Self-Assessment Tax

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This refers to any balance paid tax through the assessee on income that was assessed after taking advance tax and TDS into play before the filling of the return income tax. All corporations and individuals are liable to self-assessment tax payment. There are certainly no precise dates to make the required payments. It is only stated that defaults in the tax payment or filling the required returns will start fetching interest as from 31stJuly.


Tax liability will be calculated after the consideration of various exemptions and deductions. In the event that the sum of entire tax paid [TDS total and tax advance] is lesser than the entire tax liability. This means that the remaining balance tax is owed to the government. This can either be from a corporation or an individual. Therefore,it’s paid as assessment self-tax.

There two different procedures through which a person can make payment on the tax. It can either be direct payment mode or online payments mode. Below both procedures will be discussed and elaborated on.

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Direct payment mode

A person or a corporation can make the necessary payments through filling of the challan tax payment, ITNS 280. The Challans can be found at the selected bank branches that have a department that deals with income tax.


Online payment mode

The tax could be payed by simply visiting their link


When you are in the website, select the Challan No. ITNS 280, as it is the number which is used in the payment of the corporation tax and income tax.

  • Choose Tax that is applicable as[income tax – 0021 – other than other establishments]
  • Choose the year of assessment
  • Then choose the payment type as assessment self-tax and go ahead to fill in the required information
  • The online payment is allowed to be made by net banking but not debit cards
  • You are then required to choose the correct year of assessment
  • Fill the required form and afterwards click on proceed
  • Give all the required tax details on the form
  • Key in the payable tax amount
  • Afterward confirm and then proceed


The tax income return can only be filled if you have paid the due tax to the central government. Defaulting on tax payment is regarded as a criminal offense and an individual or certain corporation is liable to penalties punishable the law courts system. Moreover, the more you delay or postpone the payment the more the interest amount grows. This will go on till the time you will decide to make necessary required payments. It is important to make the appropriate payments on time before the tax cost became too expensive to deal with.

Once you have cleared on tax payment it will soon after show on 26AS form within at least 2 to 3 days since the payment date. It is important to ensure you select the correct year since the wrong year choice will lead you pay the tax amount of the wrong chosen year. However, this can be corrected through rectification challan process. In case there is any occurring problem please contact the tax department and ask for assistance.