Filling up 280 challan

Have you considered 80TTA wherein you can get deduction of Rs. 10,000 from your interest on saving bank A/C.

Penalty must have been levied by them (not by us) and must have been specified in the order. I doubt you have received such an order (if it relates to 271F. If a person who is required to furnish a return of his income, as required under sub-section (1) of section 139 or by the provisos to that sub-section, fails to furnish such return before the end of the relevant assessment year, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of five thousand rupees.]

So there should be no penalty u/s 271F for late filing, if you have any other penalty order then let us know

When you will be filing the return then it should automatically compute interest u/s 234A ,B,C (as the case maybe)

If you are paying any penalty then use code 400 (Tax on regular assessment)

Lest use 300 (self Assessment tax)

I think i confused you.

I have not yet filed returns for year ending 31st March 2014. (belated returns).

I have filled all my details in ITR Form 1 But it says Tax payable is 12310/-.

The 12310 (Includes all the Interest component and so on)

Hence, i tried to pay using Challan 280. While filling Challan 280 - it is asking for

all the details like:

Mind if I ask for the file?

The tax amount you are telling is high, other income you are telling us is interest from bank and you are an employee so there must have been TDS

You are telling us Amount payable

Check net tax liability and interest payable portions

There should be no penalty so that is ruled out 

I think i confused you.

If someone has an Other income of around 43000 from saving banks interest aprt from his salary (TDS)

and he belongs to the 30% bracket. He will get an Tax liability of around 12000.

This includes (Income tax and interest charges) as computed by ITR 1 Form.

Now, my question is not the compution of the liability but the procedure of

filing Challan 280.

Sorry I misread 30% + There is little difference in wordings under ITR-1 & 2. Hope this post will help you

1. There is no penalty, I quoted S.271F for this purpose

2. Enter the value under "Total interest payable" under the interest coloumn of challan

3. Enter value under "Tax payable after rebate" under Income tax 

4. Enter value under "Cess" under Education cess

Nothing in Penalty or other portion

Thanks Z. Actually, I already filed Challan 280.

I only filled the Income tax field Instead of filling all the other.

fields. I filled only the tax payable/Income tax (Taken from ITR 1)

Will there be a problem?

You can rectify the challan within 7 days. You may contact your AO for this

In my previous to previous post also I was telling to see the interest payable portion