Hi,
There are three types of Tax Payments in Challan no. 280 as follows.
1. Advance tax (100)
2. Self-assessment Tax (300)
3. Tax on Regular assessment (400)
Could anyone please explain the same with example.
Regards,
Vivek.
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Challan ITNS 280.
Replies (1)
Dear Sir,
Tax Liability is discharged in various ways -
1) TDS/TCS - When ur customer/buyer deposits Tax on ur behalf & issues certificate to you.
2) Advance Tax - When assesse pays tax in respect of a Financial year during the FY itself.
3) Self Assesment Tax - When tax is paid by the assesee on his own after the end of the Financial yaer.
4) Tax on regular assessments- When Tax is found payable as a result of a assessment scrutiny or otherwise, then it is known "Tax on regular assessment"
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