Wednesday, July 25, 2012

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


on Wednesday, July 25, 2012

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.

16 comments: Post Yours! Read Comment Policy ▼
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  1. Why should we put Assessment Year as 2012-13 when we are paying tax for the financial year as 2011-12.

    ReplyDelete
    Replies
    1. Tax of financial year is assessed in next financing year which is called assessment year .This is rule and it is meant to be followed no choice to you.

      Delete
  2. Hi,Since I have other source of income also(interest on fd) apart from salary. Bank has already deducted tax, but when I calculated the tax, there is a difference between what (bank+company) has already deposited and actual tax to be paid. I Know before filing the return I have to pay that balance tax using challan 280. But during payment, I am not sure which option should I choose out of 8 that you have mentioned above. Please reply

    ReplyDelete
    Replies
    1. First you should assess whether any interest is due on late payment of tax through filing the details in ITR form. If interest is nil then you have to fill full pending amount in row -1 i.e tax ,however if interest is due then you should bifurcate amount in tds and interest row respectively.

      Delete
  3. Hi..I need to pay self assessment tax using challan 280.I have to pay tax for both (salary+bank) interest since the cumulative TDS deducted by both are less than that reflected while filing online. I have zero under the interest 234A/B/C section. Please let me know which all fields are necessary out of the 7 sections for AY2013-2014.

    ReplyDelete
    Replies
    1. Select code 21 ,code 300, ay 2013-14, complete amount in Tax column at bank site as per sr number 10 above

      Delete
  4. i need to pay self assesment tax ..i wish to do it online. my present address is different form that of pan address.In online which address i hv to type ...rply me

    ReplyDelete
    Replies
    1. address is not important , you can fill present address

      Delete
  5. Sir,
    I submitted the returns before paying the tax online. How can I rectify this mistake? Can I pay the tax online irrespective of this and while sending the hard copy, mentioning the CIN is enough? Please help.

    ReplyDelete
    Replies
    1. If you have filed the return online than your return will be treated defective and 15 days time will be allowaed to you make necessary correction .

      The second option is to revise your return after deposit of balance tax amount

      Delete
    2. What are the steps to do the second option? Please suggest.

      Delete
    3. Deposit you pending tax as shown above (change ay to 2013-14)
      fill tax details of new challan in revised return
      select revised return option in return and select section 139(5) and fill itr-V number of earlier return uploaded .

      Your revised return ready , upload it ,generate new itr-V and send to cpc

      Delete
  6. i had paid advance tax at night by chalan 280. deduction well be done after opening of bank next day . how i will get receipt of payment?

    ReplyDelete
    Replies
    1. if you are paying tax for ay 13-14 then self assessment code should be selected not advance tax ,if you have selected advance tax then you have selected ay 14-15 please check challan

      Delete
  7. Hi Experts,

    I have received 2 lac rupees as a accidental death claim (from High court decision and the amount is paid by insurance company). As my advocate didn't have my PAN number so 10% tax of the amount 2 lac(i.e.20,000) had already been deducted and I had received 1.8 lac rupees. When I had collected the form 16-A from the insurance company, it doesn't have PAN number mentioned and nature of payment mentioned in form 16-a was "T.P. 9 MTEREST" and because of that the same amount didn't reflect in my form 26AS. Now I have requested to revise the return so that the deducted tax can be reflected in form 26 AS and I can claim for the tax deducted.

    Now I have 2 queries here
    1) is the amount received as a accidental death claim is tax free ?? or we have to pay tax for the same.

    2) The tax which was deducted and deposited by insurance company will fall under advance tax/ self assessment category or Income other than salary.

    Please help .

    Thanks in advance !!

    ReplyDelete
    Replies
    1. 1)Personal accidental death claim is not taxable in hand of nominee.
      2) Yes, it will treated as advance tax and if you have already deposited your tax then you can claim refund

      Delete