Since the deadline of 31st July 2019 for ITR filing is fast approaching, we should not commit the mistakes which we generally commit while filing the ITR form in hurry. Let us discuss the mistakes which people generally commit while filling up the ITR form.

Basic contact details

Since the income tax department nowadays sends all the communication to your email id and/or on your mobile number, it is very important for your to have these details updated in the income tax department website as well as while filling up the ITR form. This is specifically important in case you have changed your mobile number or emailed recently. You should never furnish the email id provided by your present employer in case you are salaried as the same may no longer remain relevant and accessible in as and when you change your present job.

Bank account details

Since the income tax refunds are generally directly credited to your bank account, please verify that the bank account details furnished in the ITR form is of the operational account. In case the details furnished by you in the ITR forms are incorrect, the refund bounces back and then request for reissue of the refund has to be made online after correcting the details of your bank accounts. You have to be really very careful while you keying in the details of your bank account for getting the refund credited. In case you are planning to close any of the existing bank account like the salary account of an earlier employer, please do not give the details of that account.

Details of TAN of the tax deducutor and taxes paid

Nowadays you are not allowed to attach/upload any document with your ITR including the TDS certificates for claiming the TDS credit. You are given credit for TDS on the basis of TAN of the deductors as per the details reflecting in your form no. 26AS. Though the details of TDS are prefilled in some of the ITR forms, you have to be careful while submitting the details of the deductors in case the details have to be submitted manually.  So in case you commit any mistake in mentioning the TAN number of the deductor in your ITR, you will not get the credit for such TDS at the time or processing of your ITR and thus unnecessarily having to make request for rectification of mistake.

Likewise in case of advance tax and self assessment tax paid, you have to furnish the details of such payments like challan number and BSR code for such payment. So in case there is any mistake in furnishing these details, you may not get the credit for these payments at the time of processing your ITR. This which may result into reduced refund or a notice of demand for payment.

Details of capital gains

The schedule of capital gains for ITR forms  is little difficult due to many column to be filled in. In respect of any capital gains transaction you are required to pay the advance tax for capital gains on such transactions on the date of advance tax falling due after such transaction. So in the ITR form you have to give break up of capital gains on the basis of due dates of  advance tax. So you have to be very careful while filling up the break up of the capital gains in the schedule, else you may have to pay higher interest than what is due. Likewise you have to provide break up of the short term capital gains and long term capital gains on the basis of rate of tax applicable,  you need to be extra cautious while filling up these details in the relevant schedule of the ITR form. Any mistake will result in wrong tax liability.

Details of foreign bank accounts

Nowadays many young people go abroad either for the purpose of  education or on deputation or for onsite job. While being in foreign country you may have to open a bank account there. It may so have happened  that you forgot to close the bank account while coming back even though not leaving substantial balance in the account. As per the present tax laws all the persons who are resident for tax purpose have to furnish details of all foreign bank accounts even if  in cases of zero balance in the account. In case you are resident of India and otherwise eligible to use ITR 1, you should not use ITR 1 in case you have any bank account abroad even if it has no balance.

The author is tax and investment exepert and can be reached at and @jainbalwant on twitter.

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  1. Narayan says:

    I am Sr.Citizen age 69 yrs.Having income frm pansion Rs. 37000/-p.m. and interest received from banks on my fixed deposits about Rs. 250000/-.I have to file ITR for A.Y.2019-20.I have kept Rs. 150000/- as fixed deposit u/s.80ccc. What are the deductions I can claim? Pl. guide.

  2. venkat says:

    “So in case you commit any mistake in mentioning the TAN number of the deductor in your ITR, you will not get the credit for such TDS at the time or processing of your ITR and thus unnecessarily having to make request for rectification of mistake.” .\
    The IT authorities must be verifying the TDS details submitted by taxpayer from the 26AS. If there is some minor error like in TAN of deductor and if other details are ok why not IT authorities themselves correct them.

  3. D.K.Jadhav says:

    I am working in MTNL, Mumbai and staying in company quarters. I am not getting HRA and I pay maintenance charges of Rs. 580 per month. Quarters is not provided as rent-free or concessional rent accommodation
    Company is treating t as Perquisite and Perquisite tax applied. But IT Act 17(2) says If it is rent-free or concessional rent accommodation than it should consider for tax. What is right. Please explain

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October 2020