Wednesday, 25 July 2012

HOW TO DEPOSIT SELF ASSESSMENT TAX CHALLAN 280 ONLINE FOR AY 2012-13



Income Tax return due date for non audit    cases  in respect of assessment year 2012-13 is 31.07.2012 . In many cases Individual has not deposited full tax or tds has been short deducted  means there is balance tax liability due to interest u/s 234B, 234C or due to other reason. The balance tax must be deposited before return filing . The balance tax to be paid is also called self assessment tax .To deposit this we have two method one is online and other is offline .In both case to deposit balance tax we have to use challan ITNS-280.We have described the Both methods in details. 

How to deposit self assessment tax for Fy 2011-12 assessment year 2012-13.

1. To pay Self assessment challan taxes online the taxpayer shall  select the  challan i.e. ITNS 280, 
Go to Online tax  payment site. following screen will be shown ,click omCHALLAN NO./ITNS 280 (payment of Income tax & Corporation Tax)


2. New Screen as under will be shown .Fill this screen as illustrated in coming points.

3. Select Code (0021) Income Tax other than Companies.

Note :This guide is for non-corporate assessee. If you are a company/corporate assessee (your pan forth digit is "P") then select code number 20.

4.. There will be an online check on the validity of the PAN entered. 
  •  Enter your  PAN
  • Select your assessment year 2012-13(for balance tax to be deposited for Financial year 2011-12)

5. If PAN is valid the taxpayer will be allowed to fill up other challan details like accounting head etc.

6.Fill Flat door, village,Building , road ,lane,area locality ,City/District, State, PIN code, Mobile email address etc. However only read entries are mandatory. You can fill your current data ,it is not mandatory to fill all data as per pan records only.

7 Select Type of payment :for balance tax payment for Fy 2011-12 you have to select code 300 self assessment tax.
8.Select Your bank from the list and fill code shown in your screen .Please note that debit card and credit card are not accepted and Tax can be paid from your friend ,relative,CA, tax consultants account also.

9 Click submit .On submission of data entered a confirmation screen will be displayed. If the taxpayer confirms the data entered in the challan, it will be directed to the net-banking site of the bank.Or click edit if data is not correct.

10. The taxpayer will login to the net-banking site with the user id/ password provided by the bank for net-banking purpose and enter payment details at the bank site as under.

  1. Tax (basic tax) =Fill basic tax value Except education cess.Or total amount can also be filled but do not include interest .For interest separate column is available . (sr no-5)
  2. Surcharge :(Not applicable) this is not applicable in current year.
  3. Penalty : (Not applicable )is applicable only if assessment order is passed.not applicable in self assessment tax.
  4. Education cess.:fill value if not included in 1 above.
  5. Interest :fill interest for late payment of advance tax and self assessment tax 234B,234C or any other interest .Do not include interest in tax sr no one. 
  6. Other: (Not applicable) if any fees etc is payable.
  7. Penalty : (Not applicable) This is also not applicable.. 
  8. Total :(auto) to be shown by bank site on confirmation automatically 

11. On successful payment a challan counterfoil will be displayed containing CIN, payment details and bank name through which e-payment has been made. This counterfoil is proof of payment being made.This details is to be filled in Income tax return  at Sr number 25 of ITR-1(sheet /Tab TDS)

Go to Online tax  payment site


offline mode 

If you wish to deposit tax offline then visit your nearest bank branch where Tax is accepted and fill Challan 280 manually and given them , pay either by cheque or cash collect challan receipt .Please ensure that CIN is printed /written on challan receipt. .CIN consist of three things

  1.  Bsr code of branch (7 digit), 
  2. date of deposit and
  3.  challan sr number (5 digit) 
Download Challan for Offline deposit from here.

    8 comments:

    1. Self Assessment Tax Returns expertise – Every tax payer, be it a sole trader, partnership, company director, high net worth individual, higher rate tax payer, rental property landlords, retired pensioners, CIS tax payers, is likely to be required by Her Majesty’s Revenue and Custom (HMRC) for the filing a return under Self Assessment tax returns system.
      Late payment of Self Assessment tax or the late filing of Self Assessment tax returns attracts fines and penalties from the HMRC.

      ReplyDelete
    2. Self Assessment Tax Returns expertise – Every tax payer, be it individual sole trader, partnership, company director, high net worth individual, higher rate tax payer, rental property landlords, retired pensioners, CIS tax payers, is likely to be on the Her Majesty Revenue and Custom (HMRC) Self Assessment tax returns system.
      Late filing and payment of Self Assessment tax and Self Assessment tax returns attracts fines and penalties from the HMRC.

      ReplyDelete
    3. Completing Self Assessment tax returns can present a challenge for most tax payers. We understand the stress of filing deadlines and late penalty fines, it causes with most tax payers.
      We appreciate that Self Assessment Tax Returns may be daunting for many tax payers but we take care of any intricacies and complications for you.

      ReplyDelete
    4. Self Assessment Tax Returns can present a challenge for most tax payers. We understand the stress of filing deadlines and late penalty fines, it causes with most tax payers. We appreciate that self assessment tax returns may be daunting for many tax payers but we take care of any intricacies and complications for you.

      ReplyDelete
    5. As your accountants and tax advisers V P Associates complete your Self Assessment tax returns for your approval to meet the HMRC strict deadlines and to enable you to pay your self assessment tax by the due deadline.

      ReplyDelete
    6. This comment has been removed by the author.

      ReplyDelete
    7. There are several reasons for the HMRC to require an individuals to file self assessment tax returns. The final onus is still with the tax payer to register for filing of self assessment tax return. There are strict deadlines for registering for self assessment tax returns.

      ReplyDelete
    8. While there are several reasons for the HMRC to require an individuals to file Self Assessment Tax Returns, the final responsibility is still with the tax payer to register for the filing of self assessment tax return. There are also strict deadlines for registering for self assessment tax returns.

      ReplyDelete