Lifestyle

ITR Filing Tips: 7 reasons why your ITR form gets rejected

Here are seven common reasons why your ITR form might get rejected.

Image credits: our own

Incorrect Personal Information

Name, PAN, address, email, and phone number errors might result in rejection. Enter all information correctly according official records.

Image credits: stockphoto

Mismatch in Income Details

Income discrepancies between your ITR and your employer's or other sources might lead to rejection. Double-check all income sources against Form 16 or other papers.

Image credits: stockphoto

Incomplete Income Disclosure

Rejection may result from not disclosing all income sources, such as savings acc, FD, rental, and investment income. Form sections for taxable income should contain all income.

Image credits: stockphoto

Incorrect Tax Calculation

Rejection might occur from inaccurate tax liability calculations, deductions, exemptions, or tax rates. Tax rules and standards need the precise tax calculating approach.

Image credits: stockphoto

Non-filing of Mandatory Schedules

You must complete Schedule DI for investment data and Schedule IT for adv tax and self-assessment tax payments based on your income and deductions.

Image credits: freepik

Failure to Verify the Return

Not checking your ITR after submitting it might result in rejection. After e-filing, CPC can verify the ITR-V form with Aadhaar OTP, net banking, or a signed form within 120 days.

Image credits: freepik

Late Filing or Incorrect Form

Filing your ITR late or using the wrong income source form might also lead to rejection. Use the right form for your income and file by the Income Tax Department's deadline.

Image credits: freepik

Kolkata GOLD rate today, July 17: Price of 10 gm witness HIGH increase

Nagaland state lottery July 17, 2024: Check today's winning number

Chennai Gold Rate July 17, 2024: Know 18K, 22K, 24K prices

World Emoji Day 2024: Significance, history, how to celebrate