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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