Next ITR filing in July 2027: Here's the month-wise checklist salaried taxpayers should follow starting today

Salaried taxpayers will need to file their tax returns for Tax Year 2026-27 in July 2027. The tax year runs from 1 April 2026 to 31 March 2027.

While the filing deadline is still months away, keeping your documents, investments, and tax records updated from now can make ITR filing much smoother.

Here’s what salaried taxpayers should do from September 2026 onwards.

What is the month-wise checklist salaried taxpayers should follow?

Isha Sekhri, Founder, Isha Sekhri & Associates LLP, suggested that taxpayers can follow a simple checklist from September 2026 to stay on track.

• September 2026: Check interest and dividend income and whether advance tax is payable.
• October 2026: Reconcile bank, broker, and mutual fund statements and raise AIS feedback on mismatches.
• November 2026: If leaning towards the old regime, check all receipts needed for deductions.
• December 2026: Review total income and pay the third advance-tax instalment by 15 December, if applicable.
• January 2027: Confirm the final tax proofs required by your employer.
• February 2027: Finalise your tax computation, compare both regimes and invest only where useful.
• March 2027: Collate mutual fund, investment, interest and dividend records. Complete eligible investments by 31 March and pay the fourth advance-tax instalment by 15 March, if applicable.

What changed for salaried taxpayers under the new Income Tax Act?

The Income Tax Act, 2025 is effective from Tax Year 2026-27 and covers income earned from 1 April 2026. It replaces the Assessment Year and Previous Year terminology with a single “Tax Year,” Sekhri explained.

She further added that for salaried taxpayers, many familiar concepts will continue, but the section numbers have changed. ITR forms will be released next year, while the ITR filing deadline remains 31 July 2027.

What documents should salaried taxpayers maintain?

Sekhri suggested maintaining the following documents in one running digital folder.

• Salary: Monthly slips, prior-employer details if you switched jobs.
• Investments: Bank/interest, dividend statements, mutual fund CAS, demat and broker capital-gains statements.
• Property: Rent agreement/receipts and home-loan interest certificates.
• Deductions: Insurance premium, NPS, tuition and donation receipts.

She also suggested tracking foreign assets and crypto transactions. Maintaining a simple tracker and reconciling it with AIS every quarter can help identify discrepancies early. Form 16 (now Form 130) will be provided by the employer in May/June 2027.

How should taxpayers check AIS and Form 26AS?

Form 26AS is the TDS/TCS ledger, while AIS is broader and also covers reported financial transactions. Sekhri advised taxpayers to check both on a quarterly basis, as they are generally updated within 45 days of the quarter-end, and conduct a final check before filing the ITR.

Taxpayers can submit feedback against AIS entries and revise it any number of times. For a TDS mismatch, ask the deductor to correct its TDS return, as Form 26AS pulls information from that filing, she added.

How should taxpayers prepare for deductions before 31 March 2027?

Start with which regime you'll actually use - the new regime (default) allows only the ₹75,000 standard deduction and a few others; the old regime keeps a wider list, Sekhri said.

If the old regime suits you, plan for the ₹1.5 lakh deduction basket, NPS and home-loan interest, along with HRA and donation receipts. Collect documents as you go instead of waiting until March 2027, she added.

How should taxpayers compare the two tax regimes?

Compare the old and new tax regimes in September 2026, revisit the calculation after any bonus or variable pay, and finalise the choice in February 2027, Sekhri suggested.

However, salaried taxpayers with no business or professional income can choose either regime while filing their ITR, regardless of what was declared to the employer for TDS, she added.

Disclaimer: This is only for informational and educational purposes. Please consult a qualified expert for the latest laws and regulations.