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ITR Filing 2024: 10 Common Mistakes To Avoid While Filing Tax Returns At Last Minute In India

Users should avoid 10 common mistakes when filing last-minute tax returns in India: incorrect details, missing documents, ignoring deductions, wrong bank account, skipping verification, late filing, incorrect form, ignoring changes, wrong income declaration, and missed deadlines.

Ankur Mishra Jul 31, 2024, 12:37 PM IST,

1/10

Submitting Without Review:

Always review your return for errors or omissions before final submission.

2/10

Skipping Previous Years Losses:

Remember to carry forward and set off losses from the previous financial year.

3/10

Not Verifying Tax Return:

E-verify your return or send the signed ITR-V form to the CPC within the stipulated time.

4/10

Overlooking Form 26AS:

Reconcile your TDS details with Form 26AS to avoid discrepancies.

5/10

Missing Bank Account Details:

Ensure all your bank account details are correctly filled in for refunds.

6/10

Incorrect Tax Calculation:

Use the correct tax slabs and rates for precise tax computation.

7/10

Ignoring Interest Income:

Include interest earned from savings accounts, fixed deposits, etc., to avoid penalties.

8/10

Mismatch in Income Details:

Double-check your Form 16 and other income statements for accurate income reporting.

9/10

Forgetting Deductions:

Don't forget to claim all eligible deductions under sections like 80C, 80D, etc.

10/10

Incorrect Personal Information:

Ensure your name, PAN number, and address are accurately filled in. (Image Credit: Freepik)