Complete these 5 tax-related tasks as September begins; missing deadlines could lead to trouble
Taxpayers face five key deadlines in September 2026 regarding TDS, TCS, advance tax, and audit reports. Here is the complete date-wise list.
September 2026 is a crucial month for taxpayers. Several important tasks must be completed, ranging from the deposit of TDS and TCS to the payment of the second installment of advance tax and the submission of audit reports. Missing any of these deadlines could result in penalties or scrutiny by the Income Tax Department.
If you handle your own tax matters or are associated with a business, trust, or organization, it is advisable to note down these September dates now.
Which dates are important in September?
| Date | What Needs to Be Done? | Who Needs to Do It? |
|---|---|---|
| September 7 | Deposit TDS/TCS for August 2026 | Taxpayers required to deposit TDS/TCS |
| September 14 | Issue Form No. 132 | Taxpayers deducting TDS |
| September 15 | Pay the second installment of Advance Tax | Taxpayers liable to pay Advance Tax |
| September 15 | Complete tasks related to Form 1 and Form No. 137 | Concerned stock exchanges and government offices |
| September 30 | Submit Form No. 141 and required audit reports | Concerned taxpayers, trusts, and institutions |
What needs to be done by September 7?
September 7 marks the first major deadline. By this date, TDS and TCS deducted or collected in August 2026 must be deposited with the Central Government. TDS/TCS collected by government authorities must also be deposited with the Central Government on this day without an income tax challan. Additionally, declarations received from buyers via Form No. 127 during August must be uploaded by this date.
What needs to be done on September 14 and 15?
Form No. 132, relating to TDS deducted in July 2026, must be issued by September 14. Following this, the September 15 deadline is particularly significant. On this day, the second installment of advance tax for the tax year 2026-27 must be paid. Furthermore, Form 1 for August 2026 must be submitted in accordance with the Income Tax Rules, 2026. This statement is issued by stock exchanges for transactions where client codes were changed after registration in the system.
Government offices where TDS/TCS for August was deposited without a challan are also required to submit Form No. 137 by September 15.
Who needs to take note of the September 30 deadline?
Several important tasks must be completed by September 30. A challan-cum-statement in Form No. 141 must be filed for the tax deducted under Section 393(1) in August 2026. Additionally, there is a deadline for submitting the audit report under Section 44AB for the Assessment Year 2026-27. This applies to corporate and non-corporate assessees whose income tax return filing date is October 31, 2026.
Trusts, funds, hospitals, universities, and educational or medical institutions are also required to submit an audit report in Form 10B or Form 10BB, as applicable.
