INTEREST CALCULATION FOR UPDATED RETURN FILED U/S 139(8A)
This query is : Resolved
Quick Summary
NIRMAL DAVE
(Querist)
18 March 2025
Dear All,
Original Income Tax return was filed with refund claim. Refund was also issued by department. Now it is came to notice that certain income was not offered in that Income tax return.
Now if updated return is prepared, we got less amt. of refund than that which was earlier claimed by us and issued by department which means we have to pay that refund which was wrongly claimed along with 25%/50% additional tax.
We need not to pay any income tax if that income was properly offered in that income tax return at the time of filing of original return rather we got less refund in that ITR.
Now my question is that whether any interest liability u/s 234A/234B/234C will arise in such situation while filing updated return u/s 139(8A)?
Thanking You
Nirmal Dave
Original Income Tax return was filed with refund claim. Refund was also issued by department. Now it is came to notice that certain income was not offered in that Income tax return.
Now if updated return is prepared, we got less amt. of refund than that which was earlier claimed by us and issued by department which means we have to pay that refund which was wrongly claimed along with 25%/50% additional tax.
We need not to pay any income tax if that income was properly offered in that income tax return at the time of filing of original return rather we got less refund in that ITR.
Now my question is that whether any interest liability u/s 234A/234B/234C will arise in such situation while filing updated return u/s 139(8A)?
Thanking You
Nirmal Dave
21 March 2025
Yes, you may incur interest liabilities under sections 234A, 234B, and 234C depending on whether there were delays in filing or payments related to advance tax.
NIRMAL DAVE
(Querist)
07 April 2025
Thank you sir for your valuable reply.
07 April 2025
You are welcome..
04 October 2025
Good luck...
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