Income-tax returns: Filing your returns is now more accessible through either the offline or online process, but taxpayers may still make some mistakes with their ITR. Thus, we take a look at the top 10 common errors — from using inappropriate forms, to non-disclosure of full income, and filling incorrect details — that you should check for before submitting your papers.
For FY26 (AY27), the deadline for individual taxpayers filing ITR is 31 July 2026; while for those using ITR forms 3 and 4, is 31 August 2026.
- For salaried taxpayers who have two or more employers during a financial year, it is important to have Form 16 from both / all the concerned parties when filing your returns. Failure to do so may result in misreported income which can trigger action from the ITD.
- Pay advance tax within the due dates to avoid penalties. This is to be done in four installments — 15 June, 15 September, 15 December and 15 March. The penalty for missing a deadline is 1% of the unpaid amount.
- Taxpayers earn capital gains and reinvest some of the gains but forget to claim the exemption under relevant sections such as 54, 54EC, or 54F. Make sure you do not miss out on tax benefits because of hurry or oversight.
- Ensure that you track and respond promptly to any notice that the Income Tax Department might send you. Ignoring such notices can lead to legal action and penalties.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
