Filing tax return at the last minute: What to do and what to avoid

Missing the deadline for the annual exercise can lead to penalties and more paper work

The deadline to file your income tax return (ITR) ends on July 31, Monday. Expecting the Income Tax department to extend the filing deadline isn't wise. "It is imperative to file your ITR on time in order to avoid penalties and interest," says Vipul Jai, partner, PSL Advocates and Solicitors.

Here's a checklist to help you file your ITR before deadline.

Start with collecting the required documents; it varies depending on your income. Essential documents for filing ITR include PAN Card, Aadhaar Card, Form-16, 16A, 16B, 16C, 26AS, Annual Information Statement (AIS), and Taxpayer Information Summary (TIS). Salary Slips, bank