Income Tax Filing 2026: The Risks of Submitting Your Return Too Early

For the Assessment Year 2026-27, the Income Tax Department continues to emphasize data-driven compliance. This means that every rupee of income reported by your bank, broker, or employer is mapped to your PAN. For taxpayers looking to file their returns early in the season, there is a critical window of uncertainty that lasts until June 15. The month of May is a period of intense reporting for deductors. Companies are busy finalizing their TDS returns for the January-March quarter. Until these returns are processed, your Form 26AS will show an incomplete picture of your total tax paid. Filing an ITR based on incomplete data leads to a mismatch in the Tax Credit section. If the credit you claim is more than what appears in the system, the department will likely reject the claim. By waiting until June 15, you ensure access to the most updated AIS, which helps in reconciling your records and acts as a shield against future audits.