7 mistakes to avoid while filing your ITR, otherwise you may face penalty
Priya Vishwakarma
Jul 13,2024
Here are seven mistakes you should avoid while filing your ITR:
Choosing the Wrong Form
The Income Tax Department issues seven types of forms for different categories. Choosing the correct form is crucial for a successful filing.
Claiming Fake Deductions
Some create fake documents to claim various deductions. Such practices can lead to significant penalties and legal action.
Providing Incorrect Personal Details
Incorrect information can lead to issues with your return.
Not Pre-validating Your Bank Account
If your account is not validated, your refund might be delayed, and you could face additional complications.
Mismatch in TDS Figures
Ensure that the TDS figures in your Form 26AS match those in your ITR form.
Hiding Income
Hiding additional income can result in a notice from the Income Tax Department, legal action, and fines.
Forgetting E-Verification
Forgetting to e-verify your ITR can lead to a delay in receiving your refund.