List of Mistakes Done while Filling Income Tax Return, Revising the Late Filed Income Tax Return, Details of all bank accounts held in India at anytime during the previous year (except dormant account, Claiming Tax . To know more about Mistakes Done while Filing Income Tax Return, visit https://www.legalraasta.com/

1. YOUR ONLINE COMPANION FOR COMPANY, TAX AND LEGAL MATTERS.
WWW.LEGALRAASTA.COM
MISTAKES DONE WHILE FILING
INCOME TAX RETURN

2. LISTOFMISTAKESDONE
List of Mistakes Done
•Every Tax Payer is required to send a duly signed copy of ITR V form to Income
Tax department within 120 days of e filing an Income Tax Return at “Income Tax
Department – CPC, Post Bag No. 1, Electronic City Post Office, Bangalore –
560200, Karnataka” by regular Indian Post or Speed Post, only.
•Nearly 10% of Tax payers forget sending ITR V every year.
Forget Sending
ITR V to Income
Tax Department
•Bank Account Number entered in ITR shall not be less than 9 digits in any case
and an accurate IFSC code should be specified, otherwise it may delay your
Income Tax Refund.
Incorrect Bank
Account Number
and IFSC code
•Before filing of Income Tax Return, as assesses should understand that
which ITR form is applicable to the source(s) of Income earned by him during
the relevant assessment year.
Selecting
Incorrect ITR form

3. LISTOFMISTAKESDONE
Intimation and
Rectification
Upon successful filing of Income Tax Return ,
the same will processed by Income Tax
Department and an intimation u/s 143(1) is
generated which shows the comparison of
details of Income and Tax thereon filed by the
assesses in the return form and the details
processed by the department . If the details
mentioned in the intimation u/s 143(1)
confirms to the return filed then no further
action is required. However if there is any
deviation, then a rectification application u/s
154 can be filed by the assesses to rectify the
mistakes apparent from record within the
period of 4 years from the end of financial year
in which the order sought to be amended was
passed. Online rectification is also possible.
Revising the late filed
Income Tax Return
In accordance with the provision of Section
139(5) of Income Tax Act’1961, only the return
filed under section 139(1) i.e. ITR filed within
the prescribed date or the return filed in time
can only be revised. In accordance with the
provision of Section 139(5) of Income Tax
Act’1961, only the return filed under section
139(1) i.e. ITR filed within the prescribed date
or the return filed in time can only be revised.
This mistake is possible only if the Income
declared in Income Tax Return is less than
Rs.5,00,000 and return is filed manually

4. Foreign Assets, Bank
Account, Aadhar
Number and
Passport Number
Details of all bank
accounts held in
India at anytime
during the previous
year (except dormant
account)
• New Income Tax Return forms for
the Assessment Year 2015-2016
have been released by the Income
Tax Department on 22 June 2015
with some new requirements that
are mandatorily required to be filled
by an assessee (if applicable), some
of those are:
• Aadhar Number (if held)
• Passport Number (if held)
• Details of Foreign Assets and
Income from any source outside
India.
• Incorrect Information in Personal
Information Schedule.
ASSETS,AC.NO.,AADHARANDPASSPORTNO.

5. ANASSESSESSHOULDUNDERSTANDTHEFACTTHAT
An assesses should understand the fact that :
•Will not allow him to claim the Tax Deducted at source.
Incorrect TAN
•Will result in non receipt of all intimations from CPC and other communications.
Incorrect E-mail Address
•Will result in non receipt of SMS based Communication.
Incorrect Mobile No.
•Will result in Computation of higher taxes in case of senior citizens.
Incorrect Date of Birth
•Will result in Computation of higher taxes.
Incorrect Residential Status
•Will not enable Aadhar updation and EVC verification.
Incorrect Aadhar no.

6. CLAIMINGTAX
Claiming Tax without actual payment of Self Assessment Tax
Some assesses claim Income Tax paid
without the actual payment of
Income Tax , it may make an assesses
an ‘Assesses in Default’ which may
result in payment of interest @ 1%
per month or part of month under
section 220 & penalty under section
221 at an amount as determined by
Assessing Officer.
At the same time, the Intimation
received under section in respect of
that return will create the demand
for unpaid Income Tax along with
Interest under section 234B &
234C (if applicable).

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