Filing ITR for FY2024- 25? Avoid These Mistakes While Filing ITR

Filing ITR for FY2024- 25? Avoid These Mistakes While Filing ITR

As the tax filing season begins, taxpayers have been given a 45-day extra window to file their returns. The deadline has been extended from 31 July to 15 September because Budget 2024 introduced major changes to ITR forms. While this extension is helpful, these changes might still lead to mistakes when filing your return.

Not following the new rules isn’t the only risk. Even with improved online filing, like pre-filled forms and automatic checks, people still make errors. An expert says, “The pre-filled data from Form 16, 26AS, AIS/TIS, real-time validation and auto-calculations have reduced the chances of errors, but if the data you provide and confirm is not correct, it may lead to mistakes in the return.”

Some common mistakes include choosing the wrong ITR form, not reporting all sources of income, not matching your income with tax details, and errors in HRA claims or while switching jobs. These issues can cause wrong tax amounts, penalties, notices from the tax department, the need to refile, and delayed refunds.

Below are mentioned few mistakes that should be avoided while filing ITR (Income Tax Return).