Common ITR Mistakes Freelancers Make
Tax compliance for self-employed individuals requires care to prevent audits.
5 Common Errors: 1. **Selecting the Wrong ITR Form**: Filing Form ITR-1 instead of ITR-3 or ITR-4. 2. **Ignoring AIS Mismatches**: Failing to match reported receipts with Form 26AS. 3. **Not paying Advance Tax**: Forgetting to pay quarterly interest installments. 4. **Claiming unsupported deductions**: Claiming personal expenses as business costs.
Disclaimer
Tax rules, thresholds, and calculations are estimates subject to regulatory changes. Always verify information on the official Income Tax or GST portals, or consult a qualified Chartered Accountant before final filing or payment.