Who is Responsible For Mistakes In ITR Filed By CA? Who Will Pay The Penalty? Here Is What Government Has To Say!
Updated: 28-01-2025 at 6:34 AM
1k
Mr. Adarsh Kumar, a Mumbai-based multinational firm employee, is very satisfied with his Chartered Accountant (CA). Why shouldn’t he be? A tax refund amounting to fifty thousand Indian Rupees was obtained for him by his CA. When Adarsh told this to his friend, even his friend decided to fill in the Income Tax Return form through Adarsh’s CA. With different deductions being utilised by the CA on behalf of Mr Adarsh, notwithstanding TDS being deducted from him, he got a refund of this same 50k. Nevertheless, Adarsh did not know that the deductions he had been making were based on false information provided by his CA.
Government Notification
A notification was made in 2018 by the Income Tax Department on this matter. While filing ITR online no documents are taken according to the department. Thus every individual taxpayer who makes use of any deduction-related document must preserve it at all times.
The responsibility of filing an accurate and timely Income Tax Return rests with you as a taxpayer. If there happens to be a mistake made by your CA then you will still be held responsible for it. Responsibility for errors in ITR filed by CA can be implied from such declaration.
What To Do If A Mistake Occurs?
As a taxpayer, one must ensure that no wrong information is entered or correct information is hidden in the ITR form.
After having submitted the ITR cross check it after some time. In case any faults are identified before the end date of submission one can initiate fresh returns within the time specified.
Thereby such return will not get refused and besides that, there shall be none other charges being accrued against people who had delayed.
The Process for revising an incorrect Income Tax Return is quite simple and should be followed immediately in case of any fault.
What Are The Penalties For Incorrect ITR?
The income tax department may slap huge fines on such taxpayers if they have presented wrong information in their ITRs to claim a refund. The penalty on the amount of refunds shall be along with interest and penalties for the same.
Government can impose penalties ranging from 100% to 300% if tax evasion goes beyond ₹25 lakh and there can even be imprisonment in severe cases as well.
Thus, it is mandatory to understand Penalties for incorrect Income Tax Returns in India and the legal implications of incorrect ITR filings.
Tips For Correctly Filing ITR?
-
Keep All Documents Accurate: Have all your necessary documents, which should also be accurate.
-
Choose Your CA Carefully: Make sure you choose a reputable CA that will file your ITR correctly.
-
Review the ITR Form: Check all the information accurately before filing the ITR.
-
File on Time: It is very critical to ensure that you file your ITR on time so as not to attract any fines. Keep How to avoid penalties for ITR mistakes in mind.
What To Do If Your CA Makes A Mistake?
In case your CA has made some errors, get familiarised with how you should behave by following the Steps to correct errors in filed Income Tax Returns by submitting revised returns you can easily correct such errors on time.
Government’s Perspective
This means taxpayers bear full responsibility for all mistakes committed by CAs as per the Government rules on tax filing errors by Chartered Accountants. Hence, taxpayers should be wary of verifying every detail.
Conclusion
Income Tax Return filing must be done with care. If your CA commits a mistake, you will be the one to be blamed. Ensure that you cross-check every piece of information about ITR errors correctly and file a rectified ITR if needed. The official website of the government provides more information and updates for clarification on this matter.
Take control of your tax filings double-check every detail and file accurately to avoid any complications. Visit the official government website for the latest updates and guidance.
Found an error in your Income Tax filing? No worries! You can quickly rectify it through the Income Tax portal. Click here to follow the simple steps and ensure your filing is accurate.
Also, stay updated with all the news related to the Income tax world of India with Jaagruk Bharat.
Frequently Asked Questions
0
0
1k
0
0
1k Views
0
No comments available
Our Company
Home
About
T&C
Privacy Policy
Eula
Disclaimer Policy
Code of Ethics
Contact Us
Cancellation & Refund Policy
Categories
Women
Insurance
Finance
Tax
Travel
Transport & Infrastructure
Food
Entertainment
Communication
Government ID Cards
E-commerce
Traffic guidelines
Miscellaneous
Housing and Sanitation
Sports
Startup
Environment and Safety
Education
Agriculture
Social cause
Disclaimer: Jaagruk Bharat is a private organization offering support for documentation and government scheme access. We are not affiliated with any government body. Official services are available on respective government portals. Our goal is to make processes easier and more accessible for citizens.
Jaagruk Bharat with its team work tirelessly to bring all government schemes, Sarkari Yojanas, policies and guidelines to you in a simplified and structured format.
Our team is at the forefront of gathering, verifying and breaking all central government and state government regulations uncomplicatedly.
Our mission and vision are to make the common citizen of India aware of all government-laid-out rules and policies in a single place. Thus, we Jagruk Bharat have created an all-inclusive portal for 1.5 billion Indian citizens to understand, utilize and avail benefits of govt schemes and policies and by bringing them under one roof.
Jaagruk Bharat (जागरूक भारत) is a one stop centralised destination where you can effortlessly find, understand, and apply for various government schemes. We are committed to ensuring transparency and empowering Indian citizens. Our goal is to keep India Jagruk about government policies, the latest news, updates, and opportunities.
All Copyrights are reserved by Jaagruk Bharat