Top 7 Common Mistakes to Avoid While Filing ITR for AY 2025-26

Taxpayers are anxiously awaiting filing their ITR for the assessment year 2025-26 (income earned in the financial year 2024-25). It is essential for individuals to understand the mistakes to avoid while filing ITR:

1. Thinking Deeply While Choosing a Tax Regime

Since the financial year 2023-24, the new tax regime has been made the default regime under 115BAC. Therefore, if the taxpayer has not voluntarily chosen the new tax regime, your employer will still deduct TDS from your salary under the new tax regime.

While filing ITR, taxpayers’ forms are automatically defaulted to the new tax regime; they are required to click the “Yes” button to shift to the old tax regime. They have the option to choose between the old and new tax regimes for the assessment year 2024-25.

2. AIS and Form 26AS

Go to the Income Tax website and download your AIS (Annual Information Statement) and Form 26AS.

These documents show the total amount of tax that has been deducted from your income (sources such as salary, interest, etc.) and paid to the government on your behalf.

If you see any difference or mismatch, you should reconcile it with your employer/tax deductor/bank. Ask them to correct the mistake so that your tax records are accurate.

3. ITR Documents

Collect and go through all the important documents you’ll need to file your Income Tax Return (ITR).

Collect and gather all essential documents (income, tax, and savings-related documents) required for filing ITR and review them carefully before filing the return. The following documents are required for filing ITR:

• Bank statements or passbooks: In order to check income, interest, or big transactions.
• Interest certificates from banks or post offices for things like savings or fixed deposits.
• Receipts for claiming deductions, such as rent receipts, insurance premiums, medical bills, or donations.
• Form 16: Given by your employer, it shows your salary and tax deducted.
• Form 26AS and AIS: Shows all the tax paid or deducted on your behalf.
• Investment proofs such as ELSS, PPF, LIC, etc., to claim deductions under sections like 80C.

4. PAN and Bank Details

Always make sure your personal information, such as PAN number, home address, phone number, bank account details, etc., is already filled in correctly and up to date.

5. Correct ITR Forms

Look for the correct ITR form as per your income (such as ITR-1 and ITR-7). Mention all the details in the ITR form while filing, such as:

• Your aggregate income
• Any tax deductions you are claiming (such as under Section 80C)
• Any interest income you earned
• Taxes you have already paid or that were collected from you (such as TDS)

Individuals are not required to attach any documents with the ITR-1 form.

6. E-filing of Returns

E-filing of returns refers to the process of filing tax returns online via electronic means, using online software approved by the relevant tax authority of the respective country.

Always try submitting your tax return before the set deadline. If a return is filed after the due date, taxpayers can suffer the following consequences:

• You will need to pay a late filing fee.
• You will not be able to carry forward any losses to the next year.
• You may lose some tax deductions and exemptions.

7. E-verification of Returns

E-verification of returns is a financial process in which, once an individual finishes filing ITR, he/she is required to confirm that it is he/she only who has filed the return.

This step can easily be performed online using Aadhaar OTP, net banking, or other options. However, if you don’t want to e-verify yourself, then you can simply print the ITR-V Acknowledgement form, sign it, and send it directly by speed post to the following address within the specified time limit:

Centralized Processing Center, Income Tax Department, Bengaluru 560500 (Karnataka)