ITR Filing: Want to avoid notices and penalties? So keep these things in mind while filling ITR

Income Tax Return (ITR) filing has started for the financial year 2026 (Assessment Year 2026-27). In such a situation, taxpayers need to be extra careful while filing returns. Even small mistakes can lead to tax notices, delays in refunds, higher tax liability and penalties. Tax experts say that before filing ITR, match Form 26AS, AIS and pre-filled data, so that any kind of mistake can be avoided.

Choosing the wrong ITR form

If the taxpayer does not choose the correct ITR form as per his income, the return may be considered defective. This may cause delay in processing and may also result in a notice from the tax department.

not reporting all income

Many people show only salary income and hide bank interest, dividend, rent, freelance or foreign income. Due to this, income appears less and problems may increase later.

Form 26AS and AIS not matching

If there is a difference between Form 16, AIS and 26AS, the tax department may consider it as wrong reporting. Therefore, it is important to match all the documents before filing the return.

Claiming Wrong Deduction

Some taxpayers claim deductions for which they are not eligible. Many people forget to take the correct deduction. In both cases, tax liability may be affected.

Giving wrong information about capital gain

The Income Tax Department can send a notice for giving wrong information about capital gain from selling shares, mutual funds or property. Therefore, fill all the details related to investment correctly.

Hiding Foreign Income and Assets

Hiding information about foreign bank accounts, property or foreign income can result in heavy penalties. It is necessary to disclose this under tax rules.

Choosing the wrong tax regime

Choosing an option without comparing the new and old tax regime may result in paying more tax. Experts advise to calculate both the regimes and take a decision.

Missing ITR Filing Deadline

Interest, late fees and penalty may be imposed on not filing ITR on time. Also, you will not get the benefit of carrying forward some losses.

Forgetting to do E-Verification

Merely filing ITR is not enough. If e-verification is not done within the stipulated time, the return will be considered invalid.

Incorrect filling of bank details

Tax refund may get stuck by filling wrong bank account number or IFSC code. Therefore, please validate the bank account beforehand.

Also read- Mukesh Ambani has 0 salary, did not take even 1 rupee salary even in the sixth year, then what is the source of earning?