The income tax return (ITR) filing season for Assessment Year 2025-26 has started, and many taxpayers are preparing their documents for the financial year 2024-25. However, many people still make common errors while collecting salary slips, bank interest details, and investment proofs. These small mistakes can delay your refunds, bring penalties, or even invite unwanted scrutiny from the tax department.
Here’s a look at the five major mistakes people often make while filing ITR and how you can stay away from them:
1. Not checking Form 26AS and AIS before filing
Many taxpayers ignore Form 26AS and the Annual Information Statement (AIS) while filing returns. These documents show TDS, interest income, and other financial transactions. You should match these details with your bank statement, FD interest slips, and mutual fund records. If there’s any mismatch, the income tax department can delay your return processing or even send a notice.
Tip: Always cross-check all the income and tax details in Form 26AS and AIS before final submission.
2. Forgetting to include all income sources
While salary is the primary income for many, other sources also need to be reported — like interest from savings accounts, FD, rent income, capital gains from stocks or property, and dividend earnings. Even income from older bank accounts or digital wallets needs to be declared.
Tip: Make a checklist of all your income sources so you don’t leave anything out.
3. Not verifying the return after filing
Filing the return is not the final step. You also need to verify your ITR within 30 days after filing. Otherwise, your return will be treated as invalid. Many forget this step, which causes unnecessary delays in refunds.
Tip: You can verify your ITR easily using Aadhaar OTP, Net Banking, or by sending a signed physical copy.
4. Using the wrong ITR form
Choosing the wrong ITR form is another significant error. For example, salaried individuals with income up to Rs. 50 lakh can use ITR-1, but if they have capital gains, they must switch to ITR-2. Depending on the structure, people with business income should use ITR-3 or ITR-4.
Tip: Know your income structure before selecting the form. Wrong form selection can lead to rejection or scrutiny.
5. Missing the ITR deadline
The last date for filing ITR for most individuals is 31 July 2025. Missing this deadline can cost you a fine of Rs. 1,000 to Rs. 10,000. You may also lose out on carrying forward losses or claiming some deductions.
Tip: File your ITR by early July to avoid a last-minute rush or portal errors.
Source: Navbharat Times
