Self-assessment u/s 140A. - Income Tax - 427/CBDT

INSTRUCTION NO. 427/CBDT Dated: June 26, 1972 Section(s) Referred: 140A Statute: Income - Tax Act, 1961 The above subject was discussed in the recent Commissioners' Conference, and Minutes of the discussion are being sent to you separately. According to the present practice for payment of tax u/s 140A (on self-assessment) the assessees obtain the necessary challans from the concerned ITOs. To provide further assistance in this regard, the Board desire that within the existing framework of law and availability of staff and facilities tax-payer assistance may be extended in the form of counter where staff may be available calculation of tax on returned income, for the self-assessment tax thus calculated challans may be issued at these counters and payments by cheques received and dealt with according to prescribed procedure. The Board also desire that a challan form for the payment of self-assessment tax may be placed in the cover along with the return form sent to the assessees by post or through Notice Server; where the return form is handed over across the counter, a challan form may be given along with it. This will help assessees in utilising the challan form for paying their self-assessment tax. 2. The Board's attention was further drawn to the problem where an assessee disputes a part of the regular demand raised on assessment and he is therefore unable to utilise the challan received with the demand notice for the full amount of tax. For meeting this situation, the assessees should be furnished challans indicating the ward or circle assessment the assessee's permanent account number and the demand and collection register number of the relevant demand raised for the rest it may be left to the assessee to fill in the particulars and indicate the amount, he proposes to pay. This procedure may be followed as soon as the existing challan forms are suitably revised, for which D.I. (R.S. P.) is being addressed. 3. The Board desire that the banks and treasuries in Commissioners' charge should be asked to accept incomplete challans for payment because such incomplete counterfoils received in I.T. Offices make proper posting of collection difficult.