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tax on self assessment

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(Querist)
18 August 2008



What is the meaning of tax on self assessment?
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Vishnu Agarwal

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Vishnu Agarwal (Querist)
18 August 2008

Tell me any example of it.
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Vishnu Agarwal

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Vishnu Agarwal (Querist)
18 August 2008

reply as early as possible
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
18 August 2008 It is the income tax or balance of tax payable by you on the basis of computation of taxable income and completion of Return of income. For example if on the basis of your return tax payable comes as Rs 5000. If you have already paid tax by way of adv, tax or TDS Rs 4500, the balace to be paid of Rs 500 while filing return is called self assessment tax.
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Vishnu Agarwal

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Vishnu Agarwal (Querist)
18 August 2008


thanx
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Vishnu Agarwal

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Vishnu Agarwal (Querist)
18 August 2008



Thanks a lot
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CA Abhishek Tyagi

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CA Abhishek Tyagi (Expert)
18 August 2008 It is the tax based on the self computation at the time of filling of income tax return.
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