ITR Due Today: Pick the Wrong Reason & Risk Notice?
The ITR filing deadline is here and over 5 crore returns are already in. But many taxpayers are confused about one dropdown field — 'reason for filing ITR'. Picking the wrong option could cause mismatches or trigger a tax notice. Here's how to get it right.
More Indians filed ITR this year than the population of New Zealand — yet one tiny dropdown still trips people up.
Missing today's ITR deadline could cost you this fine
Key Takeaways
Check your total gross income first: if it exceeds ₹2.5 lakh (or ₹3 lakh for seniors), select 'Taxable income exceeds basic exemption limit' as your reason.
If your income is below the exemption limit but you had TDS deducted or want to claim a refund, select 'To claim refund' as your filing reason.
File before midnight today to avoid the ₹5,000 late fee under Section 234F — even a belated return is better than not filing at all.
The ITR filing deadline is here and over 5 crore returns are already in. But many taxpayers are confused about one dropdown field — 'reason for filing ITR'. Picking the wrong option could cause mismatches or trigger a tax notice. Here's how to get it right.
Here's what happened: Over 5 crore income tax returns have been filed this season, with today being the last day to file without a late fee.. A commonly misunderstood field in the ITR form asks taxpayers to select their 'reason for filing' — options differ based on income and tax liability.. Selecting the wrong reason — such as 'taxable income exceeds basic exemption' when it doesn't — can cause processing mismatches or scrutiny notices..
What you should do: Check your total gross income first: if it exceeds ₹2.5 lakh (or ₹3 lakh for seniors), select 'Taxable income exceeds basic exemption limit' as your reason.. If your income is below the exemption limit but you had TDS deducted or want to claim a refund, select 'To claim refund' as your filing reason.. File before midnight today to avoid the ₹5,000 late fee under Section 234F — even a belated return is better than not filing at all..
If you hold foreign assets, have signing authority in a foreign account, or deposited over ₹1 crore in a current account, filing is mandatory regardless of income — select 'Mandatory as per 7th proviso to Section 139(1)'.
For readers weighing their credit and loan options, our personal loan guide and CIBIL score resources put this update in context.
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- [1]“ITR deadline tomorrow: What to select in the ‘reason for filing ITR’ field in your tax return form — Check here” mint - money · 30 Jul 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.