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Self-assessment

System under which the taxpayer is required to declare the basis of his assessment (e.g. taxable income), to submit a calculation of the tax due and, usually, to accompany his calculation with payment of the amount he regards as due. The role of tax authorities is to check (perhaps in random cases) that the taxpayer has correctly disclosed his income.

News On Self assessment
Why salaried people can't deal with tax payouts on their earnings

15-11-2017| Source:Moneycontrol.com

Here are the reasons why you may be required to pay tax which is called self assessment tax at the time of filing the ITR.

CAIT suggests that GSTR-3B form can be filed on monthly basis

05-11-2017| Source:PTI

"It is suggested that the Centre can ask traders, whose turnover is up to Rs 100 crore annually to file form GSTR3B on a monthly basis. They should be asked to pay tax monthly on a self-assessment

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