directors, vendors — by May 31.
Why it matters: Without valid PAN, TDS is deducted at a flat 20% instead of the normal rate — creating disputes and excess deductions that take months to resolve.
🔗 Apply for new PAN: onlineservices.nsdl.com 🔗 Verify existing PAN: incometax.gov.in → Verify PAN details
20. Form 61B — Financial Institution Reporting (FATCA/CRS)
What it is: Financial institutions must report accounts held by foreign tax residents under the FATCA/CRS international framework by May 31.
Why businesses should care: If your business has NRI partners or foreign-linked accounts, ensure your KYC and tax residency declarations with your bank are accurate — incorrect records here can trigger international compliance issues.
🔗 File Form 61B: incometax.gov.in → e-File → Form 61B
21. Donation Reporting — Form 10BD
What it is: NGOs registered under Section 80G must file Form 10BD — donor-wise details of all FY 2025–26 donations — and then issue Form 10BE certificates to each donor.
If your business donated to an 80G charity: Chase them for Form 10BE before June — you need it to claim the 80G deduction in your ITR.
If you run an NGO: File Form 10BD with complete donor details. Non-filing means your donors cannot claim their deduction — which damages your relationship with them.
🔗 File Form 10BD: incometax.gov.in → e-File → Income Tax Forms → Form 10BD
Penalty: ₹200/day under Section 234G — no upper cap.
22. Employee Superannuation Fund Return Filings
What it is: Employers maintaining a recognised superannuation fund must file the annual return of FY 2025–26 contributions and payments by May 31.
Why it matters: Non-filing risks the fund losing its recognised status — meaning employee contributions are no longer tax-exempt, creating an immediate HR and payroll problem.
What to do: Coordinate with your fund administrator and CA in the first week of May. Pull all FY 2025–26 contribution data from payroll records and file before the deadline.
🔗 File on income tax portal: incometax.gov.in
Your Complete May 2026 Compliance Checklist ✅
By May 1:
Pull April TDS/TCS data from your books
Validate PAN for all vendors and new employees → Verify PAN
Log into AIS and review reported transactions → Check AIS
By May 5:
Deposit April TDS/TCS → Pay now
Issue buyer declarations for tax-exempt purchases
By May 10:
Pay Professional Tax on April salaries → [State PT portal]
By May 11:
File GSTR-1 for April → gst.gov.in
By May 13:
Upload IFF invoices for April (QRMP filers — optional) → gst.gov.in
By May 15:
Deposit EPF → epfindia.gov.in
Deposit ESI → esic.gov.in
Issue TDS certificates to deductees → TRACES
File Form 27EQ → tin.tin.nsdl.com
By May 20:
File GSTR-3B for April → gst.gov.in
By May 25:
Pay GST Challan PMT-06 if insufficient ITC → gst.gov.in
Chase vendors for Form 27D → TRACES
By May 28:
Coordinate LLP Form 11 filing with CA → mcaportal.gov.in
By May 30:
Issue TCS certificates Form 27D to buyers → TRACES
File Forms 26QB / 26QC / 26QD / 26QE → incometax.gov.in
File LLP Annual Return Form 11 → mcaportal.gov.in
By May 31:
File TDS returns 24Q / 26Q / 27Q → TRACES
File Form 61A (SFT) → incometax.gov.in
File Form 61B (if applicable) → incometax.gov.in
File Form 10BD + issue Form 10BE → incometax.gov.in
File superannuation fund returns → incometax.gov.in
Submit pending PAN applications → nsdl.com
Quick Reference — All Official Portals 🔗
Portal | What it's for | Link |
|---|---|---|
Income Tax Portal | ITR filing, TDS payment, Form 61A, 10BD | |
GST Portal | GSTR-1, GSTR-3B, IFF, Challan PMT-06 | |
TRACES | TDS/TCS certificates, TDS returns 24Q/26Q/27Q | |
TIN NSDL | TDS/TCS return filing alternative | |
EPFO Portal | PF deposits and returns | |
ESIC Portal | ESI deposits and returns | |
MCA Portal | LLP Form 11, company filings | |
PAN Application | New PAN allotment |
How hisabkitab Helps You Stay Compliant in May
Staying on top of 20+ deadlines across 8 different government portals is stressful — especially when your books aren't in order. As practising CAs, we built hisabkitab specifically to solve this problem for Indian businesses.
TDS/TCS reports: Pull April deduction data in one click — ready for TRACES filing, no manual working
GSTR-1 auto-generation: Sales invoices automatically compile into GST return data — file on gst.gov.in in minutes
Vendor PAN validation: Instantly spot vendors with missing PANs before it costs you 20% TDS
AIS reconciliation: Generate party-wise and month-wise transaction summaries that match exactly with your AIS
CA-ready exports: Share clean, formatted reports with your CA so filings happen faster across all portals
👉 Start free at hisabkitab.co | Book a Demo: calendly.com/hisabkitab/democall | Call: +91-7285871111
Missed April's deadlines? Check if anything is still recoverable — April 2026 Compliance Calendar →
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