ITR Filing AY 2025-26: People often make 5 common but important mistakes while filing ITR. Avoiding these and filing the correct return on time can save you from penalty and notice.
ITR Filing AY 2025-26: The process of filing Income Tax Return (ITR) for Assessment Year 2025-26 has started. Now most of the taxpayers are busy gathering investment documents, salary slips, interest certificates and other income sources for the financial year 2024-25. However, during this time some common but serious mistakes are made. If these are avoided, not only does tax filing become easier, but one can also get rid of penalty, notice and unnecessary delay.
Let us know about those 5 common mistakes, which are often made while filing income tax return. Also, we will also know how to avoid these mistakes.
1. Ignoring Form 26AS and AIS
Documents like Form 26AS and Annual Information Statement (AIS) give a detailed account of your financial activities and tax deductions. It is important to match them with your bank statements, dividend reports and other financial documents before filing ITR. This can avoid errors and inconsistencies and delay the return processing.
2. Failure to report all income sources
ITR includes not only salary but also interest from savings account, FD, rent, capital gains, dividends and income from old current accounts. Hiding or omitting any income by mistake can raise suspicion in the eyes of the Income Tax Department and can lead to heavy penalty.
3. Not verifying ITR on time
It is a mandatory process to verify the return after filing it. As per the rules of the Income Tax Department, unverified returns are considered invalid. Verification can be done through Aadhaar OTP, net banking or other electronic means. Delayed verification can also affect the refund process.
4. Choosing the wrong ITR form
Taxpayers should choose the right ITR form based on their income and financial activities. For example, ITR-1 is suitable for those with salary income up to ₹50 lakh, while taxpayers with capital gains of more than ₹1.25 lakh or more than one property should choose ITR-2. Wrong form may lead to rejection of return or increase the chances of scrutiny.
5. Missing the ITR filing deadline
The last date for filing ITR for general taxpayers is 31 July 2025. Filing after the deadline may attract a penalty of ₹1,000 to ₹10,000. Additionally, you may also miss out on many tax deductions and carry forward benefits.
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