ITR 2023-2024: Afraid of making mistakes while filing income tax returns? Top tips for error-free filing

ITR filing: Make sure that personal details that you enter like PAN number, name and address are accurate as failing to do so can lead to rejection.

Published on: Jun 24, 2024, 09:10:05 IST

By HT News Desk

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As many taxpayers prefer to file their ITR returns electronically, it is important to pay attention to every small detail while e-filing ITR. Owing to changes in taxation policy and schemes, the process can be complex for some taxpayers. It is pertinent to consider these key points for error-free e-filing of tax returns:

ITR filing: Always re-check all the bank details that you enter in order to be eligible for any refunds that may be directed to your bank account.

Selecting the right ITR form: There are different ITR forms for varied taxable persons like salaried, self-employed and so on. Therefore, it is very important to select the right ITR form while e-filing. Read more: Income tax returns: False HRA while filing ITR could cost you this much
Personal information: Make sure that personal details that you enter like PAN number, name and address are accurate as failing to do so can lead to rejection or delay in e-filing. It is important to fill in the details and double-check for any errors in the entries.
Bank account details: Always re-check all the bank details that you enter in order to be eligible for any refunds that may be directed to your bank account.
Income reporting: Make sure that you declare your income across various sources including capital gains, rent and even gifts. Read more: ITR filing 2024: Form 16 and Form 26AS not matching can lead to tax notice
Exemptions and deductions: Be aware of all the deductions and keep all supporting documents handy while filing ITR.
Verifying ITR: After filing ITR, verify it through electronic verification (EVC) or send a signed physical copy of your return to the CPC.

Here are some quick tips for easy ITR e-filing:

Read more: Income Tax Return (ITR) 2023-24: 6 Essential points and 6 tips for error-free filing

In order to avoid late fees and penalties, file the return before the deadline.
Ensure that your digital signature is valid and correctly applied.
Ensure reconciliation of income and tax with Form 16, Form 16A and Form 26AS.
Check for any updates and changes in the tax laws or return filing procedure.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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