The Income Tax Department will refund excess amount of interest and late fee paid by taxpayers during the return filing for FY21.
In a tweet, the department said that the income tax return filing software was rectified on 1 August 2021 to remove the error due to incorrect computation of interest u/s 234A and late fee u/s 234F.
"Taxpayers have been advised to use the latest version of the ITR preparation software or file online," it said.
"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," it said.
The department tweeted in response to a news report.
The deadline for filing ITR for the last financial year was extended to 30 September 2021, in a bid to provide relief to taxpayers amid the pandemic.
(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.