How to pay Self-Assessment tax online
How to Pay Self Assessment Tax Online
In this post, we will discuss what a Self-Assessment Tax is, when it needs to be paid, and how you can easily pay it online through the Income Tax e-filing portal.
Let’s look at each section in detail:
Self-Assessment tax - Introduction
Self-Assessment Tax is the tax you pay on year completion, after adjusting Advance Tax and TDS on your total income for the year. If you need to file an income tax return, you should first pay this tax. It can be paid using Challan 280, which is also used while e-filing your return.
There’s no fixed date to pay Self Assessment Tax since it’s calculated after the financial year ends. But needs to be paid before filing your return, otherwise, you will not be able to file the return.
How to pay self-assessment tax online?
Step 3: Now, click on the New Payment button.
Step 4: Choose Income Tax from the list and click Proceed.
Step 5: Choose the right Assessment Year and pick Self-Assessment Tax (300) from the list, then go to the next step.
Step 6: Fill in the tax amount and go ahead to finish the payment.
Step 7: Choose the payment method i.e NetBanking, UPI, Card etc.
Once the payment is done, just click the download button to get your Challan.
This concludes our post. Please leave any questions or comments in the box below; and we will happily respond.
FAQs
Q1. Can I pay a Self-Assessment tax in instalments?
Ans: Yes, you can pay it in parts. Just make sure the full amount is paid before you file your ITR.
Q2. What is the due date to pay the self-assessment tax?
Ans: There is no fixed due date to pay self-assessment tax. But it must be paid before filing your return. If you don’t, you might get a notice from the Income Tax Department or have to pay interest or a penalty.
Q3. What is the timing of E-Payment of taxes?
Ans: You can pay all direct taxes online anytime, 24×7, using internet banking or a debit card.
Q4. Is there any time limit to pay tax once the challan is created?
Ans: Yes, once the challan is created, you should pay the tax within 15 days from the date the CRN (Challan Reference Number) is generated.
