Income tax
This query is : Resolved
06 April 2012
Dear Sir,
I wish to clarify a doubt regarding Income Tax Payment.
Is it possible an assessee pay the Self Assessment Tax in installment basis without prior permission of Assessing officer after filing of the return?
i.e. An Assessee has file the IT Reurn with Tax Payable(Self Assessed) for Rs.10 Lakh.Now he has decided to pay the tax in different installments.Is it possible/allowable?
If yes which type of payment should be selected at the time of payment?
S.Jegadeesan
I wish to clarify a doubt regarding Income Tax Payment.
Is it possible an assessee pay the Self Assessment Tax in installment basis without prior permission of Assessing officer after filing of the return?
i.e. An Assessee has file the IT Reurn with Tax Payable(Self Assessed) for Rs.10 Lakh.Now he has decided to pay the tax in different installments.Is it possible/allowable?
If yes which type of payment should be selected at the time of payment?
S.Jegadeesan
06 April 2012
Section 140A prescribes that an assessee shall pay the tax before filing the return. Otherwise he shall be treated as an assessee in default.
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