ITR Filing Update: The last date for filing income tax returns is coming closer. You have to complete this work before 31st July. During this time, if your CA makes a mistake in haste, then who will be responsible for it? The government has clarified the situation on this.
Aadarsh Kumar, who works in a multinational company in Mumbai, is very happy with his Chartered Accountant (CA). Why shouldn’t he be happy, because his CA has got him a refund of Rs 50,000. When Aadarsh told this to his friend, he also requested Aadarsh’s CA to file his income tax return. Aadarsh’s CA helped him get the benefit of all kinds of deductions and got him a refund of Rs 50,000 despite TDS being deducted.
When Adarsh told this to his friend, he also talked to some tax experts about this. Then he came to know that Adarsh’s CA was saving his tax by giving wrong information in deductions. In return, Adarsh’s CA also took 15 percent of the money received as refund. This may not happen only with Adarsh, but with many taxpayers. If the CA fills your ITR by giving wrong information to get his commission, then who will be responsible for this?
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The government had issued a notification.
The Income Tax Department had issued a notification in 2018 to clear the picture in such a case. The department had said that no document is required for filing ITR online. Obviously, the taxpayer must have kept the documents of whatever deduction he claims. It is the responsibility of the taxpayer to file the ITR correctly and on time. In such a situation, even if the CA makes any mistake, the responsibility will fall on the taxpayer.
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What to do if a mistake is made?
As a taxpayer, you must always be prepared to ensure that no wrong information is entered in your ITR form and no correct information is hidden. After filling the ITR, you should also match it once yourself. If you see any mistake and the deadline for filing the return has not yet passed, you can file a revised ITR within the stipulated time. This will also prevent your ITR from being rejected and you will be saved from paying late fees along with penalty.
What is the penalty for filing a wrong ITR?
If a refund is taken by giving wrong information while filing ITR, then the Income Tax Department can impose a heavy penalty on such taxpayers. The refund amount will be recovered along with penalty and interest. If the tax evasion is more than Rs 25 lakh, then the government can also impose a penalty of 100 to 300 percent and in serious cases, the taxpayer can also be jailed.
