ITR 2 online filing AY 25-26

ITR 368 views 6 replies

Hi All,

Trying to file ITR 2 online

  1. In the last schedule Part B - TTI - last question Do you at any time during the previous year,-(i) hold,as beneficial owner, beneficiary or otherwise, any asset (including financial interest in any entity) located outside India; or (ii) have signing authority in any account located outside India; or (iii) have income from any source outside India? [applicable only in case of a resident] [Ensure Schedule FA is filled up if the answer is Yes ] -   The answer is YES in my case and FA schedule also filled up. But even after that, in the preview NO is shown as selected. selected Yes in ITR and in preview NO is shown as selected. what to do with this error?
  2. In some cases mostly under new regime, 234C calculation has problem. The amount of interest 234c seems tobe higher in ITR compared to the calculation using income tax calculator with the same figureshas anyone experienced these errors or is any solution available?
Replies (6)
  1. Have you selected Schedule FA in schedule 'General' ? If yes, whether the schedule FA can be seen in preview? is Yes, then forget the 'NO; in preview.
  2. Check the calculation as per rules, no need to compare it with any other calculator. If it is as per rules, go ahead to file return.

Sir,

thank you so much for the reply

Yes i filled FA schedule. So i think as per your advice, i can ignore that preview NO.

regarding the calculation, the tax is already paid in june itself. and as per the income tax calculator and my calculation it was correct (new regime)

Now the ITR online filing ITR 2 is showing more interest that too in new regime only. How can the interest increase, when the tax if already fully paid in June itself. that too 234C is increasing.

Section 234C comes into play if you fail to pay the required percentage of advance tax by the specified due dates for each installment. In essence, it charges interest for the deferment or shortfall in these payments.

Interest Rate and Calculation:

  • The interest under Section 234C is charged at 1% per month or part of a month on the amount of the shortfall.

  • The calculation period varies:

    • For shortfalls in the June 15th, September 15th, and December 15th installments, interest is calculated for 3 months on the unpaid amount.

    • For a shortfall in the March 15th installment, interest is calculated for 1 month on the unpaid amount.

Exceptions (When interest under Section 234C may not be charged):

  • If your total tax liability for the year is less than ₹10,000.

  • If the shortfall in advance tax payment is due to:

    • Underestimation or failure to estimate income from capital gains.

    • Income of the nature referred to in sub-clause (ix) of clause (24) of section 2 (e.g., lottery winnings, crossword puzzles, gambling income).

    • In such cases, if the taxpayer pays the tax on such income as part of the immediately due advance tax installment, or if no installment is due, by the end of the financial year, they may be exempt from interest under Section 234C for that specific shortfall.

thank you for the explanation sir

In this case, tax was ascertained and paid along with 234B and 234C in June 2025. 

was waiting for the ITR2 release. Now since it is been released online, while trying to file the return, 234C increased by around 1400. (in new regime). I understand, after paying the tax in June 2025, I suppose there shouldnot be any change in  234C right? But it has increased, and i think this problem is only in new regime. 

In old regime, i didnt see this problem coming.

 

Con't understand such difference !! Tax liability can differ and based on that based on that interest over it.

Thank you sir for your answer.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register