Common Mistakes while Filing ITR

 Hello Friends,

My this blog is related to tell you about What are the common mistakes we make before filling ITR (Income Tax Return)?

I will show you in just 5 steps how to avoid the common mistakes that people usually make before filing the income tax return. This will make it easier for you to file a return and there will be no chance of making a mistake.  So, be sure to take out these below steps before filing ITR:

Selection of correct ITR form:

First of all you need to select which Income Tax Form (ITR) need to fill. If you have selected in the wrong ITR Form, it will be rejected then you have to submit Revised Return.Selection of ITR form will depend on the source of your Income.

Income from Saving Bank Interest:

Most of the Taxpayers think that there will be no need to show Savings Bank Interest earned in the ITR. Taxpayers will also have to provide information about their interest income from savings account, fixed deposit or other source of interest. Under section 80 TTA, discount can be availed on interest income up to Rs. 10 K. 

Fill your personal Information correctly:

The other mistake a taxpayer has made that he/she will not provide personal information correctly. If you do not provide the  correct information it will create a big problem for you. Your address, mobile number, email address must be correctly entered on the income tax portal which will help you to future communication to you by the Income Tax Department.

Be aware if you have changed your job

If you have changed your job during the financial year then it is better to collect form-16 from both the companies which will help you to file your ITR easily.

E-Verification is must

It is the common mistake a taxpayer has made. Taxpayer file the ITR timely but forget to E-Verify the ITR which results a delay in processing of the return and refund disbursement by the Income Tax Department if any. If E-Verify is not possible then it is better to sign the ITR and send it to the Income Tax Department ,Bangalore within 120 days of filling your ITR by speed post.

I hope it will be helpful to you.

Thanks and Regards

Kulvinder Kaur

B.Com(H), MBA(Finance)

9871580806,8826566751

rightsteptoinvest@gmail.com