Perovskite solar cells (PSCs) are considered as one of the most promising alternatives for existing solar cells due to its excellent optoelectronic properties and high efficiency. However, lead has posed a serious issue due to its toxicity which may hinder the commercial use of lead‐based perovskite solar panels/arrays. There has been substantial work progress to find an environment‐friendly alternative metal ion to replace lead. Tin (Sn)‐based PSCs have been successfully synthesized and optimized with high efficiency, making it the most promising active material for lead‐free PSCs. In this review, the role of J–V hysteresis in tin halide PSCs is discussed from the perspective of system structure, working concepts, and interfacial carrier dynamics in detail. The problem of hysteresis in PSCs is closely linked to ion migration, ferroelectric effects, capacitive effects, and trap‐assisted recombination processes, which are highlighted in this review. Further, remediation to reduce the hysteresis by various strategies is explained for tin‐based perovskites. The core focus of this review is to analyze the deterioration of device performance and stability caused due to the generation of defects in the perovskite films, leading to a time‐dependent hysteresis of the current–voltage curves.