Things taxpayers overlook while filing the taxes

Filing Income Taxes can be quite a complicated process, especially for someone who has not attempted to do it themselves. In many circumstances people simply do not know what are the incomes they need to declare or get confused with the many calculations involved and forget to add certain incomes to their statements, this may lead to the person needing to pay penalties for not declaring certain incomes or may even cause the person to have a higher tax liability than required, because he/she, by declaring certain incomes could have claimed for deductions under various sections of the Income Tax Act.