With the Income Tax Department enabling return filing forms for Assessment Year 2026-27, many taxpayers may be tempted to complete the process as early as possible. However, tax experts are urging caution, warning that filing returns before crucial tax documents are fully updated could create unnecessary complications later.
While the online filing portal is operational, important records such as Form 16, Form 26AS and the Annual Information Statement are still being updated. Filing a return without reconciling these documents may lead to discrepancies that could require taxpayers to submit revised or updated returns at a later stage.
For most salaried individuals, waiting a few extra days could help ensure a smoother and more accurate filing experience.
Why June 15 matters for taxpayers?
According to News 18, June 15 is a key date in the income tax calendar because employers are required to issue Form 16 to employees by this deadline after completing their tax deduction reporting obligations for the financial year.
Tax experts say Form 16 remains one of the most important documents for salaried taxpayers as it contains details relating to salary income, tax deducted at source, exemptions claimed and deductions allowed.
Filing a return before receiving Form 16 increases the possibility of reporting incorrect information, particularly if there are differences between salary records and tax deductions reported by employers.
Experts also note that by mid-June, Form 26AS and the Annual Information Statement are generally updated with the latest tax and financial transaction data.
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Documents that should be verified before filing
According to News 18, tax professionals recommend carefully cross-checking Form 16 against salary slips, annual compensation statements and tax records before proceeding with return filing.
Particular attention should be paid to personal details such as PAN, name and address, along with salary figures, tax deducted at source and deductions claimed under various provisions of the Income Tax Act.
Taxpayers should also compare the information available in Form 16 with entries reflected in Form 26AS and AIS to identify any mismatch.
The Annual Information Statement provides a broader picture of an individual’s financial activity, including interest earnings, dividend income and securities transactions, making it an important tool for ensuring accuracy.
Key deadlines for AY 2026-27
According to News 18, although taxpayers are being advised to wait until June 15, there is still ample time available to file returns.
The deadline for salaried individuals, pensioners and taxpayers not requiring audit remains July 31, 2026. Certain business taxpayers have a deadline of August 31, while businesses subject to tax audit provisions must file by October 31. Taxpayers required to furnish transfer pricing reports have until November 30.
Experts stress that a carefully prepared return filed after verifying all records is far better than rushing the process and dealing with corrections later. Taking a little extra time now could help taxpayers avoid notices, mismatches and unnecessary compliance issues in the months ahead.
