Self assessment tax

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)

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

 

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.

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)

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.

 

 

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