Shortfall in self assessement tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2016 Dear Experts,
My return in submitted with small shortfall of Self Assessment tax. Kindly advise what would the consequences and what are the remedies available for me. If I make the payment of tax ( shortfall amount) now, should I still need to revise the return?

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2016 What if I don't file a revised return?

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2016 Dear experts, please revert with replies.

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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25 July 2025 Hey! About shortfall in Self-Assessment Tax (SAT):

Consequences of shortfall:
Interest under Section 234B and 234C may apply on the shortfall amount from the due date of payment till you actually pay.

If the shortfall is small and paid soon, usually penalties are not imposed, but interest is applicable.

If the tax department notices the shortfall, it can raise a demand or notice.

Remedies:
Pay the shortfall amount ASAP, including interest calculated till date.

You may not need to revise your return if the tax return filed is correct except for the payment shortfall.

After payment, you can file a revised return only if you need to correct other errors.

If the shortfall is significant or disputed, revising return with correct tax paid is advisable.

Steps you should take:
Calculate the shortfall tax.

Pay the tax plus interest immediately through challan (ITNS 280).

Keep the payment receipt for records.

Usually, no need to revise the return if only the payment is short.

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