Mistakes in ITR filing: Be alert, wrong deductions and exemptions in income tax returns can land taxpayers in trouble
Mistakes in ITR filing: Taxpayers must accurately report income and claim eligible deductions to avoid penalties and legal action. Wrongful claims can be considered tax evasion.
Mistakes in ITR filing: Income taxpayers should accurately report income and claim eligible deductions to avoid trouble with the tax department. When you file your tax return, you are expected to report your income accurately and claim deductions and exemptions that you are eligible for based on the applicable tax laws. Wrongfully claimed deductions can lead to penalties and criminal charges. Tax authorities can take legal action if discrepancies are found.