ITR filing deadline 2025 looming, millions of taxpayers are working to complete their income tax return filing. As the closing days approach, tax authorities and specialists are advising income tax filers to assess and estimate their submissions carefully in order to avoid common mistakes that can lead to financial consequences, notices, and delay in refunds.
ITR filing deadline 2025: Common Pitfalls and How to Avoid Them
One of the most regular errors taxpayers make is choosing the wrong ITR form. Each form uses to file the return, such as ITR-1, ITR-2, and others, is specific to a particular set of income source and taxpayer groups.
By using an incorrect ITR form can lead to a return being measured defective, demanding a resubmission.
Additionally, most significant mistake is failing to relate all sources of income. For individuals who have worked for quite a few employers in a single financial year, it is important to integrate and report income from all Form 16s.
Similarly, hidden foreign assets or exempted income, such as gratuities or leave encashment, can also become the cause of scrutiny from the department of Income tax. However, income which is exempted is not taxable, it must still be testified to avoid a discrepancy notice.
The Importance of Verification and Timely Action in ITR filing 2025
Several financial experts highlighted that taxpayers need to check and verify data before submitting it to the authority for filing. Data from sources like the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS) should be validated and double-checked with their own personal records to safeguard accuracy. A small error in these particulars can lead to difficulties.
Also, in order to avoid the issues happening at last-minute, taxpayers are suggested to submit all essential financial documents and data to their tax advisor well in advance before the deadline of September 15, 2025 approaches.
However, there is a late fee, delayed refund along with the scrutiny, if in case you will miss to file your Income Tax Return (ITR) on or before due date.
Ankur Mishra is a journalist who covers an extensive range of news, from business, stock markets, IPOs to geopolitics, world affairs, international crises, and general news. With over a decade of experience in the business domain, Ankur has been associated with some of the reputed media brands. Through a sharp eye on global marketplaces along with deep insights and analysis of business strategies, Ankur brings simplicity to the complex economic matrix to decode market trends and empower people.
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