ITR Filing: 5 mistakes that you should avoid while filing income tax returns
While filing income tax on your own should be encouraged, taxpayers mustn’t make a few mistakes to avoid any troubles.
New Delhi: With the increase in the financial knowledge of taxpayers, many now file their income tax returns on their own. However, this often leads to complications in the income tax filing, and could lead to a loss.
So, while filing income tax on your own should be encouraged, one mustn’t make a few mistakes to avoid any troubles. Here are five common mistakes that one needs to avoid while filing income tax:
ITR Filing: Mistakes while sharing tax deduction details
ITR Filing: Mistakes while sharing bank account details
Filing of capital gains
While filing ITR, sharing the details of capital gains is one of the most troublesome chores. Taxpayers need to share details of the various holding periods of their investments in various investment instruments. Different tax rates for various long and short term capital gains also make the process cumbersome. Therefore, you need to furnish the right details while filing returns.