Avoid ITR Filing Errors: Why the June 15 Deadline Matters

Efficiency is usually a virtue, but when it comes to filing your Income Tax Return for the Assessment Year 2026-27, being too early can be a costly mistake. Many taxpayers believe that filing in April or May will result in faster refunds. While early birds do get processed sooner, they also face a higher risk of receiving notices under Section 139(9) for 'defective returns.' The final date for employers to issue Form 16 to their employees is June 15. This document is essential as it provides a comprehensive breakdown of the salary earned and the tax deducted throughout the year. Filing your ITR without your Form 16 is essentially guesswork. Additionally, banks and other financial entities have until the end of May to report interest income through the Statement of Financial Transactions (SFT). Waiting until mid-June ensures your AIS, TIS, and 26AS are in sync, providing a clear and accurate picture of your tax liability.