Tax season is here…

✅ Mistakes You Should Avoid While Filing Your ITR

1. Not Reporting All Your Income

Many people think it’s enough to report only their salary…

2. Choosing the Wrong ITR Form

Each ITR form is made for a specific type of taxpayer…

3. Not Matching With Form 26AS & AIS

Before filing, always check your Form 26AS and AIS…

4. Forgetting to Verify Your Return

Just uploading your return isn’t enough…

5. Using Guesswork Instead of Actual Numbers

Don’t guess your income, deductions, or interest amounts…

💸 Hidden Deductions and Exemptions Most People Forget to Claim

1. Standard Deduction – ₹50,000

If you’re salaried or a pensioner, this is auto-allowed…

2. Section 80C – Up to ₹1.5 Lakh

You may already be using this partially through EPF or LIC…

3. Section 80D – Medical Insurance

₹25,000 deduction for your policy…

4. Section 80TTA / 80TTB – Interest on Savings/FDs

₹10,000 deduction for savings account interest…

5. Rent Paid Without HRA – Section 80GG

Even if your salary doesn’t include HRA…

6. Home Loan Interest – Section 24(b)

You can claim up to ₹2 lakh on your home loan interest…

7. Education Loan – Section 80E

If you’re paying interest on a loan taken for higher education…

8. Donations – Section 80G

Many forget this! Donations to registered charities…

9. Deduction for Disabled Dependents – Section 80DD / 80DDB

If you’re supporting a disabled family member…

🔍 Quick Tips to Remember

• File before the deadline to avoid late fees (up to ₹5,000)
• Keep proof of deductions for at least 6 years
• Compare between old regime and new regime if you’re unsure
• Use online tools or a CA for complex returns

❓ FAQs – Your Common Questions Answered

1. Can I revise my return after filing it?

Yes! You can revise your ITR before 31st December…

2. I forgot a deduction. Can I still claim it?

Yes. Just file a revised return and include the missed deduction.

3. My income is below ₹2.5 lakh. Should I still file ITR?

Not mandatory, but highly recommended…

4. Are dividends I received taxable?

Yes. Dividends are now fully taxable…

5. Can I claim both HRA and home loan benefits?

Yes, if you are living in a different city due to work…

Filing your ITR is not just about avoiding penalties – it’s your chance to take control of your finances and pay only what you owe. Don’t let a lack of awareness cost you money.