ITR Filing: 4 Common Mistakes Senior Citizens Must Avoid

The income tax return filing season started the previous financial year. The deadline is July 31, 2025. Senior citizens, along with all the other taxpayers, should focus on filing their taxes before the deadline to avoid any added penalties. Senior citizens should trade lightly and must claim exemptions wherever applicable according to their investments and plans. Experts advise seniors to be more careful as the penalties and delayed refunds or even scrutiny by the Income Tax Department may cause them many inconveniences but most of all shortage of money.

With ITR forms for FY 2024-25 already available, seniors must prepare in advance and start gathering their papers now to avoid any last-minute mistakes.

Here are some common mistakes made by the taxpayers while filing ITR:

Choosing The Right Form

Most people make the common error of selecting the wrong ITR form to begin with which leads to inconsistencies and errors. Seven different forms are made for different income types and taxpayer categories, it is important to choose the right one. Choosing the incorrect form can show invalid return and force you to file a revised version.

Timing is Everything

It is important to file your taxes on time. While the deadline is July 31, 2025, missing it can attract penalties of up to Rs 10,000 and may restrict your ability to carry forward losses or claim certain deductions. Adhering to the deadline is essential, which most people don’t, thus resulting in the announcements of exceeded deadlines that are subjected to penalties.

Incomplete Information

Taxpayers usually forget to add all sources of income while filing taxes. Taxpayers are advised to report all sources of income. For seniors, it is especially important to keep a record of their income sources, such as interest claimed from fixed deposits or rental incomes, as well as any capital gains from mutual funds. Keeping a proper record will be extremely helpful. Failing to include any income source or deliberately leaving it out of the tax filing can raise red flags with the department.

Returns Verification

Many taxpayers do not or forget to verify their tax return after filing. Unverified returns are treated as invalid returns. This option is completed through an online Adhaar OTP or net banking which is a mandatory step.

Review of Form 26AS

Many taxpayers also skip reviewing Form 26AS and the Annual Information Statement (AIS), which results in mismatched records with the tax department’s data. These forms show a summary of taxes paid and financial transactions and must be cross-checked before submission.