Khush Dharmeshkumar Trivedi | May 1, 2026 |
May 2026 Compliance Tracker: Critical Tax Deadlines for Professionals
INTRODUCTION
If you are a tax professional or Business owner & don’t want to pay any Interest, penalties or late Fees in the upcoming month, then this article is for you.
As May 26 is heavy on TDS, GST Fillings & Other Routine Compliances & missing these deadlines can lead to unnecessary Compliance hassles & notices. It is the month where you will wrap up final filings of the OLD Financial Year 25-26, while starting with new compliances under the new Income Tax Act 2025
INCOME TAX COMPLIANCES
As soon as you have paid TDS for March 26 by 30th April 2026. It’s time to file the necessary TDS returns for Q4. As it is the final TDS return for the FY 25-26, one has to reconcile the books with the earlier returns filed for respective quarters in order to reduce hurdles during the finalisation of books & Audit.
| Due Date | Compliance Action | Period | Warning / Penalty |
07-May-26 | TDS/TCS Deposit: Payment of tax deducted/collected in April as per New Income Tax Act 2025 | Apr-26 | Interest: 1.5% per month for late payment. |
| 15-May-26 | Quarterly TDS Return: Filing Form 27EQ | Jan–Mar 26 | Late Fee: ₹200/day. |
30-May-26 | Challan-cum-Statement: Forms 26QB/26QC/26QD for property/rent. | Apr-26 | Late Fee: ₹200/day. High risk of notice for high-value transactions. |
31-May-26 | Quarterly TDS Return: Filing Forms 24Q, 26Q, and 27Q. | Jan–Mar 26 | Late Fee: ₹200/day. |
| 31-May-26 | SFT Filing: Statement of Financial Transactions (Form 61A). | FY 2025-26 | Penalty: ₹500–1,000 per day. Flat ₹50k for inaccurate data. |
GST COMPLIANCES
It’s very crucial to comply with GST compliance, as it comprises various returns for various types of taxpayers. Hence, one has to accurately file all necessary returns & comply with all requirements, or it leads to serious consequences.
For April 26, one should remember the following deadlines:
Due Date | Return / Form | Type of Taxpayer | Warning / Penalty |
10-May-26 | GSTR-7 & GSTR-8 | TDS (Govt) / TCS (E-commerce) | Late Fee: ₹50/day. Blocks credit for the deductee. |
| 11-May-26 | GSTR-1 | Monthly Filers (Outward Supplies) | Late Fee: ₹50/day. Critical: Blocks GSTR-3B filing. |
13-May-26 | IFF / GSTR-5 / GSTR-6 | QRMP / NRTP / ISD | Warning: Missing IFF prevents buyers from claiming ITC. |
| 20-May-26 | GSTR-3B | Monthly Summary Return | Interest: 18% p.a. + Late Fee. Risk of GSTIN suspension. |
20-May-26 | GSTR-5A | OIDAR Service Providers | Late Fee: ₹100/day or ₹200/day |
| 25-May-26 | PMT-06 | QRMP Taxpayers (Payment) | Interest: 18% p.a. if tax deposit is insufficient. |
ROC COMPLIANCES
MCA Compliance are very important to maintain the active status of companies & LLPs. But there are no Monthly requirements like GST or TDS. But a Company has to fulfil all necessary requirements to stay compliant.
For May 26, Companies & LLPs Should not miss these deadlines
Due Date | Form Name | Applicable To | Warning / Penalty |
30-May-26 | LLP Form 11 | All LLPs (Annual Return) | Late Fee: ₹100 per day. No upper cap on the total penalty. |
| 30-May-26 | PAS-6 | Unlisted Public Companies | Note: Half-yearly reconciliation of share capital. |
Event-Based | PAS-3 / DIR-12 | Share allotment/Appointment or Resignation of Director & KMP | Warning: Must be filed within 30 days of the event. |
COMPLIANCES FOR EMPLOYERS
Being an Employer, you need to stay compliant with PF/ESI Regulations as timely deduction & deposition with authorities
Due Date | Compliance Task | Period | Warning / Penalty |
| 12-May-26 | ESI Half-Yearly Return | Oct 25–Mar 26 | Note: Filing for the previous 6-month contribution period. |
15-May-26 | EPF & ESI Deposit | Apr-26 | Severe: Late employee share payment is now taxable income for the employer u/s 36 of the IT Act 1961. |
15-May-26 | Professional Tax (PT) | Apr-26 | Penalty: 1.25%–2% per month (varies by state, like GJ/MH). |
CRUX OF ARTICLE
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