Why you should Avoid Premature ITR Filing Due to Incomplete TDS Records
The date of filing the income tax return has been extended to 15th September for AY 2025-26. Though the return can be filed now, still it would be advisable to delay it for some more days. This is a caution while filing your Income Tax Return (ITR) for the current assessment year.
In many cases, employers delay filing the TDS for March, resulting in incomplete TDS data in Form 26AS as of May. Filing your return too early may lead to discrepancies and could potentially trigger a notice from the Income Tax Department.
Recommendation:
It is advisable to wait until after 20th June to file your return, ensuring that your Form 26AS reflects the complete TDS details. Filing after this date reduces the risk of mismatch and the need for future revisions. There are often the delay in filing the TDS return by the deductor or there is often delay in correcting the TDS return by the deductor.
Please Note:
There may also be inconsistencies in the AIS (Annual Information Statement) and TIS (Taxpayer Information Summary). These reports should be cross-verified with your original financial records before proceeding with the return filing to ensure accuracy.
