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MPR sanjay Kumar (CA student)     25 January 2021

What is mean by self assessment tax

could you plse tell me what is mean by self assessment tax...


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 3 Replies

Sourav

Sourav (Student)     25 January 2021

Self assessment tax means tax that assessed by the assessee on their own as per estimated of income
u/s 140
Krishna Chaudhary

Krishna Chaudhary (Accountant)     25 January 2021

Self Assessment tax means any balance tax paid by the assessee on the assessed income after taking TDS and Advance tax into account before filing the Return of income. Self-assessment tax is paid for a particular financial year end. Challan No/ ITNS 280 is required to be used for the payment of Self assessment tax.
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Kapadia Pravin

Kapadia Pravin   26 January 2021

Self Assessment Tax is tax amount arrived at by Total tax payable as reduced by a) TDS b) TCS C) Advance Tax instalment payments.

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