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Submit Balance Income Tax before 31st March

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  • February 18, 2014 at 11:57 am #69468
    Anonymous
    Inactive

    Dear friends,
    While submitting Income Tax Declaration for the financial year 2013-14 to my office, there was a mistake in calculating balance income taxes to be paid during the month of january and february, 2014. it was a calculation mistake which was overlooked by the office staff. subsequently salary of february bill has recently been drawn. now the mistake came to the front for which i am liable to pay a further income tax of Rs. 310. Office is asking me to submit the said amount to SBI and Form 16 would be issued after showing the bank receipt only. Now, I am little confused whether I have to take this pain to submit the amount to SBI. Can it be paid online? Can it be paid during Return submission? Your valued opinion is solicited.
    Regards
    Asif

    February 19, 2014 at 6:42 am #79230
    Anonymous
    Inactive

    1) Can be paid online if you have net banking account
    2) Cannot be paid at the time of return submission.
    3) Pay before 31st March to avoid complications.
    4) Can be paid in SBI also .

    February 19, 2014 at 7:22 am #79231
    Anonymous
    Inactive

    @ Nabonita: thanks for your reply.
    In this connection I would like to inform you that I have visited SBI branch at Dalhousie Square Branch, B.B.D. Bagh, Kolkata. They told me to submit the amount through Challan 280 which is available online. I searched for the same and came to know that income tax can be paid online also through e-Tax Payment System. I have SBI net banking facility, so I tried to submit the same online. But, unfortunately, the portal gives me a warning: “Assessment Year can not be greater than the current financial year for the type of payment selected by you.“. I had selected AY 2014-15 and type of payment as “Self Assessment Tax”. Do you have any idea how to overcome the issue? Does it indicates that I can submit the amount only after 31st March?
    Regards
    Asif

    February 20, 2014 at 5:42 am #79236
    Anonymous
    Inactive

    Choose Advance tax instead of Self-assessment tax.
    Advance Tax is the tax paid in the Financial year preceeding the Assessment year( i.e within 31st march) on basis of self computation.
    Self Assessment tax is the tax paid after the completion of Financial year, i.e after 31st March (during the assessment year)
    So , in Type of Payment,choose ‘(100) Advance Tax’ instead of ‘(300)Self Assessment Tax.
    You may pay after 31st March( i.e self assessment tax. But I have mentioned earlier that in order to avoid some complications ,pay it within 31st March.
    That means if you may a considerable amount of tax after 31st March,IT department may claim interest/penalty for delay.(I have used the word ‘may’, since they generate notices randomly,and you may be lucky enough to avoid it)

    February 24, 2014 at 5:45 am #79252
    Anonymous
    Inactive

    Choose Advance tax instead of Self-assessment tax.

    Thanks. I just paid the balance amount online through SBI net banking.

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