ITR Filing: Why Salaried Taxpayers Should Wait Till Mid-June

The income-tax return season has begun. As usual, many salaried taxpayers are keen to finish the filing process quickly, especially if a refund is due. At first glance, early filing may seem like the safest thing to do. The return is filed, the job is over, and the refund process can begin.

But that is not always how it works.

For assessment year 2026-27, the last date to file the return is July 31, 2026. So, salaried taxpayers do not have to rush in the first few days of the filing season. In fact, filing too early can sometimes create avoidable problems.

The issue is not whether the taxpayer is ready. The issue is whether all the information needed for filing has reached the tax system and is showing correctly.

Wait For Form 16

For salaried employees, Form 16 is the main document for filing the income-tax return. It shows the salary paid during the year, exemptions, deductions considered by the employer, taxable salary, and tax deducted at source, according to a recent report by The Times of India.

Employers usually issue Form 16 by June 15. Filing the return before getting this document may mean relying on salary slips, bank credits, rough calculations, or partly updated details on the income-tax portal.

That can lead to mistakes.

For example, the final salary figure may change because of bonuses, arrears, leave encashment, reimbursements, perquisites, or deductions allowed by the employer. The Tax Deducted at Source (TDS) figure may also differ once the last quarter’s details are properly reflected.

A taxpayer may think the difference is small. But the tax department compares the return with information reported by the employer. If the figures do not match, the return may have to be revised later.

Your AIS May Still Be Changing

Form 26AS and the Annual Information Statement are also important. These records show TDS, tax paid, interest, dividends, securities transactions, and several other financial entries reported by different institutions.

At the start of the filing season, these statements may not always be complete.

Banks, employers, mutual funds, stock brokers, companies, and other reporting entities send information to the tax department. Some data may take time to appear. This is why a return filed too early may miss an entry that appears later.

This matters more now because many salaried taxpayers have more than just salary income. They may have fixed deposit interest, savings account interest, dividends, mutual fund redemptions, stock market gains, rent, or some freelance income.

If these are not reported correctly in the return but later show up in AIS, the department may flag a mismatch. The taxpayer may then have to revise the return or explain the difference.

Early Filing May Not Speed Up Refunds

A refund is one of the biggest reasons why people file early. But an early return does not automatically mean an early refund.

The refund will move smoothly only when the return is correct and the tax details match. If there is a difference in TDS, income, deductions, or bank account details, the refund can be held up.

So, filing in the first few days with incomplete information may actually delay the process. A return filed a little later, after checking the documents properly, can be safer.

Do Not Wait Till The Last Minute Either

This does not mean taxpayers should wait till the end of July. Last-minute filing brings its own problems. The portal may be slow, documents may be missing, and there may not be enough time to correct errors.

A better approach is to use the first half of June to collect the papers. Salaried taxpayers should wait for Form 16, download Form 26AS and AIS, check the pre-filled return, and compare the numbers.

They should also review bank interest certificates, capital gains statements, dividend details, rent income, and proof of deductions. Those who changed jobs during the year should be extra careful, because salary and TDS from both employers must be reported correctly.

The practical message is simple. File early enough to avoid the last-minute rush, but not so early that important details are still missing. For many salaried taxpayers, filing after mid-June may be the cleaner and safer option.

FAQs

1. Should salaried taxpayers file ITR before getting Form 16?

It is better to wait for Form 16, as it has the final salary, deduction and TDS details needed for accurate filing.

2. Why can filing ITR too early create problems?

AIS, Form 26AS and TDS details may still be getting updated. If the return is filed before that, mismatches may appear later.

3. Does early filing always mean faster refund?

Not necessarily. Refunds can be delayed if income, TDS, deduction or bank account details do not match the tax department’s records.