At the very first instance, it has been a great step by the government that they have made available the ITR forms on 1st Day of April itself. Although the last date of filing ITR is 31st July for individuals, people have already started filing returns from the first week of April itself. But, as a professional, there are few points which I would like to highlight regarding filing of returns before 15th May. Let us discuss about income tax return for salaried class, for whom Form 16 and 26AS are the basis for filing ITR .

  1. What is 26AS? 26AS is nothing but a statement of TDS deducted by employer on your salary. Credit of TDS in 26AS of individuals is reflected only after filing of TDS returns by employers. Nowadays Form 16 is directly generated from TDS website (TRACES) after filing of TDS returns.
  1. Due date of TDS return: The due date of filing TDS returns for the March quarter is 15th This implies that your 26AS will not be updated & you will not get Form 16 from the employer before 15th May.
  1. Appropriate date of filing ITR by individuals: The best time to file ITRs by individuals is from 16th May to 31st Why so?????

If you file your ITR before 15th May, it may happen that there are differences in the TDS reflected in your salary slips and the TDS in Form 16.

From statistics of last year, it was observed that 70 – 80 % of notices u/s 143(1) issued by IT department were because of the mismatch of TDS claimed in ITR and TDS shown in 26AS. This can be avoided simply by filing ITR after 15th May.

Government is motivating people to file income tax returns at the earliest, but early filing of returns may lead to more discrepancies in TDS amount, resulting in demand of tax and interest from TAXMAN, thus increasing trouble for taxpayers. Government should also advance the date of filing TDS returns from the next year so that the true spirit of early availability of ITR forms is achieved.

So let us not rush and wait for the employers to file TDS returns first.

Thanks for reading!

-CA Mohit Bansal, Nagpur

More Under Income Tax


  1. santoshkumar maradi says:

    Hi I am individual want file tax return efiling through itr1 but it shows it is over then what can do to claim by my tax return to file in income tax office any provision is their appeal are any other way my 16 A form is 2014-15. Please advice me .

  2. Ramesh Kumar Thakur says:

    The intention of Government regarding FILING of DIFFRENT ITR is not satisfactory, govt. only announces the last date of ITR without knowing the difficulties of tax payers even Gov. Department not issuing the TDS/TCS AND even THE BANKS not filing the TAX DEDUCTION REPORT on due time and due to this type of problem only the middle classes of assessee’s are suffering. I think Govt. should think.

  3. Mehul Mittal says:

    It would be better if you post the best date is 1st June, 2016

    Because the TDS Return filed on 15th May, 2016 will get reflected in 26AS by 30th May, 2016

    It takes 15 days for processing in peak days of TDS Return processing.

  4. Surender K Singal says:

    For last quarter, TDS can be deposited upto May, as there have to be credit provision of interest to depositors / creditors as year ending provision, which may not be paid within 31st March; As such, filing of TDS return may not be advanced, as hinted by the author;

  5. Ramachandran Venkataraman says:

    Banks invariably do not send 16 forms or send it late. Is there no other method of downloading 16 form direct from TRACES . even if it is possible to get TAN of the bank. how to get TAN

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