Should i pay tax liability before or after sending acknowledgement?

Should i pay tax liability before or after sending acknowledgement?



Project - #makeknowledgefree

By - Amlan Dutta







Case AQ - Should i pay tax liability before or after sending acknowledgement ?

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Hi everyone, i have one query regarding ITR my employer has deducted tds and still some tax is payable now i want to fill my ITR ...but i am confused that first ITR should be filled or remaining tax has to be paid ...and do let me know how to pay remaining tax..





Solution - By Amlan Dutta







This is a very common doubt and most people end up doing error ...clearly you are required to not only first pay tax using challan 280 , but also you are required to take credit of such taxes in the return itself in schedule IT ..when you do this , you will observe that tax payable liability is nil.....it is only then that you are supposed to upload the return .



Let me give a example ...my total income is 10 lakhs FD interest ..bank deducts 1 lakh TDS ...now taxable liability 1.3 lakhs ...i first now pay 30,000 using challan 280 and then take credit of both TDS of 1 lakh and paid self assessment of 30000 Rs so that sum total of tax credit (tax credit on account of available TDS credit (here -non salary ) TDS of 1 lakh and paid self assessment tax of 30000 rs ) equals my total tax liability as per slabs .





Many people pay the self assessment tax and then forget to take credit ...many pay tax and then wonder where to show it in TDS schedule

Is what you paid any tax deduction at source .You only paid when you realised that the tax deduction at income source is not sufficient to meet tax liability

So what you paid now is income tax ( which is called self assessment when paid after year ends and advance if paid before years ends in advance )

So clearly then , you will take credit of such paid taxes in Schedule IT (income tax ) and not TDS schedule for the simple reason that it is not TDS ,



After taking credit of all the tax tax credit for TDS and paid taxes and making tax liability nil and only now  when the return shows nil tax . liability, am i  supposed to upload my return ...Note if i upload return without paying 30000 or without taking credit of it in return , it is a defective return and i shall get a defective notice and shall be requested to cure it later on .



If one does this mistake and realizes it before receipt of a defective notice , one can always revise it under section 139(5)



However , if one does this mistake and then receives a defective notice , then one has no option but to cure it using section 139(9) filing for response to defective notice ...he can't file a revised return post receipt of a defective notice

If return is not cured within time period allowed for curing defective return , then fresh belated return under section 139(4) has to be filed !







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