what is mean by self assessment tax give examples plse
Replies (3)
Quick Summary
Self-assessment tax refers to the tax you calculate and pay on your total income after deducting any taxes already paid, such as TDS, TCS, and advance tax. This amount is due before you file your Income Tax Return (ITR). The discussion also touches upon related tax matters like corporate social responsibility under the Companies Act and specific queries regarding tax demand payments.
Self assessment tax is nothing but the tax determined on the total income that fall short after adjusting all prepaid taxes such as TDS tcs and advance tax which is required to be paid before filing ITR