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Big relief for taxpayers! Additional interest and late fee will be refunded

By Ruchi Upadhyay 
Updated Date
Big relief for taxpayers! Additional interest and late fee will be refunded

New Delhi: Income Tax Latest Update: If you have also been charged late fee and more interest during Income Tax Return Filing for the financial year 2020-21, then there is good news for you. Because the money of extra interest and late fee will be returned to you.

Also Read :- Govt extends deadline for filing of various forms under I-T Act | Deets here

Late fee and interest will be refunded

The Income Tax Department has said that the excess interest and late fees paid by the taxpayers due to software glitches will be returned to them. Let us tell you that the Income Tax Department has extended the ITR filing deadline for the last financial year from July 31 to September 30, 2021. Some taxpayers had complained that late fees and interest are being charged from them if they are filing tax returns after July 31, 2021.

Software has been improved

Now the Income Tax Department has said that the ITR software was improved on August 1 itself to remove the mistake caused due to wrong calculation of interest. The tax department has advised taxpayers to use only its latest version for filing ITR.

Also Read :- New TDS rules: I-T Dept issues new functionality to check compliance, deets here

Correct calculation will be done during CPC-ITR

The Income Tax Department has written on Twitter that if someone has filed ITR and has been charged wrong late fee or interest, then after correct calculation during the process of CPC-ITR, if any excess amount is created, then it will be refunded. will be given. Earlier this week, some chartered accountants said that users have complained of technical issues on the site from day one and everything is still not working after a week. Taxpayers are unable to view previous e-filed returns and for many facilities ‘coming soon’ is written.

Let us tell you that Finance Minister Nirmala Sitharaman had also raised issues with the new return filing software. He also held a meeting with the officials of Infosys, the developer of this Income Tax Department site, and directed them to rectify the glitches in the software. The new portal of Income Tax was launched on 7th June, from the very first day of launch, complaints of irregularities started coming in it.

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