Athira Sethu
Kochi, 27 June 2026
As we enter the period of filling Income Tax Return (ITR) for Assessment Year 2026-27, a number of people will start filling their ITRs. However, while doing so, one tends to make mistakes, which may cause the rejection of your ITR. While some mistakes can be rectified later, there may be a lot of consequences for making other mistakes.
Everyone is aware of those common mistakes such as selection of the wrong ITR Form, omission of income from return, failure to report interest income, concealment of rental income, not reporting any bank account, delayed filing, or omission of verification of return. There are some mistakes that people tend to overlook but should be avoided as well.
1. Failure to report foreign assets
People often tend to overlook the foreign assets in Schedule FA of the ITR. It becomes crucial for someone who has investment abroad. For instance, an employee of a multinational company gets RSU (restricted stock unit) of the company. It is often held abroad, and people overlook it. Even when there has been no sale of such asset, it needs to be disclosed.
2. Blindly applying AI for filing
AI tools can be applied for tax returns in some cases, but this tool is not always accurate and cannot be applied to complicated cases. If one has different types of incomes, assets, or gains, he or she may face errors in calculations. It is preferable to apply the income tax portal where all data is already filled or seek for help from experts.
3. Refusing to seek expert advice
Taxpayers usually want to save money, so they prefer filing tax returns themselves. However, they may make mistakes in calculations when they do not know everything about taxes and regulations. It may result in additional fines or notifications in the future. Thus, it is advisable to consult experts if one has complicated incomes.
4. Lack of evidence of deductions
People usually claim different deductions such as HRA, insurance, or donations without any proofs. Previously, this fact was not always checked by the department, but now they control the process and verify the information. People who lack evidence may face fines or rejection of claims.
5. Not verifying AIS, Form 16, and Form 26AS
There are many cases wherein individuals submit returns without cross-checking their incomes against AIS, Form 16, and 26AS. Mismatch in these documents might bring trouble in future for you.
Proper filling of ITR is quite important. With a bit of care, proper verification, and accurate documentation, you will not face any problem in future.
