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What is mean by self assessment tax

MPR sanjay Kumar (CA student)     25 January 2021

MPR sanjay Kumar
CA student 
 8 likes  204 points

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

Aditi Kaur (Practising CA)    25 January 2021

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Sourav (Student)     25 January 2021

 265 likes  4129 points

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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

Krishna Chaudhary
 597 likes  4468 points

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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

Kapadia Pravin

 1020 likes  16009 points

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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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