The deadline for filing income tax returns, September 15, is slowly approaching. Many people are busy filling out the online form by themselves by picking up documents like Form-16 and 26AS. At the same time, some people are adopting the approach of “take all the papers” by calling the chartered accountant.

If your income comes from a single source and there are no complex deductions, then you can fill out the ITR yourself. But if there are more income sources or there is confusion about choosing the tax form, then taking the help of a CA can be a profitable deal.

What all needs to be done to file it yourself?

If you want to file ITR in a DIY (Do It Yourself) way, then these steps are necessary:

Checking Form-16, 26AS and AIS
Choosing the right ITR form
Selecting the tax regime (old or new)
Calculating the deduction correctly
Calculating the total tax liability
Result of mistakes - Notice and penalty
If you file ITR yourself and there is any mistake in it, then there is a risk of a fine and notice. Filing ITR is not just filling out the form. It is to understand the law and give the right information so that there is no legal problem in the future. A small negligence today can become a big problem tomorrow.

Common mistakes that people make while filing on their own-

Choosing the wrong ITR form
Wrongly entering the income or deduction
Mismatching AIS and 26AS
Forgetting to claim a tax credit

CA also helps you in tax-saving planning.
CA does not just do the work of getting the tax filed. They also help you with future tax planning. Which deduction to take when, which investment will be right - only a professional can give all this advice. Online tools provide a general guide, but only a human can do personalized planning.

Conclusion: Be smart in terms of tax
If your income is just salary and there is not much confusion, then online filing is also fine. But if there are more details, then it is better to consult an expert. It is wise not to have to pay a fine of ₹50,000 in the attempt to save ₹5000.

Frequently Asked Questions (FAQs)

1. Is it right to file ITR yourself?

If the income is simple, then yes, but if there is any complexity, then it is better to take the help of a CA.

2. How much does a CA charge?

From ₹2500 to ₹8000, depending on the complexity of the case.

3. What is the most common mistake?

Filling the wrong ITR form or a mismatch between AIS and 26AS.

4. Can tax be saved using online tools?

It is possible, but personal guidance is not available.

5. What is the benefit of consulting a CA?

Mistakes are avoided, tax planning is possible, and the risk of notice is reduced.

Disclaimer: This content has been sourced and edited from Zee Business. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.