Tax Experts Advise Waiting Until Mid‑June for ITR Filing

As the ITR filing season for AY 2026‑27 begins, tax experts are advising salaried taxpayers to wait until June 15, when more reliable data sources such as the Annual Information Statement (AIS) and Statement of Financial Transactions (SFT) will be updated.

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Why the Delay Matters

Filing returns too early may cause taxpayer information to be mismatched with the information that the Income Tax Department has on hand. Lack of AIS or SFT data could cause discrepancies and potentially cause unnecessary notices or delays in refund processing, experts say.

Key Data Sources to Reconcile. Form 26AS: Includes tax credits such as advance tax, self-assessment tax, and TDS.

Annual Information Statement (AIS): The income generated by interest, dividends, securities and high-value transactions is consolidated.

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Statement of Financial Transactions (SFT): captures big financial transactions such as property purchases, mutual fund investments, and cash deposits.

Reconciling these means that the return filed will be consistent with the department’s records, reducing compliance risk.

Expert Insights

Tax professionals say employers, banks, and financial institutions often take until mid‑June to upload final TDS and transaction data. Filing before this update makes it more likely that errors are made. Waiting for returns to be correct and not getting contacted and updated is the best way for taxpayers to avoid the bother of getting notices.

Benefits of Waiting

Accuracy: Correcting all income and tax credits.

Reduced Risk: Minimizes chances of mismatches and scrutiny.

Smooth refunds: Fast refund processing is due to accurate filing.

Compliance Confidence: Strengthens taxpayer credibility with authorities.

And while the eagerness to file early is understandable, experts suggest that waiting until mid‑June is a prudent strategy for salaried taxpayers. Form 26AS, AIS, and SFT data are together for this reason to avoid mismatches, and in turn for smooth compliance and quicker refunds. The time is now to invest in tax preparation and the time will be much more effective later on.