Your income tax return cannot be submitted to the tax department, unless you have paid tax dues in full.
Self – Assessment Tax is to be deposited to the credit of Government by using the challan prescribed in this behalf, i.e., ITNS 280.
Mode of Payment of Self Assessment Tax
Online Payment of self-assessment tax
Click to Pay ITNS 280
Challan for Physical Payment of self-assessment tax to the bank
Download ITNS 280
Tax can be paid in the designated banks through physical mode, i.e., cash/cheque also .
When is self-assessment tax payable
When on computation of income for the year for the purpose of filing the return of income it is found that some tax remains payable even after adjustment of
(a) advance tax, if any, paid,
(b) tax deducted/collected at source,
(c) relief/deduction of tax claimed u/s 90 or 91 on account of tax paid in a country outside India,
(d) relief of tax claimed u/s 90A on account of tax paid in any specified territory outside India, and
(e) tax credit claimed u/s 115JAA or under section 115JD,
such balance tax along with interest thereon is required to be paid as self-assessment tax before filing the return of income.
Computation of total income and tax liability for the year
|Income from salary||XXXXX|
|Income from house property||XXXXX|
|Profits and gains of business or profession||XXXXX|
|Income from other sources||XXXXX|
|Gross Total Income||XXXXX|
|Less : Deductions under Chapter VI-A (i.e., under section 80C to80U))||(XXXXX)|
|Total Income (i.e., taxable income)||XXXXX|
|Tax on total income to be computed at the applicable rates (for rates of tax, refer “Tax Rate” section)||XXXXX|
|Less : Rebate under section 87A||(XXXXX)|
|Tax Liability After Rebate||XXXXX|
|Tax Liability After Surcharge||XXXXX|
|Add: Education cess @ 2% on tax liability after surcharge||XXXXX|
|Add: Secondary and higher education cess @ 1% on tax liability after surcharge||XXXXX|
|Tax liability before rebate under sections 86, section 89, sections 90,90A and 91 (if any) (*)||XXXXX|
|Less : Rebate under sections 86, section 89, sections 90, 90A and91(if any) (*)||(XXXXX)|
|Tax liability for the year before pre-paid taxes||XXXXX|
|Less: Prepaid taxes in the form of TDS, TCS and advance tax||(XXXXX)|
|Self Assessment Tax payable||XXXXX|
(*) Rebate under section 86 is available to a member of association of persons (AOP) or body of individuals (BOI) in respect of income received by such member from the AOP/BOI.
Rebate (i.e., relief) under section 89 is available to a salaried employee in respect of sum received towards arrears of salary, gratuity, etc.
Note : For provisions relating to Minimum Alternate Tax (MAT) in case of corporate taxpayers and Alternate Minimum Tax (AMT) in case of non-corporate taxpayers refer tutorial on “MAT/AMT”.
Failure to pay self-assessment tax
Where an assessee fails to pay self-assessment tax and interest as required by section 140A(1) he will be deemed to be an assessee in default and will be liable for penalty as provided in section 221.
Filing of Income Tax Return without payment of self-assessment tax
Prior to assessment year 2017-18 , if an assessee files return of income, within time, without payment of self-assessment tax along with interest, if any, in terms of Explanation (aa) below sub-section (9)of Section 139 it would be considered as defective.
Finance Act, 2016, has carried out omits the said clause (aa), with effect from assessment year 2017-18. Accordingly, from and after assessment year 2017-18, if a return of income is filed within the permitted time or otherwise, without paying self-assessment tax along with interest, if any, it would not be considered as defective return.