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income tax
what is self assessment of tax and its components as per section 140 .
Replies (4)
self assessment tax is the tax paid by you for a particular assessment year.
and what are its components
there are no components...the payment u made shall be used for paying for income tax including education cess, interest and penalties if any levied
self assessment tax is the tax calculated as per provisions of Act by you on the income declared by you. Tax inclues edu cess and interest if any u/s 234. penalty is not included as it has to be paid after levy of the same by dept
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