ITR is a form which a person has to submit to the Income Tax Department of India during the year. This contains the information about the income he has earned during the year and the tax due on that income for that year.
There is good news for the tax payers. Income Tax Department decided to refund the excess amount and late fee for filing ITR for 20-2021 due to the software error. The department had earlier extended the last date for filing returns till September 30, 2021 from July 31, 2021 because of the pandemic.
“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.lexntax provide the online income tax registration services in delhi.