Filing ITR Before June 15? You Could Get a Tax

Filing your ITR for AY 2026-27 too early can backfire. Your AIS may be incomplete, your employer's TDS may not be uploaded yet, and banks may not have reported interest income — all of which can trigger notices from the income tax department.

Here's what happened: ITR filing utilities for AY 2026-27 are live now, tempting many salaried taxpayers to file immediately in April or May.. Annual Information Statement (AIS) data is populated only after all third parties — employers, banks, brokers — submit their filings, which happens mostly by May-June.. Filing before your AIS is fully updated risks income mismatches, which the Income Tax Department flags automatically and may issue a notice under Section 143(1)..

What you should do: Wait until at least June 15 before filing your ITR — by then, most TDS filings and AIS updates will be complete and reconciled.. Log into the Income Tax portal and check your AIS and Form 26AS now to spot any missing or incorrect entries from banks, brokers, or your employer.. Cross-check your Form 16 (from employer), bank FD interest certificates, and capital gains statements from mutual funds or brokers before entering any figures in your ITR..

If you already filed early and spot a mismatch, file a revised return before July 31, 2025 — there's no penalty for revising, but ignoring a notice can attract a 200% penalty on tax dues.