Self Assessment Tax

What is Self-Assessment Tax?

Self-Assessment Tax is what taxpayers pay to cover their remaining tax bill after considering TDS, Advance Tax, and any other credits, based on their own assessment.

How is Self-Assessment Tax Calculated?

Taxpayers figure out Self-Assessment Tax by subtracting taxes they've already paid (like TDS and Advance Tax) and any tax credits from their total tax bill for the year.

How can Self-Assessment Tax be paid?

You can pay Self-Assessment Tax online via the Income Tax Department's website using Challan 280 or at authorized bank branches.

What happens if Self-Assessment Tax is not paid or paid inadequately?

Non-payment or inadequate payment of Self-Assessment Tax may result in interest charges under section 234A of the Income Tax Act and possible penalties.