New Delhi: The income tax filing portal typically opens on April 1, 2026. For most individual taxpayers, the deadline for filing income tax returns is July 31, 2026. Although the portal becomes accessible on April 1, 2026, the actual filing process gains momentum only after the backend systems are fully updated and stabilised.
Consequently, the activity of filing ITRs usually picks up around mid-May each year. However, filing one’s ITR early is generally considered a good practice, as it ensures compliance with regulations.
According to tax experts, individuals are advised not to rush to submit their returns before June 15, 2026. During the initial weeks of the filing season, certain tax-related documents and details may still be in the process of being updated.
What to do in mid-June?
According to Nishant Shankar—a tax strategy expert and former Senior Tax Manager at EY—details regarding TDS, interest income, and high-value transactions are typically uploaded by employers, banks, and financial institutions by May 31.
It may take a few additional weeks for these details to be fully reflected and accurately updated in Form 26AS, the Annual Information Statement (AIS), and the Taxpayer Information Summary (TIS). Another practical issue is that financial institutions and employers may subsequently make changes or corrections to their filings. In many instances, revised returns, corrected interest reporting, or updated securities transaction data become available in the system only after the initial uploads.
It often happens that taxpayers file their returns prematurely. By doing so, they risk underreporting their income or claiming incorrect TDS credits.
Do you need to exercise caution when filing your ITR?
According to Shankar, for taxpayers who have capital gains, multiple bank accounts, foreign assets, business income, or significant financial transactions, it is even more crucial to avoid rushing to file their income tax returns. For such taxpayers, it becomes imperative to reconcile their AIS, Form 26AS, Form 16/Form 16A, and other transaction records before filing their returns.
Key Points Regarding Revised TDS Returns Filed by Employers or Deductors
Shankar explained that current income tax scrutiny is largely system-based. If the income declared in the ITR does not match the data in the AIS, Form 26AS, or SFT, the system may flag that return.
Expert Opinion
According to Siddharth Maurya, Founder and Managing Director of Vibhavangal Anukulakara Private Limited, while the AIS certainly serves as a useful guide, it should not be treated as the definitive document, as there are several areas where the data may be incomplete, duplicated, or misclassified.