The Income Tax Department encourages taxpayers to follow tax rules. If you do not follow these rules, you may receive a notice from income tax department. In this article, we will share 7 mistakes to avoid while ITR filing.
Mistakes in ITR Filing
Avoid making mistakes during ITR filing. Giving false information or not giving accurate information about your property and income can get you in trouble.
Avoid Wrong Claim
Claiming wrong tax exemption can also pose a risk of tax notice, So claim by giving correct information.
Provide Correct Income Information
It is mandatory to give correct information about your income (Income) in ITR. If a sudden fluctuation in your income appears, it can cause doubt.
Completion of Information in ITR Form
Completeness of all details including income, investment and assets is required in your ITR form. Notice may come when there are inconsistencies in ITR declaration and profile.
Vigilance at TDS Claim
When performing TDS Claim, keep in mind that it conforms to the information of Forms 26AS and 16 or 16A. A Income Tax Notice can came when disturbances occur.
Pre-Tax Evasion Case
If a case of tax evasion has been made before, the department can re-assess. There is a risk of notice even in this situation.
On Late Filing of Tax Return
Non-filing ITR on time can also pose a risk of notice. It is necessary to file a tax return within the stipulated time frame.
