Self-Assessment Tax – E-Payment
Self-Assessment tax is the tax that the assessee pays on the basis of the income that has been assessed after accounting for tax deducted at source and advance tax. Self-assessment tax is paid in the assessment year itself by submitting Challan 280 before filing income tax returns. The E-payment facility allows online payment of self-assessment tax. The taxpayer must have net-banking facility activated in his bank account in order to make the payment online. Further, he or she must possess a valid Permanent Account Number (PAN) as well as a valid Tax Deduction and Collection Account number. In this article, we will go ahead and describe the procedure for online remittance of self-assessment tax.
Computation of Self-Assessment
Total taxable income
(Add) Interest as per section 234A / 234B / 234C (In case of delayed filing of returns or remittance of advance tax)
(Less) Relief under Section 90/90A/91
(Less) MAT Credit under Section 115JAA
(Less) TDS/TCS
(Less) Advance Tax
Total Self-Assessment Tax to be paid = A+B+C-D-E-F
Online Payment of Self-Assessment Tax
Step: 1 – Visit URL
The taxpayer must navigate to https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp and must choose the challan number (ITNS 280)
Step: 2 – Tax Applicable Screen
The taxpayer must choose the Tax Applicable (0021) Income-Tax (Other Than Companies) and enter the following information
- PAN and address details.
- Assessment Year details
- (300) Self-Assessment Tax details
- The bank from which the payment is to be remitted.
- Enter the Captcha code
After filling in the necessary details on this form, the taxpayer should click on the Proceed option.
Step: 3 – Confirmation Screen
The taxpayer will be directed to the confirmation screen which will display the details entered in the form on the previous page. These details will be in the form of a summary.
The Taxpayer must then choose the option “Submit to the bank” in order to verify the details entered.
Step: 4 – Payment Mode Selection
The taxpayer will be required to choose the payment mode, as mentioned below. He can choose the option that suits his or her convenience.
Step: 5 – Payment Confirmation
The next screen will prompt the taxpayer to enter the exact payment in the fields, as shown in the screenshot below.
Step: 6 – Confirmation of Payment
The next screen confirms the exact amount and prompts the taxpayer to confirm the same. The taxpayer must choose the option “Proceed for Payment” to go to the next step.
Step: 7 – Confirmation of Payment
Once logged in, the taxpayer must enter the exact tax amount to be remitted and choose the mode of payment. This will redirect the taxpayer to a payment gateway. Once the taxpayer enters his or her bank credentials, the payment will be processed. He or she must make sure not to refresh the page until the payment has been fully processed.
Step: 8 – Payment Confirmation
After the payment has been processed, the taxpayer will receive an acknowledgement with details such as CIN, payment details, and name of bank through which e-payment has been made. This challan must be stored safely for future reference. The process of e-payment is complete.
Self-Assessment tax is the tax that the assessee pays on the basis of the income that has been assessed after accounting for tax deducted at source and advance tax. Self-assessment tax is paid in the assessment year itself by submitting Challan 280 before filing income tax returns. The E-payment facility allows online payment of self-assessment tax. The taxpayer must have net-banking facility activated in his bank account in order to make the payment online. Further, he or she must possess a valid Permanent Account Number (PAN) as well as a valid Tax Deduction and Collection Account number. In this article, we will go ahead and describe the procedure for online remittance of self-assessment tax.
Computation of Self-Assessment
Total taxable income
(Add) Interest as per section 234A / 234B / 234C (In case of delayed filing of returns or remittance of advance tax)
(Less) Relief under Section 90/90A/91
(Less) MAT Credit under Section 115JAA
(Less) TDS/TCS
(Less) Advance Tax
Total Self-Assessment Tax to be paid = A+B+C-D-E-F
Online Payment of Self-Assessment Tax
Step: 1 – Visit URL
The taxpayer must navigate to https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp and must choose the challan number (ITNS 280)
Step: 2 – Tax Applicable Screen
The taxpayer must choose the Tax Applicable (0021) Income-Tax (Other Than Companies) and enter the following information
- PAN and address details.
- Assessment Year details
- (300) Self-Assessment Tax details
- The bank from which the payment is to be remitted.
- Enter the Captcha code
After filling in the necessary details on this form, the taxpayer should click on the Proceed option.
Step: 3 – Confirmation Screen
The taxpayer will be directed to the confirmation screen which will display the details entered in the form on the previous page. These details will be in the form of a summary.
The Taxpayer must then choose the option “Submit to the bank” in order to verify the details entered.
Step: 4 – Payment Mode Selection
The taxpayer will be required to choose the payment mode, as mentioned below. He can choose the option that suits his or her convenience.
Step: 5 – Payment Confirmation
The next screen will prompt the taxpayer to enter the exact payment in the fields, as shown in the screenshot below.
Step: 6 – Confirmation of Payment
The next screen confirms the exact amount and prompts the taxpayer to confirm the same. The taxpayer must choose the option “Proceed for Payment” to go to the next step.
Step: 7 – Confirmation of Payment
Once logged in, the taxpayer must enter the exact tax amount to be remitted and choose the mode of payment. This will redirect the taxpayer to a payment gateway. Once the taxpayer enters his or her bank credentials, the payment will be processed. He or she must make sure not to refresh the page until the payment has been fully processed.
Step: 8 – Payment Confirmation
After the payment has been processed, the taxpayer will receive an acknowledgement with details such as CIN, payment details, and name of bank through which e-payment has been made. This challan must be stored safely for future reference. The process of e-payment is complete.
