Filing income tax returns may seem straightforward, but small mistakes can lead to notices, penalties, or delays in refunds. One of the most common errors is choosing the wrong ITR form, which can result in defective return notices from the Income Tax Department.
Another frequent mistake is incorrect reporting of income. Many taxpayers forget to include interest income, capital gains, or freelance earnings, leading to mismatches with AIS and Form 26AS. Errors in deductions under sections like 80C, 80D, or HRA can also attract scrutiny if proper documentation is not maintained.
Late filing is another major issue. Filing after the due date can result in penalties, loss of certain deductions, and delayed refunds. Additionally, not verifying the return after filing makes it invalid, which many taxpayers overlook.
Professional guidance helps eliminate these errors. At Santosh Jagdish and Associates, we ensure accurate income reporting, correct deductions, and timely filing. Our goal is to help individuals and businesses file their income tax returns correctly while minimizing tax liability and avoiding unnecessary complications.