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May 27, 2025
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Taxpayers should avoid filing ITR before June 15: Here's why
The income tax department recently notified the income tax return (ITR) forms to be used for filing tax returns for FY 2024-25 (AY 2025-26). However, unlike previous years, when the ITR forms were notified well in advance, this year they were notified by the end of April 2025. Further, the income tax department has yet to release the utilities, i.e. the online software/forms necessary for filing ITRs. Tax experts advise postponing the filing of ITRs until June 15, 2025, even though the ITR forms are available now.
ET Wealth online explains why it is advisable to defer filing your ITR till after June 15 and the problems you can face if you file it before.
TDS Certificates such as Form 16, Form 16A are issued latest by June 15
As per income tax rules, taxpayers should get their TDS certificates, such as Form 16 or Form 16A, latest by June 15.
Chartered Accountant Prakash Hegde says, "When the taxpayer has earned any income in the last quarter of FY 2024-25 (January 1-March 31, 2025) that is subject to TDS, the payer of that income has time until May 31, 2025, to file the eTDS return with the income tax authorities. The eTDS return captures the details of the income paid to the taxpayer and tax deducted on it."
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