Int. on Self Ass. Tax

This discussion addresses a common error where interest on self assessment tax has been mistakenly paid under the 'Basic Tax' head. The advice given suggests that HMRC will likely consider the total tax paid against the total payable. If the amount paid exceeds the amount due, a refund will be issued after the tax intimation under Section 143(1) is processed. No specific rectification process is mentioned, implying the system should handle the overpayment.