A senior citizen using the ITR-2 utility for AY 2020-21 encountered an unexpected £10,000 fee under Section 234F, typically applied for late filing. Despite filing well before the due date, the utility automatically included this charge, reducing their potential refund. Upon investigation, it was realised the user was mistakenly using outdated forms for the previous assessment year, as the government had not yet updated the new forms.
Guest
Guest
(Querist)
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.