ITR Filling – The last date for filing ITR for most people is 31 July 2025. If you miss this date, you may have to pay a fine of up to Rs 5,000. Delay may also eliminate the option to carry forward some tax benefits and losses. File your returns on time so that there is no problem.
Choosing the wrong ITR form can result in your return getting cancelled or processing getting delayed. For example, if you are a salaried class person and earn less than Rs 50 lakhs, and you do not have any share sales or foreign income, you should choose the ITR-1 form. Let us tell you that this time, people who earn money from the stock market along with their jobs will also have to fill the ITR-1 form.
Disclose all income
At the same time, many taxpayers forget to give information about their small income in ITR, due to which you may have to face problems. In such a situation, it is very important to disclose all your income while filing ITR. If you do not disclose any income while filing the return, then you may have to face notice and penalty from the Income Tax Department.
It is important to check Form 26AS and AIS
Apart from this, before filing the return, definitely check Form 26AS and Annual Information Statement (AIS). These documents contain complete details of the tax deducted by the employer and the bank. It is worth noting that if the information given in these documents does not match the information filed in the ITR, then correct it immediately.
ITR Verification
Apart from this, the most important thing is that it is very important to verify the ITR. If your ITR is not verified, then your return will be considered incorrect. You can get it verified online through OTP based or net banking.