What is Self Assessment Tax (SAT)?

What is Self Assessment Tax (SAT)?

Self-assessment tax is the added tax liability of an assessee on his income after accounting for TDS and advance tax. This should be calculated before filing returns at the financial year end. You cannot submit your returns to the IT Department till you have paid SAT. At the end of the year, any outstanding tax must be calculated before filing the ITR. Simply put, Self-Assessment Tax is the balance tax that an assessee pays on the income that has been assessed, only after taking the TDS and advance tax into consideration before filing the returns.



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