Income Tax Department has become more vigilant over the years and is strongly urging taxpayers to file their taxes. It is, therefore, necessary that you not only file your taxes on time but also make sure that you make no errors while doing so. There are a few points that you must keep in mind to file an error-free tax return.
Declared income and investment details should not mismatch
While filing your tax to the Income Tax Department, make sure you have submitted the correct details of your income and investments made. Not disclosing your income that is tax exempt is one of the most common mistakes that you may make.
Not filing tax returns
A lot of taxpayers are still ignorant when it comes to filing taxes. Many salaried individuals are under the impression that if TDS is deducted from their salary, there is no need for them to file their tax returns. This should, however, be avoided, and you should always file your taxes if your total income is above Rs. 2,50,000 per annum.
Mismatch in Form 26AS and Form 16
Most of the times it so happens that the TDS deducted from your salary is not deposited in the government account. This may happen because your employer failed to deposit the amount and you might be issued a notice for the same. Make sure you check your TDS mentioned in Form 16 matched with Form 26AS to avoid this.
Do not panic if you still receive notice from the IT Department as H&R Block will cooperate with the tax department to resolve all your tax issues. This is a service extended to clients who file their taxes with H&R Block.
Source : The Telegraph