ITR filing deadline ends today: Make these essential checks before you file
If you have not filed your Income Tax Return (ITR) yet, today is your last chance. Before you hit submit, make a few essential checks to avoid mistakes, delays and possible penalties.
If you have still not filed your Income Tax Return (ITR) for the financial year 2025-26, today is your last chance. Missing the deadline could mean paying a late filing fee, interest on any pending tax, and dealing with unnecessary hassles later.
Many taxpayers tend to wait until the final day to file their returns. However, experts say rushing at the last minute often leads to avoidable mistakes that can delay refunds or even result in notices from the Income Tax Department.
DON'T RUSH, AVOID THESE COMMON MISTAKES
According to CA Deepak Ukidave, Adjunct Faculty at K J Somaiya Institute of Management, taxpayers should focus on accuracy rather than simply completing the filing process before the clock runs out.
"As the 31st July ITR filing deadline approaches, everyone has the tendency to file their ITR at the last moment, just before the due date for salaried employees. First, pick the correct ITR form as per your type of income. Select the correct assessment year and avoid minor typographical errors in details such as your PAN number, Aadhaar number, bank account number and IFSC code to make the return valid," he said.
Choosing the wrong ITR form or entering incorrect personal details can make the return invalid or delay its processing. Even small typing mistakes can create problems later.
MATCH YOUR INCOME DETAILS CAREFULLY
Before submitting your return, make sure the income details reported on your return match the information available with the Income Tax Department.
Ukidave advises taxpayers to compare their Tax Information Statement (TIS), Annual Information Statement (AIS) and Form 26AS with their bank statements and other financial records.
"Match the transactions in AIS, TIS and Form 26AS with your official bank statements and other details, so that there is no item of income that is omitted from being reported in the return," he said.
This simple step can help avoid mismatches that may trigger a tax notice at a later stage.
REPORT EVERY SOURCE OF INCOME
Many taxpayers mistakenly report only their salary while forgetting other sources of income such as savings account interest, fixed deposit interest, rental income, capital gains or freelance earnings.
Ukidave cautions against leaving out any income while filing the return.
"Consider all items of income earned during the year. Concealment of income will attract an income tax notice and penalties," he said.
Reporting all sources of income correctly can save taxpayers from future disputes with the tax department.
MISSING TODAY'S DEADLINE CAN COST YOU
If you fail to file your return today, you may have to file a belated return, which could mean paying a late filing fee and interest on any unpaid tax.
"Don't miss the ITR filing deadline. Otherwise, it will attract a late fee and interest charges under Section 234F of the Income Tax Act," Ukidave said.
With only a few hours left before the deadline, taxpayers who have not yet filed their returns should complete the process without further delay. Taking a little extra time to check the details before submitting the return can help avoid costly mistakes and ensure a smoother filing experience.
If you have still not filed your Income Tax Return (ITR) for the financial year 2025-26, today is your last chance. Missing the deadline could mean paying a late filing fee, interest on any pending tax, and dealing with unnecessary hassles later.
Many taxpayers tend to wait until the final day to file their returns. However, experts say rushing at the last minute often leads to avoidable mistakes that can delay refunds or even result in notices from the Income Tax Department.
DON'T RUSH, AVOID THESE COMMON MISTAKES
According to CA Deepak Ukidave, Adjunct Faculty at K J Somaiya Institute of Management, taxpayers should focus on accuracy rather than simply completing the filing process before the clock runs out.
"As the 31st July ITR filing deadline approaches, everyone has the tendency to file their ITR at the last moment, just before the due date for salaried employees. First, pick the correct ITR form as per your type of income. Select the correct assessment year and avoid minor typographical errors in details such as your PAN number, Aadhaar number, bank account number and IFSC code to make the return valid," he said.
Choosing the wrong ITR form or entering incorrect personal details can make the return invalid or delay its processing. Even small typing mistakes can create problems later.
MATCH YOUR INCOME DETAILS CAREFULLY
Before submitting your return, make sure the income details reported on your return match the information available with the Income Tax Department.
Ukidave advises taxpayers to compare their Tax Information Statement (TIS), Annual Information Statement (AIS) and Form 26AS with their bank statements and other financial records.
"Match the transactions in AIS, TIS and Form 26AS with your official bank statements and other details, so that there is no item of income that is omitted from being reported in the return," he said.
This simple step can help avoid mismatches that may trigger a tax notice at a later stage.
REPORT EVERY SOURCE OF INCOME
Many taxpayers mistakenly report only their salary while forgetting other sources of income such as savings account interest, fixed deposit interest, rental income, capital gains or freelance earnings.
Ukidave cautions against leaving out any income while filing the return.
"Consider all items of income earned during the year. Concealment of income will attract an income tax notice and penalties," he said.
Reporting all sources of income correctly can save taxpayers from future disputes with the tax department.
MISSING TODAY'S DEADLINE CAN COST YOU
If you fail to file your return today, you may have to file a belated return, which could mean paying a late filing fee and interest on any unpaid tax.
"Don't miss the ITR filing deadline. Otherwise, it will attract a late fee and interest charges under Section 234F of the Income Tax Act," Ukidave said.
With only a few hours left before the deadline, taxpayers who have not yet filed their returns should complete the process without further delay. Taking a little extra time to check the details before submitting the return can help avoid costly mistakes and ensure a smoother filing experience.
If you have still not filed your Income Tax Return (ITR) for the financial year 2025-26, today is your last chance. Missing the deadline could mean paying a late filing fee, interest on any pending tax, and dealing with unnecessary hassles later.
Many taxpayers tend to wait until the final day to file their returns. However, experts say rushing at the last minute often leads to avoidable mistakes that can delay refunds or even result in notices from the Income Tax Department.
DON'T RUSH, AVOID THESE COMMON MISTAKES
According to CA Deepak Ukidave, Adjunct Faculty at K J Somaiya Institute of Management, taxpayers should focus on accuracy rather than simply completing the filing process before the clock runs out.
"As the 31st July ITR filing deadline approaches, everyone has the tendency to file their ITR at the last moment, just before the due date for salaried employees. First, pick the correct ITR form as per your type of income. Select the correct assessment year and avoid minor typographical errors in details such as your PAN number, Aadhaar number, bank account number and IFSC code to make the return valid," he said.
Choosing the wrong ITR form or entering incorrect personal details can make the return invalid or delay its processing. Even small typing mistakes can create problems later.
MATCH YOUR INCOME DETAILS CAREFULLY
Before submitting your return, make sure the income details reported on your return match the information available with the Income Tax Department.
Ukidave advises taxpayers to compare their Tax Information Statement (TIS), Annual Information Statement (AIS) and Form 26AS with their bank statements and other financial records.
"Match the transactions in AIS, TIS and Form 26AS with your official bank statements and other details, so that there is no item of income that is omitted from being reported in the return," he said.
This simple step can help avoid mismatches that may trigger a tax notice at a later stage.
REPORT EVERY SOURCE OF INCOME
Many taxpayers mistakenly report only their salary while forgetting other sources of income such as savings account interest, fixed deposit interest, rental income, capital gains or freelance earnings.
Ukidave cautions against leaving out any income while filing the return.
"Consider all items of income earned during the year. Concealment of income will attract an income tax notice and penalties," he said.
Reporting all sources of income correctly can save taxpayers from future disputes with the tax department.
MISSING TODAY'S DEADLINE CAN COST YOU
If you fail to file your return today, you may have to file a belated return, which could mean paying a late filing fee and interest on any unpaid tax.
"Don't miss the ITR filing deadline. Otherwise, it will attract a late fee and interest charges under Section 234F of the Income Tax Act," Ukidave said.
With only a few hours left before the deadline, taxpayers who have not yet filed their returns should complete the process without further delay. Taking a little extra time to check the details before submitting the return can help avoid costly mistakes and ensure a smoother filing experience.
