Top 5 mistakes to avoid while filing your income tax return in 2025-26 | Mint

The preparations for the filing of Income Tax Returns (ITR) for Assessment year 2025-26 are under way now. To manage the same efficiently, individual taxpayers are collecting the relevant documents such as interest certificates, dividend statements, salary slips, business income documents etc., of the recently concluded financial year.

Hence, in such a situation if one has to ensure timely and accurate filing of income tax returns, then several crucial points must be kept in mind. Firstly, it is important to avoid common mistakes and errors with your income tax filing documents, this is significant to prevent economic penalties, unwanted notices and delays along with unnecessary scrutiny for the tax computation department.

Below are five common mistakes taxpayers often make while moving ahead with the filing of their income tax returns — understanding these can greatly improve the accuracy and ease of your tax filing process.

1. Missing the filing deadline

The due date for the submission of ITR for most individual taxpayers is July 31, 2025. If you fail in meeting this deadline, then such a mistake can result in penalties from ₹1,000 to ₹10,000 primarily depending on the duration of delay.

Later income tax submission can also result in the taxpayer missing out on certain deductions and carry-forward benefits. That is why this particular date must be kept in mind while going about with the filing of income tax.

2. Selecting the incorrect ITR form

Selecting the accurate ITR form as per your individual case is extremely important. For example, salaried individuals with income up to ₹50 lakhs should select ITR-1. Whereas, individuals who have capital gains or multiple properties should opt for ITR-2.

Do note, using the incorrect form can result in processing delays or even rejection of the return. Such a development can introduce unwanted complications and legal ramifications if it is not dealt with in a proper way.

3. Not reporting all income sources

Focus on writing down all your income sources. All income sources including interest from savings accounts, past dormant accounts (if operational), fixed deposits, rental income and capital gains from equities or mutual funds must be clearly reported in your tax returns. Missing out or omitting any income can attract serious penalties and scrutiny from income tax authorities. Therefore, do ensure comprehensive reporting to maintain transparency.

4. Ignoring form 26AS and AIS

The Annual Information Statement (AIS) and Form 26AS are very important documents that provide detailed information of the taxes deducted through the financial year and associated financial transactions. Cross checking these with your records helps in ensuring clarity and accuracy in tax filing. It also helps in preventing delays in the processing of the tax returns if the information is accurately checked, filled and submitted.

5. Failing to verify the ITR

Once you are done with the filing of your ITR, verifying the same is mandatory. All unverified returns are considered invalid. Now, verification of returns can be done electronically through Aadhaar OTP, net banking. If in doubt, always discuss your problems with an income tax officer or a certified tax filing consultant.

Conclusion

Hence, meticulous attention to detail, checking of forms, related documents, bank statements, dividend statements etc., during the ITR filing process can save you from future hassles and problems. Therefore, by avoiding these common mistakes, individual taxpayers can ensure a smooth and efficient tax filing experience.

Disclaimer: This article is for informational purposes only and does not constitute legal or financial advice. Readers are advised to consult a qualified tax professional for personalised guidance.