New income tax portal errors resulting in reduced tax refund amounts for many

• December 3, 2021
• CA Chandan Agarwal's Office

• The reason stated by the income tax department in the intimation notice for giving less tax refund than claimed is: Form 26AS does not contain/contains partial amount of TDS with respect to the TAN mentioned in schedule TDS 1/TDS 2/TCS.
  • Tax experts and chartered accountants say that something like this happening is rare and does not normally happen during ITR filing season.

  Have you received lower amount of tax refund than what you had claimed while filing your income tax return (ITR) for FY 2020-21? If yes, then you are not alone; several tax return filers this year have had their bank accounts credited with lower tax refund amounts. This is because the new income tax portal has not considered/taken into account the full tax credit available in the Form 26AS for these tax return filers.

  Read more at:
  https://economictimes.indiatimes.com/wealth/tax/new-income-tax-portal-errors-resulting-in-reduced-tax-refund-amounts-for-many/articleshow/88022306.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst