Daijiworld Media Network – New Delhi

New Delhi, Aug 3: The government has extended the deadline for filing Income Tax Returns (ITR) for the assessment year 2025–26 to September 15, offering taxpayers relief beyond the usual July 31 cutoff. However, officials warn that filing early remains wise to avoid last-minute errors and ensure smooth processing.

As per the rules, ITR filing is compulsory if your total income exceeds Rs 2.5 lac under the old tax regime or Rs 3 lac under the new one, even if no tax is due. Late or incorrect filing may result in penalties and unnecessary complications.

To help taxpayers avoid common pitfalls, experts have flagged 10 frequent ITR mistakes to watch out for in 2025:

1. Using the wrong ITR form – Choosing an incorrect form can lead to notices or return rejections. For example, use ITR-1 only if your salary is below Rs 50 lac and you have no capital gains.
2. Not verifying the ITR – Filing is incomplete without e-verification. Returns not verified are treated as unfiled.
3. Wrong assessment year – For income earned in FY 2024–25, select AY 2025–26. An incorrect year can attract penalties.
4. Incorrect personal details – Errors in name, PAN, date of birth, bank account, or contact info can delay refunds and cause rejection.
5. Missing other income – Don’t forget to include interest income, rental income, or capital gains, even if tax has already been deducted.
6. Wrong data format – Enter values as prescribed. Inconsistencies or incorrect formats can trigger system errors.
7. Wrong tax regime – Choose wisely between the old and new tax regimes. A wrong choice may cost you valuable deductions or exemptions.
8. Skipping exemption claims – If you reinvest capital gains, remember to claim under Sections 54, 54EC, or 54F where applicable.
9. Ignoring tax notices – Always respond promptly to notices from the department. Non-compliance can lead to penalties or prosecution.
10. Not paying advance tax – If applicable, pay advance tax on time to avoid 1% monthly interest on shortfall.

Tax experts stress that early filing allows more time to correct errors, claim all benefits, and ensure that refunds—if any—are credited swiftly.