As many taxpayers prefer to file their ITR returns electronically, it is important to pay attention to every small detail while filing ITR electronically. Due to changes in tax policies and schemes, the process may be complex for some taxpayers. It is pertinent to consider these key points for error-free electronic filing of tax returns:
- Select the correct ITR form: There are different ITR forms for various taxpayers, such as employees, self-employed, etc. Therefore, it is very important to select the correct ITR form while e-filing. Read more: Income Tax Returns: Fake HRA while filing ITR could cost you this much
- Personal information: Please ensure that the personal details you enter such as PAN number, name and address are accurate as failure to do so may result in rejection or delay in e-filing. It is important to fill in the details and check the entries for errors.
- Bank Account Details: Always double-check all bank details you enter to be eligible for any refunds that may be directed to your bank account.
- Report Income: Be sure to report your income from various sources, including capital gains, rent, and even gifts. Read more: ITR 2024 Filing: Mismatched Form 16 and Form 26AS May Lead to Tax Notice
- Exemptions and Deductions: Keep all deductions in mind and keep all supporting documents handy while filing ITR.
- ITR Verification: After filing the ITR, verify it through electronic verification (EVC) or send a signed physical copy of your return to the CPC.
Here are some quick tips to make ITR e-filing easier:
- To avoid late fees and penalties, file your return before the due date.
- Make sure your digital signature is valid and correctly applied.
- Ensure reconciliation of income and taxes with Form 16, Form 16A and Form 26AS.
- Check for updates and changes in tax laws or return filing procedure.
Get latest updates on petrol price along with gold rate, current weather and budget 2024 at Hindustan Times.
