How to Read Tax Paid Challan (280)

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• Advance/Self Assessment Tax

  Advance tax - It is the Tax amount paid by you on or before the 31st of March,19. Self assessment tax - It is the tax amount paid by you after 31st march,2019 and before filing income tax return.  For Advance/Self Assessment Tax you will have to ...

• I have paid property tax for the past years in this year. Can I claim deduction for entire amount of property tax paid?

  Yes. You can claim deduction for entire amount of property tax paid. The deduction on account of property tax is on a payment basis and not on the basis of charging year of such property tax.

• How to Pay Self Assessment Tax online

  Steps to Pay Self Assessment Tax Online Step 1: Visit the NSDL website: https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp Step 2: For Self Assessment Tax payment, click on proceed button of Challan No: 280 as highlighted in red Step 3: ...

• What is Tax-Free Salary? In case of Tax-Free Salary, is the amount of income tax paid by the employer required to be included in the taxable income from Salary?

  When the employer agrees to pay tax on the Salary paid to the employee without applying any cap on the amount of tax to be paid, it can be said to be a Tax-Free Salary. However, this tax-free salary is also taxable in the hands of the employee. The ...

• What is Advance Tax?

  Advance tax is income tax paid in advance instead of lump sum payment at year end. The purpose is to collect tax as income is generated, and hence is popularly known as ‘pay as you earn’ tax. The I-T Dept. provides the due dates before which you need ...