Don't Miss These 4 Major Deadlines in September; Complete Your Tasks on Time

Several major tax-related deadlines fall in September, making it a crucial month for business owners and salaried individuals alike; make sure to note these dates now to ensure your tasks are completed on time.

September is a significant month for taxpayers, business owners, and professionals, as it marks the arrival of several major deadlines concerning TDS and TCS payments, advance tax, and tax audit reports. Missing the stipulated deadline for essential tasks could result in hefty penalties or interest charges. To avoid any oversights, take note of the relevant dates right away.

First Deadline: TDS/TCS Deposit

The first major deadline is September 7. Any tax (TDS/TCS) deducted on payments such as salaries, rent, professional fees, or contractual payments during August 2026 must be deposited with the Central Government by this date. This applies to businesses, employers, and other deductors or collectors required to deduct TDS or collect TCS.

In certain cases, government offices follow different payment protocols, requiring tax payment on the same day without a challan. This date is also critical for uploading specific declarations received in August under the new income-tax rules.

Second Deadline: Last Date for Issuing TDS Certificates

September 14 is the deadline for issuing TDS certificates—specifically Form 132—for taxes deducted in July 2026. These certificates are essential for employees and other taxpayers whose income has been subject to TDS deduction. They allow individuals to verify whether the deducted tax has been accurately recorded in their tax files. Any discrepancy between the deducted tax and the figures reflected in the taxpayer's records can create complications when filing or reconciling income-tax returns. Third Deadline: Second Installment of Advance Tax

By this date, taxpayers must have deposited at least 45% of their estimated total annual tax liability (inclusive of the first installment) as advance tax. If the stipulated 45% of the tax is not deposited by this date, interest begins to accrue on the outstanding amount under Sections 234B and 234C of the Income Tax Act.

Fourth Deadline: Tax Audit Report

The final major deadline is September 30, particularly for businesses and professionals whose accounts are subject to a mandatory tax audit. This means that business owners whose annual turnover—or professionals whose gross receipts—exceed the prescribed threshold must have their accounts audited and upload the tax audit report (Forms 3CA/3CB and 3CD) to the portal via a Chartered Accountant (CA) by September 30, 2026.

Generally, the tax audit report for Assessment Year 2026-27 must be filed one month prior to the income tax return deadline; therefore, taxpayers required to file an audited return by October 31 must submit the audit report by September 30.