Before filing your return, make sure you have entered all the details correctly. Starting from the basic information like PAN, bank details etc to entering all the income details, if any mistake is committed, it may lead to confusion and huge tax demands. Let us find those error prone areas due to which you can have a tax amount due.
1.Firstly check whether you have entered all the income details correctly. Check income and TDS amount in your return and form 26AS. If there is a mismatch , it can lead to tax amount due.
2.Many a times, it happens that TDS is deducted at a lower rate and when gross total income is calculated, your tax becomes due as you fall in higher slab rate.
3.Do not forget to enter deduction of saving bank interest under section 80TTA after disclosing such income under income from other sources.
4.Also remember to set off previous year losses, if any, so that you can reduce your current year tax liability.
5.Another case when tax is payable is when employees change jobs and fail to submit investment proofs to their current employer. The current employer could also take the minimum exemption and Section 80C deduction into consideration, and might not deduct taxes as much as they should have.
There can be several reasons why you have tax due, but these were some common reasons. Do make sure that if you have tax due even after considering all these points , then you pay your taxes on time to avoid any interest on the same.You can pay your taxes today, then revise your return, if you feel you have made a mistake or paid extra taxes and claim refund. But do not keep tax payment pending otherwise it will be considered as a defective return.