ITR Filing 2026: Is Your Income Tax Return Correct? 9 Checks Every Taxpayer Must Do For AY 26-27

The income tax filing season for AY 2026-27 is officially open, and the clock is ticking. Whether you are a salaried employee, a pensioner or a homemaker with a fixed deposit, filing your ITR correctly this year is more important than ever. One small mismatch, wrong information, or missed detail in filing ITR can land you in trouble. Here are the 9 checks you should keep in mind before filing an ITR.

Pick The Right ITR Form

This is the very first step and the most common mistake. Many salaried individuals mistakenly continue filing ITR-1 despite being ineligible, particularly due to stock market or mutual fund investments. Even small capital gains can make ITR -1 invalid. If you have invested in shares or mutual funds this year, you likely need ITR- 2.

Check Your AIS and Form 26AS

Before filing a single number, log in to the income tax portal and check your Annual Information Statement (AIS). It shows all income linked to your PAN; cross-check this carefully against your return before submitting. If your figures do not match what the department already has, expect a notice.

Know Your Deadline

This year, the deadline is not the same for everyone. July 31st 2026, is the due date for salaried individuals, pensioners and taxpayers with capital gains or multiple house properties using ITR-1 or ITR-2; missing this date means a penalty of up to Rs. 5,000, reduced to Rs. 1,000 if your income is below Rs. 5 lakh.

Choose Your Tax Regime, Old or New

The New Tax Regime is now the default. Taxpayers wishing to opt for the old tax regime must explicitly exercise that option in the ITR itself, before the due date of filing. If you have investments in PPPF, LIC or home loans interest the old regime may still save you more money.

Download the Correct, Updated ITR Utility

Make sure to download ITR utilities from the income tax portal after April 10th, 2026, to ensure you have the correct versions. Using the old version could lead to errors in your filing without you even realising it.

Report All Bank Accounts Accurately

A new rule this year requires full transparency. Taxpayers under presumptive taxation must now report the total closing balance of all active bank accounts as on March 31, 2026. Even a savings account with a small balance must be disclosed.

Claim Every Deduction You Deserve

Many taxpayers miss deductions simply because they forget to report their medical insurance premiums, senior citizen savings, home loan interest, and more. This is money you have legally earned back. Do not leave it on the table.

Verify Your Return Within 30 Days

Filing is only half the job. Every ITR must be verified within 30 days of online submission; failure to verify renders the return invalid, as if it was never filed at all. The fastest way is through Aadhaar OTP, it takes less than two minutes.

Use Tab 1 on the Portal Don't Get Confused

The income tax portal now shows two tabs, one for the Income Tax Act 1961 and one for the Income Tax Act 2025. For FY 2025-26 returns, always select Tab 1. Selecting the wrong tab can invalidate your filing.