Pittfalls to avoid

Top 10 tax mistakes normally made in the preparation of return of Income and tax planning.

Arithmetic mistakes on computation of income from various heads and total Income.

Non-collection of adequate and fullest information by the tax return preparer.

Non-submission of fullest particulars to the tax return preparer.

Mismatch of items listed in the tax computation and items enclosed in the return.

Use of inappropriate form for filing returns and wrong challans for payment of tax.

Computation of total income without taking into accounts all relevant provisions of Income Tax Act,Rules,Circulars     and Challans.

Non-Adherence of due date for filing of returns under various sections of Income Tax Act.

Non-Submission of statutory documents and certificates along with returns.

Incomplete or erroneous preparation of Return of Income.

Filing of return without signature and verification.