ITR Deadline Near: 5 Errors That Cost You ₹5,000+

Over 4 crore Indians have already filed their ITR this season. If you haven't yet, watch out — common mistakes like wrong bank details or missed deductions can trigger penalties, refund delays, or even a tax notice.

Here's what happened: More than 4 crore Income Tax Returns were filed by late July, per Income Tax Department data — the deadline is July 31.. Late filing after July 31 attracts a penalty of up to ₹5,000 under Section 234F, rising if tax dues are also unpaid.. Common errors — mismatched PAN-Aadhaar, wrong bank IFSC, or skipped Form 26AS verification — are causing refund delays and scrutiny notices this year..

What you should do: Cross-check your Form 26AS and AIS on the income tax portal before submitting — any mismatch with your employer's TDS can trigger a defective return notice.. Verify your pre-filled ITR carefully: salary figures, interest income from FDs, and dividend credits are often auto-filled with errors that you must correct manually.. Link and validate your correct bank account (with active IFSC) on the portal so your refund — if any — reaches you without a 3–6 month delay..

Pro tip: If you missed claiming an 80C or 80D deduction while filing, you can file a revised return anytime before December 31, 2025 — no penalty applies.

For readers weighing their credit and loan options, our personal loan guide and CIBIL score resources put this update in context.