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CA Intermediate · Taxation · Provisions for filing Return of Income and Self Assessment

Kavita, a resident individual, has a total tax liability of ₹1,85,000 (including cess) for tax year 2026-27. TDS of ₹60,000, TCS of ₹5,000 and advance tax of ₹70,000 were paid. Interest for default in payment of advance tax is computed at ₹6,000. How much must she pay as self-assessment tax (including that interest) before filing her return?

She must pay ₹56,000. Tax of ₹1,85,000 is reduced by TDS ₹60,000, TCS ₹5,000 and advance tax ₹70,000 to give ₹50,000 balance tax, and the ₹6,000 interest for advance tax default is added because it is also payable before filing.

  1. A₹56,000Correct
  2. B₹50,000
  3. C₹1,26,000
  4. D₹44,000

Explanation

Tax liability ₹1,85,000 less TDS ₹60,000, TCS ₹5,000 and advance tax ₹70,000 leaves ₹50,000. Adding interest of ₹6,000 gives ₹56,000. ₹50,000 omits the interest; ₹1,26,000 ignores the advance tax; ₹44,000 wrongly subtracts the interest.

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