30 May 2020
I am a Sr Citizen using ITR-2 software utility for AY 2020-21 (FY 2019-20). I only have two sources of Income...: 1) ...from Other sources: 582104 2) STCG (taxable at 15%): 110522 (after adjusting previous AY Carried Forward Loss ie STCL)
Deductions u/s VI-A: 154071 My Gross tax payable: 23899
I confused by Part B-TTI: 13) Interest and fee payable d) Fee for default in furnishing return of income (section 234F): Rs 10,000/-
Section 234F is only applicable if filing after due date (usu 31st July of AY). We're still in end-May. Why is the ITR-2 utility applying Fee for Default in furnishing return!?
Is this an error in the utility? If I accept this, my Refund is reduced by Rs 10,000.