Taxpayers get relief, IT department will refund more late fees and interest
Fees and interest are being charged by the taxpayers while filling the income tax return for 2020-21 on the new income tax portal. Whereas the last date from the department has been 30 September. Which has got a lot of opposition in social media. This is because the software has not been updated accordingly. In such a situation, a statement has come from the Income Tax Department.
It has been made clear to the Income Tax Department that if excess interest has been charged due to software while filing the return of 2020-21, then it will be refunded to the taxpayers by the department. Big relief has been given to the taxpayers by the Income Tax Department. Let us also tell you what kind of information has been given by the department.
While giving a Twitter statement on behalf of the Income Tax Department, it has been said that if the taxpayer has collected excess fees or interest while filing the income tax return, then it will be returned to the department. Let us tell you that due to the corona virus epidemic, the taxpayers were given relief on behalf of the department that the return of 2020-21 can be filed on September 30, 2021. The earlier date was fixed as July 31. After July 31, extra interest and late fees have been charged from those who filed returns through the portal.
It has been said by the Income Tax Department that the ITR software has already been reformed as on August 1 to remove the flaws related to wrong calculation of interest under section 234A and late fee under section 234F of the Income Tax Act. Taxpayers are being advised to file ITR with the latest version of IT preparation software or online ITR. Those who have filed ITR before August and have been charged late fee or interest will be refunded the extra money calculated while processing CPC-ITR.
According to tax experts, such errors are common in ITR or any other e-filing utility. Once these errors are detected, the IT department removes these problems and puts forward a new version. Experts say that taxpayers should always use the latest e-filing utility while filing ITR. If even after that the error shows up, then the concerned authorities are informed for this.
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