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GOOD NEWS: Income Tax has this important message for you | Excess interest and late fee refund confirmed

The last date for filing ITR for last financial year has been extended till September 30, 2021, from July 31 to give taxpayers compliance relief during the pandemic.

It’s a good news! In a major development, the Income Tax Department on Wednesday said it will refund the excess interest and late fee paid by taxpayers due to software error while filing ITR for 2020-21, as per a report in PTI.Also Read:LPG connection will be available even without ration card or residence certificate, apply like this




The last date for filing ITR for last financial year has been extended till September 30, 2021, from July 31 to give taxpayers compliance relief during the pandemic.Also Read:Great news for WhatsApp users! Now you can edit photos before sending

However, some taxpayers complained that interest and late fee was charged while fil?ing income tax return (ITR) after July 31, 2021.Also Read:PNB is giving you a chance to buy property cheaply, you can also bid in mega e-auction

The department in a tweet said the ITR software was rectified on August 1 itself to remove the error due to incorrect computation of interest under section 234A and late fee under section 234F of Income Tax Act.Also Read:Good News: NDL will prepare students across the country for IIT-NEET sitting at home




“Taxpayers have been advised to use the latest version of the ITR preparation software or file online. If, by any chance, someone has already submitted the ITR with such incorrect interest or late fee, the same will be correctly calculated while processing at CPC-ITR and the excess amount paid, if any, will be refunded in the normal course,” the I-T department tweeted.Also Read:Powerful plans of Vodafone Idea! 5 people in the family will get unlimited internet

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