The Income-Tax Department has released all ITR forms for FY26 and AY27, but experts are advising salaried taxpayers to wait until at least June 15 before filing returns to avoid mismatches and possible notices.
The Income-Tax Department has officially released all Income Tax Return (ITR) forms from ITR-1 to ITR-7 for the financial year 2025-26 and assessment year 2026-27, along with Excel utilities for ITR-1 and ITR-4.
This means taxpayers can now begin preparing their returns offline before uploading them through the official e-filing portal. However, tax experts are warning salaried employees against rushing to file returns immediately.
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Why experts say salaried taxpayers should wait
According to tax professionals, salaried taxpayers should ideally wait until at least June 15 before filing income tax returns.
The reason is linked to key tax documents including:
- Form 16
- Form 16A
- Form 26AS
- Annual Information Statement (AIS)
Banks, employers, mutual fund houses, brokers and other reporting entities have until May 31 to update financial transaction details and TDS records.
Even after submission, the information may take another seven to ten days to fully reflect in AIS and Form 26AS.
Filing too early could trigger mismatch notices
Experts warn that filing returns before all financial records are updated could lead to mismatches between taxpayer declarations and official tax records.
This may result in:
- Income-tax notices
- Delayed refunds
- Correction requests
- Revised return filings later
Tax professionals say the safest filing window for salaried employees is usually between June 15 and a few days before the July 31 deadline.
Who can still file returns early?
Certain taxpayers may still file early if they:
- Do not depend on Form 16
- Have no pending AIS updates
- Only earn fixed income such as rent or interest
- Have no unreported capital gains transactions
However, experts still recommend carefully cross-checking all records before submission.
Important checks before filing ITR
Tax experts advise taxpayers to verify the following before filing returns:
- Match AIS with Form 26AS and bank statements
- Verify TDS deductions carefully
- Check capital gains details with broker reports
- Review carry-forward losses
- Confirm deductions under Chapter VI-A
- Verify bank details for refunds
Ensure foreign asset disclosures are accurate, if applicable
Correct ITR form remains important
The Income-Tax Department has also reminded taxpayers to select the correct ITR form while filing returns.
Using the wrong form could lead to defective return notices or processing delays.
Taxpayers can download the forms and utilities directly from the official income tax e-filing portal and upload the JSON file after verification.
(Disclaimer: This article is intended for informational and educational purposes only. Tax rules and filing requirements may vary depending on individual income, employment status and financial transactions. Readers are advised to consult certified tax professionals or refer to official Income-Tax Department guidelines before filing returns or making financial decisions.)
Published: 20 May 2026, 11:49 am IST
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