Filing ITR 2025 without help? 5 common mistakes people make without a CA
Each ITR form is designed for specific categories of taxpayers. For instance, ITR-1 (Sahaj) is for salaried individuals with income up to 50 lakh, while ITR-2 suits those with capital gains.
ITR Filings
As online tax filing becomes easier, many individuals are choosing to file their Income Tax Returns (ITRs) without professional help. However, errors during the process can lead to delays, rejections or notices from the Income Tax Department. Here are five frequent mistakes taxpayers should steer clear of:
1. Using the Wrong ITR Form
Each ITR form is designed for specific categories of taxpayers. For instance, ITR-1 (Sahaj) is for salaried individuals with income up to 50 lakh, while ITR-2 suits those with capital gains. Business owners and freelancers may need ITR-3 or ITR-4. Selecting the incorrect form can lead to the return being invalidated or rejected.
2. Confusing Assessment Year with Financial Year
Many taxpayers wrongly interchange the financial year and assessment year. For example, income earned in the financial year 2024–25 must be filed under assessment year 2025–26. Choosing the wrong assessment year makes the return invalid and may require re-filing.
3. Missing Out Interest Income and TDS
While reporting salary, some taxpayers forget to include interest from fixed deposits or savings accounts. This income is already reflected in the Annual Information Statement (AIS) and Form 26AS. Failing to declare it could trigger a discrepancy and possibly a notice from the tax department.
4. Incorrect Deduction Claims
Claiming deductions under sections like 80C or 80D without proper documentation can cause issues. It is also important to remember that most deductions do not apply under the new tax regime. Taxpayers must opt for the old regime if they wish to claim exemptions.
5. Skipping E-Verification
Submitting the ITR is only part of the process. Taxpayers must also e-verify their return within 30 days, failing which the return is considered invalid. E-verification can be done through Aadhaar OTP, net banking, or an electronic verification code (EVC).
What’s New This Year?
The AIS and Form 26AS have been expanded with more detailed reporting. A dedicated AIS mobile app has also been launched. Moreover, the new tax regime is now the default, so taxpayers need to actively choose the old regime if it benefits them. Cross-verifying Form 16 with AIS and 26AS is advisable to avoid mismatches. Filing taxes independently is now more accessible, but accuracy remains essential. Avoiding these common errors can ensure timely processing and a hassle-free experience.
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