Filing your Income Tax Return (ITR) online is essential to remain compliant with tax laws and avoid penalties. However, many taxpayers make common mistakes that can delay processing, result in penalties, or even lead to rejection of the return.

🚨Common Mistakes to Watch Out For

• 1️⃣ Choosing the Wrong ITR Form – Different ITR forms are designed for different types of taxpayers and income sources. Selecting the wrong form may lead to rejection or incorrect tax calculations. Always refer to the Income Tax Department’s website to ensure you choose the correct form.
• 2️⃣ Incorrect PAN or Personal Information – Errors in your PAN, name, date of birth, or address can cause mismatches with the Income Tax Department’s database, leading to rejection or processing delays.
• 3️⃣ Incorrect Bank Account Details – Providing incorrect bank account numbers or IFSC codes can delay tax refunds. Always double-check your bank details before submitting the return.
• 4️⃣ Not Claiming All Eligible Deductions – Many taxpayers forget to claim deductions under Sections 80C, 80D, 80E, and others, which can reduce tax liability. Ensure you include eligible investments, medical insurance, home loan interest, and education loan deductions.
• 5️⃣ Failing to Disclose All Income Sources – All income, including:
  ✅ Salary from multiple employers
  ✅ Interest from savings accounts, FDs, and bonds
  ✅ Freelance/Side Income
  ✅ Capital Gains from stocks or real estate
• must be disclosed. Non-disclosure is considered tax evasion and can lead to penalties.
• 6️⃣ Not E-Verifying the ITR – Filing your ITR alone is not enough—it must be e-verified within 30 days of submission. If not verified, your return is considered invalid, leading to non-compliance issues.
• 7️⃣ Filing After the Deadline – Missing the ITR filing deadline can lead to:
  ❌ Late filing penalties of up to ₹5,000
  ❌ Interest on outstanding tax under Section 234A
  ❌ Inability to carry forward certain losses
• 8️⃣ Omitting Capital Gains from Mutual Funds & Stocks – Both short-term and long-term capital gains from mutual funds, stocks, and other investments are taxable. Ensure you report them correctly to avoid scrutiny from the Income Tax Department.

✅How to Ensure an Error-Free ITR Filing?

• Choose the correct ITR form based on your income sources.
• Verify PAN, bank details, and personal information carefully.
• Claim all eligible deductions to reduce tax liability.
• Report all income sources, including capital gains.
• E-verify your return within 30 days of filing.
• File before the due date to avoid penalties.

By avoiding these common mistakes, you can ensure a smooth, error-free, and hassle-free tax filing experience! 🚀