Every year, lakhs of taxpayers in India miss out on money that’s rightfully theirs—not because of fraud or penalties, but because they didn’t claim the refund.

The good news? These refunds can be recovered—legally.

Whether you’re a salaried person, small or big business owner, or a freelancer, understanding the income tax system and employing smart filing strategies can always help you save a bit more money.

Follow these simple yet powerful steps to get more out of what you pay as tax:

File now, relax later

Early bird gets the worm, just like how early filing gets processed faster. Filing IT can be tedious; it’s not a wonder why you like procrastinating it. But you know, when you file early:

• You avoid last-minute server crashes or portal slowdowns.
• You get more time to correct mistakes if any.
• You can also avoid penalties and deductions.
• And finally have peace of mind that you have filed your IT properly without any errors.

Claim all the deductions you are eligible for

Use every eligible deduction available under various sections like:

• Section 80C – Investments and expenses made such as Public Provident Fund (PPF), Employee Provident Fund (EPF), National Savings Certificate (NSC), Tax Saving Fixed Deposits, and children’s tuition fees, can let you claim up to 1.5 lakh/year.
• Section 80D -Health insurance premiums and medical expenses can be deducted.
• Section 80E – Can be deducted for Education loan.
• Section 80CCD(1B) - NPS contribution, can be deducted up to ₹50,000.
• Section 80G – up to 100% or 50% can be claimed on donations made to charity.
• Section 24(b) - Deduction on home loan for up to 2 lakh/Year.

Set off your losses

If you've had losses in shares, mutual funds, or property, don’t hide them. You can use capital loss against capital gain to reduce taxable income. You can also carry forward the loss for up to 8 years.

The Income Tax Department has done this so that people can pay tax only for their net gain.

Type of loss	Set off against
Capital loss from share / property	Capital gains from share / property
House property loss	Any Income
Business Loss	Business income






Match TDS with AIS and form 26AS

TDS can be deducted a lot of times and can only be claimed when you file your returns. Cross checking with Form 26AS and AIS can help you find the tax that has not been claimed yet.

Accuracy is everything

One wrong typo can cost you your entire IT refund. That’s why:

• Double-check your bank account details (for refund deposit)
• Link and verify your PAN and Aadhaar
• Validate your income sources and deduction proofs

Final tip

Maximizing your refunds can be an easy process with planning, awareness, and professional guidance.

Tax360 we can help you make the most out of your IT refund and file your IT as early as possible smoothly. Cause your money deserves a comeback – so don’t let it slip away.