Salaried taxpayers: Month-by-month ITR prep plan for July 2027 filing (Tax Year 2026-27)

As the July 2027 ITR filing window for the 2026-27 financial year approaches, salaried taxpayers are advised to start preparing now. A systematic approach can help reduce last-minute errors and ensure the correct tax liability is calculated. Key steps to initiate the process Collect Form 16 and salary slips from your employer, along with any TDS certificates. Review Form 26AS and the Annual Information Statement (AIS) to confirm income and tax credits align with your records. Assess deductible investments and expenses such as sections 80C, 80D, 80G, and home loan interest where applicable. Compare the old and new tax regimes to decide the most beneficial option for the year. Month-by-month checklist April 2027: Ensure access to the e-filing portal, update contact details, and begin gathering essential documents (Form 16, salary slips, investment proofs). May 2027: Reconcile salary income with Form 26AS and AIS; compile proofs of deductions under 80C, 80D, 80G, and other eligible sections; verify rent and HRA details if applicable. June 2027: Finalize all proofs of investments and deductions; run a comparison of tax liability under both regimes; check for any mismatches between AIS, Form 26AS, and your records. July 2027: Prepare and submit the ITR; verify electronically (e-verify) or through other accepted methods; retain the acknowledgement for records. Keeping documents organized and verified now can reduce errors and speed up filing once the deadline approaches.