This is the fastest way to confirm your tax money actually hit the government’s account. Don’t skip this.

1. Go to the Portal: Open the official Income Tax e-filing portal. That link is: https://www.incometax.gov.in/iec/foportal/

2. Log In: Use your PAN as the User ID, your password, and the CAPTCHA.

3. Find the Menu: Once logged in, go to the ‘e-File’ tab in the main menu.

4. Select the Form: From the dropdown menu, select ‘Income Tax Returns,’ and then click ‘View Form 26AS (Tax Credit).’

5. Redirect Confirm: You’ll see a disclaimer. Click ‘Confirm’. This will immediately redirect you to the government’s TRACES (TDS-CPC) website. Don’t panic; it’s the right place.

6. Agree & Proceed: On the TRACES site, check the box to agree to the usage policy and click ‘Proceed.’

7. Select View Link: Click the prominent link that says ‘View Tax Credit (Form 26AS)’.

8. Final Selection: Choose the Assessment Year (AY) you need, and then select the format.

   • For a quick look, use HTML.

   • To save or file, select HTML again, then click ‘View/Download,’ and finally ‘Export as PDF’. (The password for the PDF is your Date of Birth in the DDMMYYYY format.)

End. . .

Also read |Don’t Ignore These 3 Silent Heart Attack Warning Signs!

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If a taxpayer hides his actual income, then a penalty of 200% of the tax amount can be imposed for giving wrong information. Under Section 270A of the Tax Act, a penalty of 50% of the tax amount is imposed for underreporting income.

What is the most common mistake made while filing taxes?
Many taxpayers claim deductions under Section 80C of the Income Tax Act without proper documents. Apart from this, it is also common to claim the wrong house rent allowance (HRA) or show personal expenses as business expenses. Such mistakes, even if unintentional, can lead to heavy penalties. Disclosure of all income is mandatory It is mandatory to show income from freelancing, crypto trading or side jobs in ITR. If income is hidden, strict action can be taken by the tax authorities.

To avoid penalty, every deduction or exemption claim must be accompanied by the correct documents. Even if a Chartered Accountant (CA) or tax consultant makes a mistake, the responsibility will be of the taxpayer. According to the law, the taxpayer is held accountable, not the professionals who prepare the return. What should you do? Check your tax return thoroughly before submitting it. As the deadline is near, mistakes can be made in haste. Being careful can help avoid unnecessary scrutiny and heavy penalties. Keep all documents ready before filing taxes and file the return with correct information.

The post ITR Filing Guide: If you make this mistake while filing tax, you will have to pay 200% penalty, even CA or tax advisor will not be able to help! first appeared on Rightsofemployees.com.