My employer did an incorrect HRA calculation putting exemption as 272305. The correct exemption is 31920. I discovered the mistake just last week. I'm told that this correction can be done during filing by increasing the salary by the difference of the numbers above. When I do so, the ITR calculation puts a Rs. 3000 under 234B and Rs. 2769 under 234C. If I accept those entries, for no fault of mine I will have to pay a penalty of 5769. Thankfully, the fields are editable, hence this post on forum - Can I edit the fields to 0 value? Once calculated, I intend to remit the difference in tax Rs.74281 (in ITR I'm entering this amount under Schedule IT as self assessment tax with pay date of 14 Jul 2014 but still the penalties are showing up on recalculation)
Pls suggest and share your views!
Thanks in advance,
Rahul
CAclubindia
