Filing ITR too early can lead to tax credit issues or notices. Wait till June 15 for updated TDS/TCS details. Make sure all documents match before filing.
Anisha Kumari | Jun 5, 2025 |
File ITR After June 15 to avoide Trouble: Know Why
The Income Tax Department has released ITR-1 (Sahaj) and ITR-4 (Sugam) forms for taxpayers to fill it online. People can begin the process as their waiting has ended now. The experts are advising taxpayers not to move too fast. Those whose tax has been deducted at source, either as TDS or TCS, should wait before filing.
People whose tax has been deducted should wait even though the forms are ready. The reason behind it is that their deducted tax may not yet be updated in Form 26AS. The amount of tax already paid under a person’s PAN number is shown in this form. If someone files the return before this tax credit appears in Form 26AS, the tax department might not consider it.
This means the taxpayer may lose the credit, pay extra tax or even get a notice from the Income Tax Department. Filing early without checking all the updated information can lead you to confusion and even financial loss.
It is suggested by the tax experts to wait until June 15, 2025. Most of the TDS and TCS information will be updated in Form 26AS by this time. After the updating people can file their returns confidently, knowing that all the data is complete.
Small business owners who file returns using the ITR-4 (Sugam) form should match their income details with their GST records. If the income shown in the tax return does not match the GST data, the tax department may raise questions later. It is better to make sure everything is correct and matches before filing the return.
All taxpayers are required to include every source of income in their return to save themselves for further problems. This includes income from business or job, bank interest, house rent or any other type of earnings. Even agricultural income which is not taxed should also be reported. Just because it is tax-free doesn’t mean it can be left out.
Make sure to match the information with data in Form 26AS, the Annual Information Statement (AIS) and the Taxpayer Information Summary (TIS) before submitting the return. If these documents doesn’t match then it could lead to problems. The Income Tax Department may send a notice or the processing of the return may get delayed.
Form 26AS is a document showing all the tax credits linked to a person’s PAN. It includes TDS, TCS, advance tax, and self-assessment tax. AIS is another document which provides more details about the financial activities of a person. This includes information such as bank interests, investment in shares, mutual funds and other transactions.
Both of these documents are very important for the taxpayers. Taxpayers should go through these carefully and make sure that the information given in the return matches these records before filing the return. This will help avoid mistakes and make sure the return is processed without any issues.
It may seem like a good idea filing your income tax return early but it is better to wait until June 15. This gives enough time to taxpayers for getting tax-related data updated. Filing the return after this date helps make sures that everything is correct. The chances of errors, extra tax payments, or notices from the tax department also gets reduced. Always report all types of income and make sure to documents match. Doing this simple step can save you a lot of trouble later.
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