Hello CAClub Indians ,
I am Roger Anand. I am going to pay income tax for the first time . I am doing affiliate marketing as individual . There is no TDS detucted by paying company . I am the only responsibility for paying my tax . I really need the step by step process of paying tax online/offline .
Can anyone please correct or fill the info in the below steps ? I have highlightened the lines that I have doubts or I don't know that info or needed info is missing and also please correct me if I am wrong .
STEPS TO PAY INCOME TAX IN INDIA FOR SELF EMPLOYED PERSONS .
Step 1 : Calacution of Income tax:
https://law.incometaxindia.gov.in/DIT/Xtras/taxcalc.aspx
Step 2 : Detuction of Money from the Total money earned under rules 80C : ( Upto 1 lakh )
After investing amounts in LIC/FD/..etc , subtract 1 lakh from the total money earned in that financial year ( In my case it is Financial year 2011-2012 or Assessment year 2012-2013) and calculate the Income tax for the remaing money to be taxed .
https://law.incometaxindia.gov.in/DIT/Xtras/taxcalc.aspx
Step 3: Pay tax via online/offine:
ONLINE:
* Go to https://onlineservices.tin.nsdl.com/etaxnew/tdsnontds.jsp and select CHALLAN NO./ITNS 280
( In my case as self employed person ) ( IS THIS CORRECT.. ? )
* Then Slect Advance tax and pay the required tax online .
*What is the difference between advance tax and self assessment tax ?
OFFLINE :
( Don't know ) . Can anyone guide me please ?
Step 4 ; Filling Income tax return :
Go to https://incometaxindiaefiling.gov.in
* In IT return , I don't know what form I need to fill , since I am an self employed person . Can anyone tell me ?
* How to get a digital signature ? Please guide me .
* what is the due date for Filing IT return for Financial Year 2011-2012 ?
* What is the due date for Paying INCOME TAX for financial year 2011-2012 and what if I don't pay tax within that period ?
Thanks in advance for the answer and Thanks for reading :-)
- Roger Anand .
CAclubindia
