Self assessment tax

ITR 1101 views 4 replies

anshul

68 Points Joined July 2012

Hi I am using ITR 2 to file my returns.

On clicking calculate tax button, the sheet shows tax payable as Rs. 33800.

I then proceeded to pay tax online. Used Challan 280. And filled the values as follows.

Interest of Rs. 2381 was calculated by ITR 2 sheet itself. And then I subracted 3% from the income tax payable and entered as Education cess. i.e 3% of (33800-2381)

Did I goof it up and should I have enetered Rs. 33800 under tax (520) itself. If yes, what should I do now.

Sr.No. (517)	Major Head Code# (518)	Minor Head Code% (519)	Tax (520)	Surcharge (521)	Education Cess (522)	Interest (523)	Others (524)	Total Tax (525)	BSR Code (526)	Date on Which Tax Deposited (527)	Challan Serial No. (528)	Remarks (in case of reversals)*
1	0021	300	30477.00	0.00	942.00	2381.00	0.00	33800.00		14-07-2012
	Total							33800.00

Any help would be greatly appreciated.

Thanks

Replies (4)

CA Gnanika

485 Points Joined August 2007

First check out the break up of values of tax payable.

Puneet Mittal

Sr. Officer Accounts

212 Points Joined December 2009

Dear Anshul,

As per ITR 2 if tax is payable Rs. 33800 including interest Rs 2381. Than calculation of tax payble would be as follws-

Income Tax 30504

Education Cess 915

Interest 2381.

anshul

68 Points Joined July 2012

Thanks Puneet.

But in challan 280, I entered the values as 30477, 942 & 2381.

Am I required to pay additional tax of Rs.27? (30504-30477)

Veeresh Aggarwal

CA Final

36 Points Joined July 2010

An Intimation u/s 143(1) will be served to you by CPC however amounts under rs.100 do not form default in payment of tax so you can adjust the remaining unpaid amount in the next A.Y.