The ITR filing season started, and taxpayers were warned against rushing. Experts highlighted deadlines, common mistakes, and strict checks, emphasising accurate reporting to avoid penalties, notices, and refund delays.
Kashish Bhardwaj | Apr 29, 2026 |
ITR 2026 Filing Starts: What Taxpayers Need to Know Before Submitting Returns
ITR filing has started for the financial year 2025-26 (Assessment Year 2026-27). The government has released all ITR forms by the end of March. Now people are starting to file their income tax returns. But experts are clearly saying not to file ITR in haste. Even a small mistake can cause a delay in a penalty, tax notice, or refund.
| This year’s deadlines are as follows: | |
| July 31st 2026 | Salary and pension recipients |
| August 31st 2026 | Businessmen and professionals |
| October 31st 2026 | Accounts that are audited |
If you file after these dates, penalties may apply.
Why is it important to carefully file ITR Filing 2026?
It is not a tricky task to file an ITR. It is just that you need to be very careful while filling in every minor detail. In this, you have to show your entire income correctly and claim whatever deductions you can get. With this, you pay only as much tax as you should. Many people pay more tax or face penalties due to small mistakes. The penalty can be up to 200% of the tax amount in some cases, especially when income is misreported.
Common Mistakes Made While Filing ITR
The Income Tax Department has now tightened scrutiny on income tax returns; it now cross-checks your information with systems like Form 26AS and AIS. Therefore, even a small mistake can cause problems.
1. Choosing the wrong ITR Form
Every person has a different ITR form according to their income. Like ITR-1 is for salaried people and ITR-3 is for business people. Filling out the wrong form may result in return rejection.
2. Using the wrong assessment year
The correct AY for FY 2025-26 is 2026-27. Entering the wrong year may delay your refund.
3. not revealing full income
You have to declare all your types of income, like the following:
Tax-free income also has to be shown at the right place.
4. Mismatch in Form 26AS and TDS
Form 26AS contains information about TDS. This should match your Form 16. If there is a mismatch, the refund may not be received.
5. Incorrect personal or bank details
If the PAN or bank account details are incorrect, the refund may be delayed. So fill in the details carefully.
6. Ignoring AIS and TIS
AIS and TIS contain complete information about your financial transactions. Failure to check these may result in a notice.
7. Not reporting foreign assets or high income
If your income is more than Rs 50 lakh, then it is necessary to fill Schedule AL. Apart from this, foreign assets also have to be declared.
8. Not claiming deductions
Many people forget to take these deductions:
Due to this, their tax becomes higher.
9. Not verifying ITR
After filing the return, it is necessary to verify it within 30 days. Verification can be done through Aadhaar, net banking, or EVC. ITR is not valid without verification.
10. Ignoring the tax notice
If a notice comes from the Income Tax Department, do not ignore it. It is important to respond on time; otherwise, a penalty may be levied.
11. Claiming HRA wrongly
To claim HRA, it is necessary to provide the rent receipt and the PAN of the landlord. If this is not done, the claim may be rejected.
12. Not paying advance tax on time
Advance tax has to be paid four times a year. If payment is not made on time, interest may have to be paid.
13. Not disclosing high-value assets
If the income is more than Rs 50 lakh, then it is necessary to give information about property, jewellery, and investments.
14. Not disclosing foreign income
It is necessary to give information about foreign income and foreign bank accounts, whether it is taxed externally or not.
15. Repeatedly making mistakes or intentionally giving wrong information
If someone makes repeated mistakes or hides income, they may have to face penalties, interest, or litigation.
The Income Tax Department has now increased its inspection of financial transactions with the help of advanced systems. Consequently, it has become more important than ever to fill in the ITR correctly. If you file ITR carefully and with correct information, you can avoid any trouble and get your refund on time. Always check your complete information once before submitting.
| Income Tax Return Filing 2026: Frequently Encountered Tax Penalties | ||
Situation | What it means | Penalty |
| Tax was not paid properly | You did not pay the full tax on time | You may have to pay the tax again with extra interest |
| Under-reporting income | You showed less income than you actually earned | 50% penalty on the unpaid tax |
| Hiding or misreporting income | You hid income or showed the wrong details | Penalty can go up to 200% of the tax |
| Late ITR filing | You filed your tax return after the due date | Penalty up to Rs 5,000 (Rs 1,000 if income is below Rs 5 lakh) |
| Delay in TDS/TCS filing | TDS or TCS return not filed on time | Rs 200 per day penalty until you file (with limits) |
| Wrong or fake entries | You added false or wrong details to reduce tax | 100% penalty on the wrong amount |
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