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ITR update: If you have accidentally deducted more interest or late fee while filing your return, the Income Tax Department will refund your money.

If you have been charged more interest or late fee due to software error while filing your Income Tax Return for 2020-21, then Income Tax Department will refund your money.

The Income Tax Department said on micro-blogging site Twitter that if the additional interest or late fee charged from taxpayers while filing ITR, the IT Department will return the taxpayers.Also Read:Great news for WhatsApp users! Now you can edit photos before sending




Last date for filing ITR was extended

Significantly, giving relief to taxpayers during the pandemic, the last date for filing ITR for the last financial year has been extended from July 31, 2021 to September 30, 2021. However, even after this, some taxpayers have complained that they have been charged additional interest and late fees while filing their income tax returns after July 31, 2021.Also Read:PNB is giving you a chance to buy property cheaply, you can also bid in mega e-auction

IT department said – will refund if you charge more

In a tweet, the Income Tax Department said that the ITR software has already been reformed on August 1 to remove the loopholes related to incorrect calculation of interest under section 234A and late fee under section 234F of the Income Tax Act. Taxpayers have been advised to file ITR online with the latest version of ITR preparation software or online. If any wrong charges have already been made regarding interest or late fee, it will be calculated while processing the CPC-ITR and the excess amount deposited will be refunded.Also Read:Good News: NDL will prepare students across the country for IIT-NEET sitting at home

Always use latest version software

Nangia & Co LLP Partner Shailesh Kumar said that such lapses are common in ITR or any other e-filing utility. Once these errors are detected, the Income Tax Department removes these flaws and presents its new version.Also Read:Powerful plans of Vodafone Idea! 5 people in the family will get unlimited internet




Kumar said that is why taxpayers should always use the latest e-filing utility while filing ITR. If still there is any error in your filing, then it can be informed to the concerned authorities for resolution.Also Read:Indian Railways to run 25 unreserved special trains daily from next week – see full list here

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