Common ITR Filing Mistakes Every Taxpayer Should Avoid

Taxpayers must report all income sources including interest, rental, dividends, and capital gains as shown in bank statements and Form 16 to avoid defective returns.

Selecting the correct ITR form (e.g., ITR-1, ITR-2, ITR-3, ITR-4) based on income type and eligibility is crucial; wrong forms lead to defective returns requiring resubmission.

Filing after the due date results in late fees, interest on unpaid taxes, and loss of ability to carry forward certain losses.

Incorrect personal information such as PAN, name, date of birth, or bank account details can delay processing and refunds; details must match PAN and Aadhaar records.

The ITR must be verified within the prescribed period via Aadhaar OTP, net banking, pre-validated bank account, or Electronic Verification Code to complete the filing process.