Since its invention in 2009, Perovskite solar cells (PSCs) has attracted great attention because of its low cost, numerous options of efficiency enhancement, ease of manufacturing and high-performance. Within a short span of time, the PSC has already outperformed thin-film and multicrystalline silicon solar cells. A current certified efficiency of 25.2% demonstrates that it has the potential to replace its forerunner generations. However, to commercialize PSCs, some problems need to be addressed. The toxic nature of lead which is the major component of light absorbing layer, and inherited stability issues of fabricated devices are the major hurdles in the industrialization of this technology. Therefore, new researching areas focus on the lead-free metal halide perovskites with analogous optical and photovoltaic performances. Tin being nontoxic and as one of group IV(A) elements, is considered as the most suitable alternate for lead because of their similarities in chemical properties. Efficiencies exceeding 13% have been recorded using Tin halide perovskite based devices. This review summarizes progress made so far in this field, mainly focusing on the stability and photovoltaic performances. Role of different cations and their composition on device performances and stability have been involved and discussed. With a considerable room for enhancement of both efficiency and device stability, different optimized strategies reported so far have also been presented. Finally, the future developing trends and prospects of the PSCs are analyzed and forecasted.