13 July 2010
AFTER CLOSING OF FINANCIAL YEAR, WE WILL HAVE TO CALCULATE OUR TAX LAIBLITY. IF AFTER COMPUTATION WE FOUND THAT TAX PAYABLE AFTER TAKING CREDIT OF ADVANCE TAX AND TDS , THEN WE HAVE TO DEPOSIT IT TO GOVT IN FORM 280 UNDER SELF ASSESSMENT TAX . I.E WE HAVE TO ASSESS SELF BEFORE FILING OF RETURN.
13 July 2010
Tax that we pay after the close of the year and before filing of return i. e. balance tax payable as per computation of total income is known as self assessment tax
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