ITR 2023-2024: Afraid of making mistakes while filing income tax returns? Top tips for error-free filing

As many taxpayers prefer to file their ITR returns electronically, it is important to pay attention to every small detail while e-filing ITR. Owing to changes in taxation policy and schemes, the process can be complex for some taxpayers. It is pertinent to consider these key points for error-free e-filing of tax returns:

1. Selecting the right ITR form: There are different ITR forms for varied taxable persons like salaried, self-employed and so on. Therefore, it is very important to select the right ITR form while e-filing. Read more: Income tax returns: False HRA while filing ITR could cost you this much
2. Personal information: Make sure that personal details that you enter like PAN number, name and address are accurate as failing to do so can lead to rejection or delay in e-filing. It is important to fill in the details and double-check for any errors in the entries. 
3. Bank account details: Always re-check all the bank details that you enter in order to be eligible for any refunds that may be directed to your bank account.
4. Income reporting: Make sure that you declare your income across various sources including capital gains, rent and even gifts. Read more: ITR filing 2024: Form 16 and Form 26AS not matching can lead to tax notice
5. Exemptions and deductions: Be aware of all the deductions and keep all supporting documents handy while filing ITR.
6. Verifying ITR: After filing ITR, verify it through electronic verification (EVC) or send a signed physical copy of your return to the CPC.

Here are some quick tips for easy ITR e-filing:

Read more: Income Tax Return (ITR) 2023-24: 6 Essential points and 6 tips for error-free filing

1. In order to avoid late fees and penalties, file the return before the deadline.
2. Ensure that your digital signature is valid and correctly applied.
3. Ensure reconciliation of income and tax with Form 16, Form 16A and Form 26AS.
4. Check for any updates and changes in the tax laws or return filing procedure.