ITR Filing Before May 31? You May Get Notice

ITR Filing 2026: There is a important news for taxpayers. The next two months, that is, the upcoming June and July, are going to be very important months for those who pay income tax. Also the current month ie May is going to big lesson for everyone. Wanna know why? Many people believe that submitting your ITR promptly guarantees a swift refund, but that’s a misconception. As the saying goes, haste makes waste. This principle applies to taxpayers who submit their ITR before June 15th.

Filing your ITR before June 15th could lead to more complications. Not only might your refund be postponed, but you could also face additional issues. Let’s break down in straightforward terms why it’s advisable to wait until after June 15th to file your tax return, as doing so could trigger a notice from the tax authorities.

If you’re working, you’re probably aware of the significance of Form 16 when it comes to filing income taxes. This form provides a detailed summary of your earnings and taxes for the year. All companies across the nation must submit their TDS returns for the last quarter of the financial year to the government by May 31st. Only after this can they issue Form 16s to their employees by June 15th.

You might receive an income tax notice at your residence

If you attempt to file your ITR in May, you won’t have an official Form 16 available. Instead, you’ll be relying on outdated estimates or your salary slips. If your company later issues Form 16 and there are discrepancies between it and your ITR, your refund could be delayed. Furthermore, you might get a notice from the Income Tax Department. Additionally, your AIS won’t be fully updated until the first or second week of June. If you filed your ITR in May and your AIS reflects income in June that wasn’t included in your ITR, expect a notice to arrive at your home.

Many individuals think they can file now and, if discrepancies arise, they can submit a revised return. While this may seem straightforward, it actually places you under the watchful eye of the Income Tax Department. Plus, you’ll incur an extra fee for a CA’s assistance.

When is the ideal time to file your ITR?

The optimal time to submit your ITR is in June. Collect all your documents between June 1st and June 15th, and then secure Form 16 from your employer by June 15th.

Why is it critical to file by the due date?

The filing deadline for FY25 (AY 2025-26) is July 31, 2025. Filing by this date is critical for carrying forward losses. Capital losses can be carried forward for up to eight assessment years, but only if the return is filed on time.

Under Section 80, losses not filed within the due date are not eligible for future set-off, making timely filing essential. Correct form selection and meeting deadlines allow investors and taxpayers to manage capital gains efficiently while preserving loss set-off rights for future tax planning.