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NATIONAL TAXPAYERS WELFARE FOUNDATION

 

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Filing Your ITR This Year? Here Are Key Precautions You Shouldn’t Miss!

 

Hello! If you’re an individual preparing to file your Income Tax Return (ITR), here’s what the Income Tax Department recommends you double-check before you click “submit.”

Following these simple precautions can help you avoid processing delays, unwanted notices, or even tax demands. Let's walk you through them:

 

 

Choose the Right Tax Regime

  • Decide whether you want to file under the Old Regime (with deductions and exemptions) or the New Regime (with lower tax rates but fewer deductions).
  • Once you choose, your return calculations will differ—so select wisely based on your income and deductions.

 

Download and Check AIS & Form 26AS

  • Your Annual Information Statement (AIS) and Form 26AS will show the TDS, TCS, and other tax details reported against your PAN.
  • If there’s any mismatch in these forms, reconcile it with your employer, bank, or deductor before filing.

 

Keep All Relevant Documents Ready

Before filing, gather and review:

  1. Bank statements / passbooks
  2. Interest certificates from banks or post office
  3. Receipts for exemptions or deductions (like LIC, tuition fees, donations, etc.)
  4. Form 16 from your employer
  5. Investment proofs for tax-saving instruments

A little preparation can save a lot of trouble later.

 

Verify Pre-Filled Details Carefully

  • Check that your PAN, address, contact info, and bank account details are correctly auto-filled.
  • Mistakes here can delay your refunds or cause failed verifications.

 

Select the Correct ITR Form

  • There are different ITR forms for different types of taxpayers (ITR-1 to ITR-7).
  • Using the wrong form can lead to rejection or legal complications. If unsure, consult a professional.

 

Report All Required Details

Your ITR must include:

  1. Total income
  2. Deductions claimed (if any)
  3. Interest income
  4. Tax paid / collected (TDS/TCS/advance tax, etc.)

Note: Do not attach any documents with your ITR when filing online (including ITR-1).

 

File on Time – Avoid Penalties

  1. Submit your ITR before the due date.
  2. Late filing can lead to:
  • Late filing fees
  • Losses not being carried forward
  • Deductions and exemptions not being allowed

 

Don’t Forget to e-Verify

Your return isn’t complete unless it is verified.

  1. Use online methods to e-verify instantly, or
  2. If verifying manually, send the signed physical copy of ITR-V by speed post to:

Centralized Processing Centre,

Income Tax Department,

Bengaluru – 560500, Karnataka.

 

Make sure it reaches within the prescribed timeline.

 

Stay Compliant, Stay Peaceful

At NTWF, we believe informed taxpayers are empowered taxpayers. Filing your return responsibly ensures smooth processing, timely refunds, and peace of mind.

Have questions or facing difficulties? Our Foundation is here to help you understand your rights and responsibilities better.