8 ITR Mistakes That Could Cost You ₹5,000+
Filing your ITR for AY 2026-27? The Income Tax Department now uses AI tools to catch errors. Avoid these 8 common mistakes to stay notice-free and get your refund faster.
One wrong entry in your ITR can cost more than 3 months of chai — easily ₹5,000 in penalties.
Any one of these ITR errors could trigger a notice on your return
Key Takeaways
Download your AIS (Annual Information Statement) from the income tax portal and match every entry with your own income records before filing.
Check Form 26AS for all TDS deductions — if any employer, bank, or client has deducted tax, it must appear in your ITR or expect a mismatch notice.
Declare ALL income sources — freelance payments, interest on savings accounts, FD interest, rental income, and even gifts above ₹50,000 — nothing is too small to skip.
Filing your ITR for AY 2026-27? The Income Tax Department now uses AI tools to catch errors. Avoid these 8 common mistakes to stay notice-free and get your refund faster.
Here's what happened: The Income Tax Department is using AI and data analytics to cross-check ITR data against Form 26AS, AIS, and TIS in real time.. AY 2026-27 ITR filing is now open, and mismatches between declared income and government records are triggering automated notices.. Common errors like missing freelance income, wrong bank details, or skipping exempt income disclosure are leading to defective return notices..
What you should do: Download your AIS (Annual Information Statement) from the income tax portal and match every entry with your own income records before filing.. Check Form 26AS for all TDS deductions — if any employer, bank, or client has deducted tax, it must appear in your ITR or expect a mismatch notice.. Declare ALL income sources — freelance payments, interest on savings accounts, FD interest, rental income, and even gifts above ₹50,000 — nothing is too small to skip..
Pre-filled ITR data can contain errors from your employer or bank. Never just click 'accept all' — manually verify every pre-filled figure before submitting, especially if you changed jobs mid-year.
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- [1]“ITR filing AY 2026-27: 8 costly mistakes taxpayers should avoid this tax return filing season” Wealth-Economic Times · 22 Jun 2026
This article is reported by GoCredit's Editorial Team based on the source above. GoCredit synthesises, contextualises, and adds India-borrower-relevant analysis. We are not the original publisher.