Many errors occur when taxpayers fail to complete all parts of the Excel utility properly. According to Mihir Tanna, Associate Director at S.K Patodia LLP, a common mistake is forgetting to fill in the last row of the Capital Gains schedule row F. It’s essential to enter the quarter-wise details and click the ‘Validate’ button at the top of the sheet. Without this step, your tax details, including capital gains and taxes, may not show up correctly.

Other Mistakes to Avoid

1. Use Pre-filled Data:
   Instead of entering all details manually, experts like CA Gaurav Aggarwal recommend logging into the income tax portal and downloading the pre-filled JSON file. Import this file into the Excel utility to minimize errors and save time.

2. Enable Macros in Excel:
   Without enabling macros, the Excel ITR utility will not function properly. Also, standard shortcuts like Ctrl+C and Ctrl+V will not work. You must use the F2 key to edit or copy cells in the utility.

3. Validate Each Section:
   Every section of the ITR utility (e.g., salary, capital gains, deductions) has its own ‘Validate’ button. Ensure you validate each section and then click ‘Calculate Tax’ to ensure that the entire return is error-free.

4. Keep a Backup:
   It’s always a good idea to keep a backup of your work, especially when using Excel. If a mistake happens or the file gets corrupted, you’ll have a copy to start from without losing your progress. Saving the file at different stages can prevent you from having to redo everything from scratch.

Filing taxes doesn’t have to be a headache. By following these steps and double-checking your work, you can avoid common tax filing errors and ensure your ITR-2 or ITR-3 is filed correctly. Don’t rush to submit your returns take your time and make sure everything is accurate to prevent future tax notices.