BANGALORE: As always tax season is quickly approaching and the filing deadline will be here before you know it. So have you filed your tax return? If not yet, then it's time for action. You should get started by getting your tax return together, organizing all of your information and double checking your returns to make sure that they are complete and accurate.

Thanks to tax preparation software, more of us are making fewer mistakes on our annual tax returns. But still, just one slip in entering information on your computer could end up costing you, either in the form of a larger tax bill or a smaller refund.

Let’s have a look at some of the common tax filing mistakes:

1. Choosing the wrong ITR form

First and important thing to do is to choose the correct form. There are a total of seven forms, out of which only four are applicable to individual taxpayers. Filling of an incorrect ITR form can lead to a defective return notice and the return is deemed to be not filed. While some online tax filing portals automatically select the ITR form based on your tax data, it is always a good idea to know the changes which happen every year in the various ITR forms.

2. Failing to include all sources of income

It is mandatory to include documentation of your income with your tax return. Failing to report any income that you received will make the IRS think that you are hiding something and they may seek to take a closer look at your return. This could be in the form of asking for additional documentation or even an audit.

If you know that you earned income from a company during the year and have not received the appropriate forms, it is better that contact the company. You don't want to find out that you are liable for additional taxes after the fact.

3. Mathematical mistakes

It is true that there are number of options available for tax filing but despite of that many people still file their returns manually. Yes, filing manually may save you money but it also leaves you open to the possibility of making common mathematical errors. Too many tax filers file incorrect returns because of a simple calculation error or placing the wrong digit in the wrong column.

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