22/05/2025
Important Advisory for All Taxpayers – Don’t Rush to File Your ITR
As the ITR filing window opens, it’s important to exercise caution before filing your return. The infographic below from Mint explains why early filing may lead to mismatches, especially if your Form 26AS and AIS are not yet updated.
Key points to note:
The deadline for TDS and SFT filing is 31st May, and it takes around a week or more for the data to reflect in AIS/Form 26AS.
Filing your ITR before these are updated can result in discrepancies, notices from the IT department, and even penalties.
It's advised to wait till mid-June for accurate data before proceeding with your ITR.
What should you do?
Wait for Form 26AS and AIS updates (usually by 15th June).
Cross-check and compile your financial information accordingly.
File your ITR only after verifying all entries match with the tax portal to avoid future complications.
This small step can help avoid big troubles.
Read the full article here:
Mint Source Article
https://www.livemint.com/money/personal-finance/income-tax-return-itr-filing-deadline-tsc-tds-high-value-transactions-capital-gains-interest-income-ais-sft-26as-11747374378550.html
CA Bhavesh Thakkar
CEO, Prosecure Investment Consultant
9821119565
Bhavesh Thakkar
https://linktr.ee/prosecureinvestment