Income tax calendar May 2026: Key TDS & TCS deadlines taxpayers must not miss

May 2026 includes several important compliance dates related to TDS, TCS, certificates, declarations and filing key statements. Taxpayers, deductors and government agencies may need to complete multiple filings and submissions during the month to avoid penalties and late compliance issues.

May 7 is the due date for depositing Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) for April 2026. According to the Income Tax Department website, tax deducted or collected by a government office must be credited to the central government on the same day if a payment is made without producing a challan.

May 7 is also the last date for buyers to furnish a declaration under Section 394(2) of the Income-tax Act, 2025 for obtaining goods without collection of tax in April 2026.

May 15 is the due date for issuing TDS certificates for taxes deducted in March 2026 under Sections 194-IA, 194-IB and 194M of the Income-tax Act, 1961.It is also the deadline for government agencies to submit Form 24G, where TDS or TCS for April 2026 was deposited without the presentation of a challan.

Several additional compliance filings are due on May 15, including:
● Monthly statements by stock exchanges for client code modifications made in April 2026
● Quarterly TCS statement for the quarter ending March 31, 2026
● Statements by recognised associations for amended client code transactions registered in April 2026

May 30 is the due date for issuing TCS certificates for the fourth quarter of FY 2025-26. It is also the deadline for furnishing information required under Section 285B of the Income-tax Act, 1961 for FY 2025-26.

May 30 is also the deadline for filing the challan-cum-statement for tax deduction under Section 393(1) of the Income-tax Act, 2025. Taxpayers and deductors covered under the provision are required to complete the filing within the prescribed timeline to ensure compliance.