Use of the incorrect form will result in your return being treated as defective, points out Suresh Surana, founder, RSM India.
Prasanna D Zore/Rediff.com reports on the chaos facing taxpayers with the income tax department making changes to ITR 2 and 3 forms just before tax-filing deadline.
With the online tax filing and automation of the tax process the number of mistakes made by taxpayers during filing of taxes have been reduced, but considering the importance of the information, a mistake or an error will be an invitation to trouble.
Archit Gupta -- founder and CEO, ClearTax.com -- lists common mistakes and how to avoid them for filing a hassle-free income tax return.
There has been criticism of the new tax forms with experts and consultants saying government was seeking too much data. They felt that the addition of new information would make the process of filing returns difficult.
How the Aadhar card would be linked to income tax return is yet not clear
New ITR form may be simpler, but some changes could stump you.
With digital technology, the I-T department's ability to catch tax evaders has increased many times.
Penalty can be levied at 100-300 per cent of the tax evaded, while tax is imposed at the highest rate of 30 per cent.
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