Income Tax in MediaMedia

Error in ITR Utility: Penal interest is automatically getting added to taxpayers who don’t have to pay advance tax, check the details

Chartered Accountant Aditi Bhardwaj shared on micro-blogging website X (formerly Twitter) that there is an error in calculating Section 234C interest in the Income Tax Return Utility. She and other Chartered Accountants highlighted that if this error in ITR utility’s Section 234C related to interest calculation is not fixed then many taxpayers may get automated tax notices or face issues at the time of their ITR processing, for no fault of theirs.