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Excess interest, late fee paid while filing ITR to be refunded, says I-T department

Excess interest, late fee paid while filing ITR to be refunded, says I-T department


NEW DELHI: Excess interest amount or late fees paid by any taxpayer while filing income tax returns (ITR) for the financial year 2020-21 will be refunded, the tax department said on Wednesday.
The deadline to file income tax for FY21 was extended from July 31 to September 30 by the government in wake of the challenges faced by taxpayers due to the Covid-19 pandemic.
However, several taxpayers were charged a late fee as well as incorrect interest when they submitted their ITRs after the earlier deadline of July 31.
In a tweet, the tax department said that the software error was rectified on August 1 itself and urged taxpayers to use the latest version of the software.

It further assured that if anyone has submitted ITR with incorrect interest and late fee amount then the excess amount will be refunded to them, after careful calculations.

The new income tax e-filing portal www.incometax.gov.in had a bumpy start from the day of its launch on June 7 as it continued to face tech glitches.
The tax department has taken corrective measures through Infosys based on feedback from taxpayers, tax professionals and representatives of the Institute of Chartered Accountants of India (ICAI).
Certain key functionalities like user profile, ITR 1, 2 and 4 filing, e-proceedings, viewing of old ITRs, are available to the users on the new income tax portal, the government informed.
(With inputs from agencies)




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Written by Newz Hawker

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