Archive · 2 Jul 2025
Taxpayers Advised to File Carefully to Avoid Penalties
When filing your taxes, it's important to be accurate.
Use the right form for your income type, and double-check your information with the government's records.
Make sure to verify your return, or it won't be accepted.
Filing late, or giving wrong information, can lead to penalties.
Avoiding these mistakes can help avoid financial issues.
Incorrect ITR form selection can lead to 'Defective Return' status.
Failure to verify Form 26AS and AIS may cause refund delays.
Unverified returns within 30 days (or via ITR-V) are incomplete.
Late filing of ITRs can result in penalties of up to ₹5,000.
Inaccurate information may result in a 50% or 200% penalty.
- Who
- Taxpayers filing income tax returns.
- What
- Potential penalties and issues related to Income Tax Return (ITR) filing.
- When
- As income tax filing season approaches.
- Where
- N/A
- Why
- To help taxpayers avoid penalties and financial trouble during ITR filing.
- Incorrect ITR Form
- May be treated as 'Defective Return'
- Verification Deadline
- 30 days (via Aadhaar OTP, etc.)
- Late Filing Penalty
- ₹5,000 (for incomes above ₹5 lakh), ₹1,000 (below)
- Penalty for Inaccurate Information
- 50% of tax dues, up to 200% for wilful misreporting
- Failure to maintain books/submit audit reports (businesses)
- Fines up to ₹1.5 lakh
Sources
Are You Filing ITR On Your Own In 2025? Here Are The 5 Common Mistakes You Should Keep In Mind
Want to Avoid Income Tax Penalty?, Follow These 5 Important Tips While Filing ITR
ITR Filing For Freelancers & Gig Workers: Which Form To Use, What To Claim, And Docs To Keep
No refund on ITR AY 2025-26 until Income Tax Department completes investigation on your…
ITR filing: How to switch between old and new income tax regimes
ITR filing mistakes can attract penalties of up to 200%: Here's how to avoid them
