Itns 280

Tax queries 798 views 1 replies

GD

55 Points Joined January 2012

Hello,

I have some tax balance still payable to IT dept as TDS deducted from salary was not enough. While filling up challan 280, I am using the code 400 for Tax on Regular Asessment.

Under the head Income Tax, can someone please confirm that it is correct to enter value = Balance Tax only = (Total Tax Liability - TDS)?

Thanks,

Gayatri

Replies (1)

CA Tousif Ahmed

Proprietor

175 Points Joined August 2011

Hi Gayatri,

If your tax liability is more than the tds deducted from salary then you can pay balance tax under challan No.280 under the head Self Assessment Tax (300)

Balance Tax Liability = total tax liability - TDS + Interest u/s 234(If applicable)