6 Common Mistakes to Avoid While Filing ITR
6 Common Mistakes to Avoid While Filing ITR
Introduction
Filing your Income Tax Return (ITR) correctly is just as important as filing it on time. Here are six common mistakes taxpayers make — and how to avoid them — for a smooth and compliant ITR process.
1. Using the Wrong ITR Form
Different ITR forms apply to different types of taxpayers. Using the wrong form can lead to rejection or penalties. Always confirm which ITR form applies to your source(s) of income.
2. Not Reporting All Sources of Income
Many forget to report:
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Freelance/side incomes
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Interest from savings and fixed deposits
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Tax-free income (which still must be disclosed)
Ensure all income sources are declared.
3. Incorrect Claims Under HRA
Claiming House Rent Allowance (HRA) without proper rent receipts or landlord details can lead to scrutiny. Ensure proper documentation is available.
4. Ignoring Annual Information Statement (AIS)
AIS includes a comprehensive summary of financial transactions. Not verifying it can lead to discrepancies between your filed return and actual data.
5. Not Checking Form 26AS
This form reflects TDS deducted and tax payments made. Any mismatch between Form 26AS and your return can trigger a notice.
6. Forgetting to Verify Your ITR
Filing your ITR is only the first step. If you don’t e-verify or send a signed physical copy to the CPC within the due time, your return will be treated as invalid.
Conclusion
Avoiding these common mistakes ensures hassle-free ITR processing and avoids penalties or refund delays. Always review thoroughly before submission.
