Filing income tax returns (ITR) is a crucial responsibility for individuals and businesses in Bhiwadi. However, errors in tax filing can lead to penalties, delays, or even legal issues. Understanding how to avoid common mistakes in income tax filing in Bhiwadi ensures a smooth and hassle-free process.
At GTS Consultant, we provide expert tax filing services to help individuals and businesses stay compliant and maximize their tax benefits.
Common Mistakes to Avoid in Income Tax Filing
1. Incorrect Personal & Financial Details
Providing wrong PAN, Aadhaar, bank account, or income details can result in ITR rejection or delayed refunds. Always double-check the information before submission.
2. Ignoring TDS and Advance Tax Payments
If TDS (Tax Deducted at Source) is deducted from your salary or income, ensure it matches the Form 26AS. Also, if your tax liability exceeds ₹10,000, failing to pay advance tax can attract penalties.
3. Choosing the Wrong ITR Form
Different income sources require specific ITR forms. Using an incorrect form can lead to rejection. GTS Consultant helps you choose the right form based on your income.
4. Not Declaring All Sources of Income
Many individuals forget to report income from freelancing, investments, rental properties, or interest earned. The Income Tax Department tracks all earnings, so report everything to avoid scrutiny.
5. Missing the Tax Filing Deadline
Filing taxes late results in penalties and loss of carry-forward benefits for losses. The due date is usually July 31st for individuals and October 31st for businesses.
How GTS Consultant Can Help You
- Accurate ITR Filing – Ensuring error-free returns
- Tax Planning & Optimization – Maximizing deductions & benefits
- TDS & GST Compliance – Avoiding legal issues
- Handling Tax Notices – Professional support for any queries
Conclusion
Avoiding mistakes in income tax filing in Bhiwadi saves time, money, and stress. GTS Consultant provides expert tax filing services to ensure smooth compliance.
