Self-assessment tax obligation before filing; payments meet interest first and count towards later assessments. Self-assessment tax must be paid before filing the return and comprises tax payable on the return reduced by amounts already paid, tax deducted or collected at source, claimed reliefs and tax credits, together with interest payable. Payments are first adjusted against interest and then against tax; amounts paid under self-assessment are deemed paid towards any later assessment. Non-payment of any part of the self-assessment tax or interest results in the assessee being treated as an assessee in default, subject to the Code's provisions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Self-assessment tax obligation before filing; payments meet interest first and count towards later assessments.
Self-assessment tax must be paid before filing the return and comprises tax payable on the return reduced by amounts already paid, tax deducted or collected at source, claimed reliefs and tax credits, together with interest payable. Payments are first adjusted against interest and then against tax; amounts paid under self-assessment are deemed paid towards any later assessment. Non-payment of any part of the self-assessment tax or interest results in the assessee being treated as an assessee in default, subject to the Code's provisions.
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