How to Calculate Self Assessment Tax under Income Tax Act

The provisions are given below-

An assessee is required to submit his return of income under section 139 or 142 or 148 or 153A or 158 BC.
Before submitting the aforesaid return, he is supposed to find it whether any tax and / or interest is payable. For this purpose tax and / or interest shall be calculated as follows:

Find out income tax, surcharge and education cess per return of income

Add: Interest –

Under section 234A for late submissions of return of income/ fringe benefits

Under section 234C for non-payment of different installments of advance tax

Total tax and Interest

Less: advance tax, tax deducted at the source, tax collected at source, MAT credit and relief under section 90/90A/91

Self assessment tax payable under section 140A

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