Filing Income Tax Returns can be complex, and taxpayers often make mistakes that lead to notices from the Income Tax Department. Here are some of the most common errors to avoid:
- Choosing the Wrong ITR Form: Selecting the incorrect form (e.g. using ITR-1 instead of ITR-2 when you have capital gains) invalidates your return.
- Not Reporting All Income: Income from savings bank interest, FDs, dividends, and minor freelancing gigs must be fully reported.
- Ignoring Form 26AS/AIS: Always reconcile your TDS with Form 26AS and Annual Information Statement (AIS) before submitting. Discrepancies here trigger automatic notices.
- Forgetting to Verify the Return: Your ITR filing is incomplete without e-verification. You must verify within 30 days of filing.
- Incorrect Personal Details: Double-check your PAN, Aadhaar linking, bank account number, and IFSC code to prevent refund failures.
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