Running a business means meeting regular deadlines for taxes and filings. The good news is that most dates repeat every month, quarter or year. Once you set reminders, compliance becomes routine.
Income tax basics for small businesses
- Proprietors pay income tax on business profits at personal slab rates.
- Presumptive taxation: small businesses and certain professionals can declare income at a prescribed percentage of turnover or receipts and skip detailed books, within set turnover limits. This can greatly reduce compliance for very small businesses.
- Firms, LLPs and companies pay tax at their own applicable rates.
- India's new Income-tax Act, 2025 took effect from 1 April 2026 and renumbered many familiar sections. Your accountant will map the old section names you may hear to the new law.
Monthly calendar
| Due date | What | Who |
|---|---|---|
| 7th | Deposit TDS/TCS deducted in the previous month | Businesses deducting tax at source |
| 11th | GSTR-1 (monthly filers) | Regular GST taxpayers |
| 15th | EPF and ESI contributions | Employers registered under EPF/ESI |
| 20th | GSTR-3B (monthly filers) | Regular GST taxpayers |
Quarterly (QRMP) GST filers file GSTR-1 by the 13th and GSTR-3B by the 22nd or 24th of the month after the quarter, depending on their state, and pay tax monthly.
Advance tax instalments
| Due date | Cumulative advance tax payable |
|---|---|
| 15 June | 15% |
| 15 September | 45% |
| 15 December | 75% |
| 15 March | 100% |
Businesses under presumptive taxation can generally pay their entire advance tax in one instalment by 15 March.
Quarterly and annual deadlines
- TDS returns: quarterly, typically by 31 July, 31 October, 31 January and 31 May.
- Composition taxpayers: CMP-08 by the 18th of the month after each quarter, and an annual return.
- Income tax return: generally 31 July for businesses not needing an audit, and 31 October for those requiring a tax audit (audit report usually due earlier, by 30 September).
- GST annual return: generally by 31 December for taxpayers above the notified turnover limit.
- LLPs: annual return (Form 11) by 30 May and statement of accounts (Form 8) by 30 October.
- Private companies: annual general meeting within six months of the financial year end, followed by financial statements and annual return filings with the MCA.
- Licence renewals: FSSAI, trade licence and similar renewals as per their validity.
Tips to stay on track
- Set calendar reminders a few days before every due date.
- Keep a separate account or fund for GST and income tax.
- File "nil" returns on time even in months with no sales.
- Check the official portals and your accountant's updates, as due dates are sometimes extended or changed.
- Respond quickly to any notice from tax authorities.
Thank you for following the series
From choosing a structure to staying compliant, we hope Start a Small Business in India has given you a clear roadmap. Start small, keep good records and grow step by step.
Start a Small Business in India: the full series
- Part 1: Choosing Your Business Structure
- Part 2: Registrations and Licences Checklist
- Part 3: Udyam (MSME) Registration
- Part 4: GST Registration and Composition Scheme
- Part 5: Bank Account and Digital Payments
- Part 6: How to Price Your Products and Services
- Part 7: Invoicing and Bookkeeping
- Part 8: Getting Your First Customers
- Part 9: Funding and Government Loan Schemes
- Part 10: Taxes and Compliance Calendar (you are here)
Disclaimer: This article is for general information only and is not legal, tax or financial advice. Rules, limits and fees change from time to time, so please check official government portals and consult a chartered accountant or company secretary for your specific situation.
