I want to pay off my interest u/s 220(2) as on the website of incometax department my outstanding tax demand shows a demand of interest u/s 220(2) for the AY 2010-11.
while paying this interest through challan 280 there is an option to select the type of payment such as :
(100)ADVANCE TAX (102)SURTAX (300)SELF ASSESSMENT TAX (106)TAX ON DISTRIBUTED PROFITS (400)TAX ON REGULAR ASSESSMENT (107)TAX ON DISTRIBUTED INCOME
from these options which option should be selected for payment of interest online through challan 280 ?
Is there any other thing which should be taken into account while paying this interest?
31 October 2014
Quote (400) Tax on Regular Assessment, as you pay this interest after demand raised from IT department. Fill amount in Interest column. There may be any Interest payable in the Demand Interest. For this you may consult you ITO also.
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