With the July 31 deadline for filing Income Tax Returns (ITRs) for Assessment Year (AY) 2026-27 fast approaching, many taxpayers are rushing to complete
the process before time runs out. While the availability of pre-filled return forms has made filing easier than in previous years, submitting a return without carefully reviewing the details can prove expensive. A hurried filing may lead to processing delays, tax demands, reduced refunds, or even notices from the Income Tax Department. To help taxpayers avoid such issues, the department has consistently advised filers to reconcile the information available in Form 26AS, the Annual Information Statement (AIS), and the Taxpayer Information Summary (TIS) before submitting their returns. Common Errors Taxpayers Should Avoid One of the biggest mistakes made by salaried individuals is relying exclusively on Form 16. Although this document captures salary details provided by an employer, it does not include every source of taxable income. Interest earned from savings accounts or fixed deposits, rental receipts, dividend income, freelance earnings, and capital gains from investments in shares or mutual funds must also be reported wherever applicable. Failing to disclose these incomes can result in discrepancies when the Income Tax Department compares your return with its records. Another common oversight is ignoring the information reflected in AIS, TIS, and Form 26AS. These documents contain financial data reported by employers, banks, stockbrokers, mutual funds, and other institutions. Any mismatch between these records and the income declared in your ITR could trigger additional tax demands or scrutiny during processing. Selecting the wrong ITR form is another error that taxpayers frequently make. Every ITR form is designed for a specific category of taxpayers and income sources. For example, individuals with capital gains, foreign assets, or income from multiple house properties may not qualify to file ITR-1. Choosing an incorrect form can make the return defective and delay its processing. Verify Deductions Before Claiming Them Incorrect deduction claims are another reason returns come under scrutiny. Taxpayers should ensure they satisfy the eligibility requirements before claiming benefits under Sections 80C, 80D, or any other applicable provision. Similarly, taxable capital gains arising from the sale of shares, mutual funds, or property should be accurately reported. Omitting these transactions or claiming deductions without proper eligibility may lead to tax demands at a later stage. Reviewing every deduction and income entry before submission can help reduce the likelihood of future disputes with the tax authorities. Filing Isn't Complete Until You E-Verify Many taxpayers mistakenly believe the process ends after clicking the submit button. In reality, filing an ITR is completed only after it has been e-verified within the prescribed timeline. An unverified return is treated as invalid, meaning it is considered as though it was never filed. If taxpayers discover an error before completing e-verification, they have the option to discard the unverified return and file a fresh one, provided they remain within the applicable deadlines.
