E-payment of tax

This query is : Resolved

Nischit Sanghavi (Querist)
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04 August 2014 As per Income Tax, if tax liability is more than Rs.100,000/- for financial year then tax will be required to pay online. My query is Rs.100,000/- is for self asst. tax only? if my TDS is deducted for Rs.100000/- and i need to pay Rs.5000 as self asst, then can i pay it in cash or online as my total tax is Rs.105,000/-?

CA DHEERAJ

CA DHEERAJ (Expert)
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04 August 2014 TAX LIABILITY MEANS TAX ON YOUR INCOME BEFORE TDS ADJUSTMENT,

TAX LIABILITY MEANS NOT "TAX PAYBLE"

IN YOUR CASE YOUR TAX LIABILITY IS 105000
AND YOUR TAX PAYBLE IS RS 5000
SO YOU ARE REQUIRED TO PAY TAX ONLINE RS. 5000