How to Filing Income Tax Returns? Avoid These Five Common Mistakes

1. Don't pick wrong income tax return forms:

According to GST Consultant in Gurgaon Income tax forms are getting complicated and detailed every year and income tax department also change the forms every year. Sometimes it is difficult to choose right form for filing income tax return. Be remember that wrong form may make your Income tax return defective.

2. Not reporting all income sources:

Make sure that all income are reported in income tax return. Few income which we might forget to consider in income tax return are Interest on Saving bank account, Interest on Fixed deposits and other incomes which are not in regular nature.

3. Not providing correct personal details

Give your correct personal and current details like mobile number, personal email id at income tax portal. it becomes important because income tax department sends you regular messages and emails for reminder of due date and other return related stuffs.

4. Mistakes in claiming deductions

Make sure the all the deductions are claimed correctly while filing income tax return. There many section under which you can claim deduction from your income which are Section 80C, 80CCC, 80D, 80DD, 80GG, etc.

Wrong claiming of deduction can be rejected by income tax department which may results in raising of income tax demand.

5. Discrepancy in TDS details

Many of us file our income tax return without verifying the details of tax deduction at source (TDS) deducted by employers and companies at Form-26AS available at income tax portal.so take a Suggestion by Our CA in Gurgaon Form 26AS contains details of TDS deducted. If TDS deduction details are not matched with Form-26AS then take timely action to rectify the same.

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