self assessment tax
This query is : Resolved
Vikas Gupta
(Querist)
13 July 2010
what is self assessment tax?
13 July 2010
AFTER CLOSING OF FINANCIAL YEAR, WE WILL HAVE TO CALCULATE OUR TAX LAIBLITY. IF AFTER COMPUTATION WE FOUND THAT TAX PAYABLE AFTER TAKING CREDIT OF ADVANCE TAX AND TDS , THEN WE HAVE TO DEPOSIT IT TO GOVT IN FORM 280 UNDER SELF ASSESSMENT TAX .
I.E WE HAVE TO ASSESS SELF BEFORE FILING OF RETURN.
I.E WE HAVE TO ASSESS SELF BEFORE FILING OF RETURN.
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Aditya Maheshwari
(Expert)
13 July 2010
Tax that we pay after the close of the year and before filing of return i. e. balance tax payable as per computation of total income is known as self assessment tax
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Rahul Gupta
(Expert)
13 July 2010
Well Explained by Experts. Jst in addition
Self Asseessment tax = Tax Lability(Including Cess) - Advance Tax - TDS Deducted.
Self Asseessment tax = Tax Lability(Including Cess) - Advance Tax - TDS Deducted.
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13 July 2010
WELL EXPLAINED BY BOTH EXPERTS.
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Vikas Gupta
(Querist)
13 July 2010
THANKS
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