Taxpayers Must Be Aware of June ITR Filing Deadlines for 2026

Income Tax Filing Season Begins in India: Experts Advise Taxpayers to Tread Cautiously

The Income Tax Return (ITR) filing season has officially commenced in India, with the e-filing portal now active for taxpayers to submit their returns. However, tax experts are cautioning individuals to carefully review their financial documents and ensure they have all necessary information before filing their returns.

June Income Tax Checklist: What to Track This Month

Taxpayers need to be aware of several key deadlines and documents in the month of June to ensure a smooth filing experience. Here's a breakdown of what to track this month:

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Wait for Your Form 16

For salaried individuals, the first major trigger occurs on June 15, which is the statutory deadline for employers to issue Form 16. This document serves as a definitive certificate of total salary earned and taxes deducted at source (TDS) throughout the financial year.

Form 16 contains consolidated details of salary income, exemptions, deductions, TDS deducted, and tax computations. Using Form 16 helps ensure accuracy while filing the ITR. Without Form 16, taxpayers may have to rely on scattered records such as multiple payslips and separate documents, increasing the possibility of errors or omissions.

Check Form 26AS and AIS in Mid-June

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As banks and financial institutions had until May 31 to file their quarterly TDS and Statement of Financial Transaction (SFT) returns, Form 26AS and the Annual Information Statement (AIS) are expected to undergo a significant data refresh during the first two weeks of June. Tax experts recommend waiting until at least the second week of June before filing an income tax return.

Form 26AS includes details of Tax Deducted at Source (TDS) on salary, bank interest, and other income, Tax Collected at Source (TCS), advance tax, and self-assessment tax paid by the taxpayer, as well as income tax refunds issued by the Income Tax Department. The AIS provides a comprehensive view of various financial transactions linked to a taxpayer's PAN.

The AIS data is used by the Income Tax Department to verify information reported in tax returns. Any mismatch between the two may attract scrutiny. Differences between Form 16, AIS, and Form 26AS may result in incorrect reporting and could trigger notices from the tax department.

June 15 Advance Tax Deadline

Simultaneously, June 15 marks the deadline for the first installment of advance tax for the financial year. If you have significant non-salary income, such as freelance fees, professional consulting charges, rental income, or investors accumulating early capital gains, you cannot afford to skip this. You must compute your estimated tax liability for the year and deposit 15 percent of it by June 15 to avoid paying interest penalties later under Sections 234B and 234C.