ITR Filing 2026: 10 Mistakes That Could Cost You More Tax

As the Income Tax Return (ITR) filing season begins, taxpayers are advised to be extra careful while submitting their returns. Even small mistakes can lead to delayed refunds, extra tax payments, notices from the Income Tax Department, or penalties. Tax experts recommend checking all details carefully before filing your return.

1. Choosing the Wrong ITR Form

Selecting the wrong ITR form is one of the most common mistakes. Filing under an incorrect form can make your return defective and delay processing.

2. Not Reporting All Sources of Income

Many taxpayers forget to include income from bank interest, dividends, rent, freelancing, or other sources. This can lead to under-reporting of income and tax notices later.

3. Ignoring AIS and Form 26AS

Before filing, taxpayers should compare their income details with AIS (Annual Information Statement) and Form 26AS. Any mismatch may attract scrutiny from the tax department.

4. Claiming Wrong Deductions

Claiming deductions without proper eligibility or missing eligible deductions can affect your tax calculation and may trigger verification.

5. Incorrect Capital Gains Reporting

If you have sold shares, mutual funds, or property, capital gains must be reported correctly. Errors in reporting can result in tax demands and notices.

6. Not Disclosing Foreign Assets

Taxpayers with foreign bank accounts, overseas investments, or foreign income must disclose these details correctly. Failure to do so can lead to penalties.

7. Choosing the Wrong Tax Regime

Many taxpayers do not compare the old and new tax regimes before filing. Selecting the wrong option can increase the amount of tax payable.

8. Missing the Filing Deadline

Late filing can lead to penalties, interest charges, and loss of certain tax benefits. Filing on time helps avoid unnecessary complications.

9. Forgetting to E-Verify the Return

Simply filing the return is not enough. Taxpayers must complete e-verification within the prescribed period. Otherwise, the return may be treated as invalid.

10. Entering Incorrect Bank Details

Wrong bank account numbers or IFSC codes can delay tax refunds or cause refund failures. Always double-check bank details before submission.

Final Advice

Before filing your ITR, carefully review your income details, deductions, tax credits, AIS, Form 26AS, and bank information. If you discover any mistake after filing, you can file a revised return to correct the error. Taking a few extra minutes to verify details can help you avoid notices, penalties, and unnecessary tax payments.