The due date for Income Tax Return (ITR) filing for FY 2024–25 (AY 2025–26) is July 31, 2025 for individuals not liable for audit. As this deadline approaches, it’s crucial to file your return accurately to avoid penalties, scrutiny, and refund delays.
In this guide, Tax Logic India highlights the most common mistakes taxpayers make while filing their returns and how you can avoid them.
📌 1. Choosing the Wrong Tax Regime
The new tax regime is now the default regime as per Budget 2024, but you can still opt for the old regime if it suits your income and deduction profile.
✅ Tip: Use online tax calculators or consult a tax expert to compare both regimes before filing.
📌 2. Misreporting or Omitting Income
Many individuals forget to declare:
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Interest income from savings accounts or FDs
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Rental income from property
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Freelance or side income
Omission can lead to notices under Section 139(9) or 143(1).
✅ Tip: Cross-verify income with Form 26AS, AIS, and TIS before submission.
📌 3. Incorrect Claim of Deductions
Claiming ineligible deductions (e.g., under Section 80C, 80D, etc.) or missing valid ones can result in excess tax paid or mismatch notices.
✅ Tip: Ensure supporting documents are available and valid as per Income Tax rules.
📌 4. Ignoring Form 26AS, AIS & TIS
Your Form 26AS, Annual Information Statement (AIS), and Taxpayer Information Summary (TIS) reflect your reported income and TDS. Mismatch between your ITR and these forms can trigger red flags.
✅ Tip: Always reconcile these reports with your own income records.
📌 5. Errors in Personal Information
Even minor mistakes in:
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PAN number
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Bank account details
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Name mismatch with Aadhaar
…can cause issues in ITR validation and refund processing.
✅ Tip: Double-check all personal details and link PAN-Aadhaar to avoid rejection.
📌 6. Failing to Verify ITR
Filing your return is not complete until you verify it via:
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Aadhaar OTP
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Net banking
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Demat account
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Sending signed ITR-V to CPC
✅ Tip: Verify within 30 days of filing to avoid invalidation of your return.
✅ Final Thoughts
ITR filing is not just about meeting the deadline—it’s about accurate disclosure, proper documentation, and informed decisions. By avoiding these common mistakes, you reduce your risk of penalties and ensure smoother processing of refunds.
Need professional help? Tax Logic India offers expert support for ITR filing, TDS, GST, and more across India.
📞 Contact us today to file your ITR correctly and on time.
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❓ Frequently Asked Questions (FAQs)
1. What is the last date for ITR filing for FY 2024–25?
July 31, 2025 is the deadline for individuals not requiring audit.
2. Can I switch between old and new tax regimes every year?
Yes, salaried individuals can switch annually, but business owners can switch only once in a lifetime unless they stop business income.
3. What happens if I miss the ITR deadline?
You may have to pay a late fee of ₹1,000–₹5,000, and you lose the ability to carry forward certain losses.
4. Is it mandatory to report small savings interest?
Yes, all income—including small interest—is taxable and should be reported.
5. What is Form 26AS?
It’s a tax credit statement showing TDS, advance tax, and refunds. It helps verify the tax paid on your behalf.