Essential Insights on ITR Filing: Expert Guidance for Taxpayers

As the deadline for Income Tax Return (ITR) filing approaches, taxpayers are seeking clarity on the process. In an insightful discussion, Divya Baweja from Deloitte India shares critical advice on choosing between the old and new tax regimes, common pitfalls to avoid, and steps to take if errors are discovered post-filing. This article provides essential insights to help taxpayers navigate the complexities of ITR filing effectively.

By Narendra Chaudhary Jun 26, 2026, 16:16 IST

Key Considerations for ITR Filing

As the deadline for Income Tax Return (ITR) submissions approaches, many taxpayers are seeking clarity on the process. In a recent discussion, Divya Baweja, a Partner at Deloitte India, addressed several important questions regarding ITR filing.

Q. What should taxpayers consider when choosing between the old and new tax regimes?
A. The decision hinges on the taxpayer's financial situation. Those who can claim significant deductions and exemptions, such as House Rent Allowance (HRA), home loan interest, and investments under Section 80C, might find the old regime more advantageous. Conversely, if deductions are minimal and a simpler tax structure with lower rates is preferred, the new regime could be more suitable. It is wise to evaluate the tax liability under both options before finalizing a choice.

Q. What common mistakes should taxpayers avoid?
A. Taxpayers must ensure they report all income sources accurately, check the details in their Annual Information Statement (AIS) and Form 26AS, and only claim eligible deductions. Selecting the appropriate tax regime, confirming bank account information, and filing returns on time are also crucial. A thorough review prior to submission can prevent notices, processing delays, and refund issues.

Q. What steps should be taken if an error is found after filing?
A. The corrective action depends on the type of error. Most reporting errors can be rectified by submitting a revised return within the allowed timeframe. If the issue pertains to TDS, tax payments, or information from another source, those records may need to be amended first. Prompt action is essential to avoid notices, extra tax liabilities, and delays in refunds.