Key Points to fill different IT Challan (281 to 287) Income Tax Act, 1961

 


Challan-280 (Normal Taxpayer Challan)

u  Step-1(Tax Applicable)

       i)          (0020) INCOME-TAX ON COMPANIES (CORPORATION TAX)

      ii)          0021) INCOME TAX (OTHER THAN COMPANIES)

u  Step-2(Type of Payment)

       i)          Advance Tax (100)

      ii)          Surtax (102)

    iii)          Self-Assessment Tax (300)

    iv)          Tax on Distributed Profits of Domestic Companies (106)

      v)          Tax on Regular Assessment (400)

    vi)          Tax on Distributed Income to Unit Holders (107)

 

Challan-281(TDS & TCS Challan)

u  Step-1(Tax Applicable)

TAX DEDUCTED/COLLECTED AT SOURCE FROM

       i)          (0020) COMPANY DEDUCTEES

      ii)          (0021) NON-COMPANY DEDUCTEES

u  Step-2(Type of Payment)

       i)          TDS/TCS Payable by Taxpayer (200)

      ii)          TDS/TCS Regular Assessment (Raised by I.T. Deptt.) (400)


Challan-282 (Specified Challan)

u  Step-1(Tax Applicable)

       i)          (0034) SECURITIES TRANSACTION TAX

      ii)          (0023) HOTEL RECEIPTS TAX

    iii)          (0031) ESTATE DUTY

    iv)           (0024) INTEREST TAX

      v)          (0032) WEALTH TAX

    vi)          (0028) EXPENDITURE/OTHER TAX

   vii)          (0033) GIFT TAX

u  Step-2(Type of Payment)

       i)          Advance Tax (100)

      ii)          Self-Assessment Tax (300)

    iii)          Tax on Regular Assessment (400)


Challan-283 (Banking & FBT Challan)

u  Step-1(Tax Applicable)

       i)          (0036) BANKING CASH TRANSACTION TAX

      ii)          (0026) FRINGE BENEFITS TAX

u  Step-2(Type of Payment)

       i)          Advance Tax (100)

      ii)          Self-Assessment Tax (300)

    iii)          Tax on Regular Assessment (400)

 

Challan-284 (Undisclosed foreign income and assets challan)

u  Step-1(Tax Applicable)

       i)          (0020) INCOME-TAX ON COMPANIES (CORPORATION TAX)

      ii)          0021) INCOME TAX (OTHER THAN COMPANIES)

u  Step-2(Type of Payment)

       i)          Tax under the Undisclosed foreign income and assets and Imposition of Tax ACT, 2015[For Companies (0020) ] (109)

      ii)          Tax under the Undisclosed foreign income and assets and Imposition of Tax ACT, 2015 [For Other than Companies (0021)] (108)

 

Challan-285 (Equalisation levy challan)

u  Step-1(Tax Applicable)

       i)          OTHER TAXES AND DUTIES ON COMMODITIES AND SERVICES (0045)

      ii)          EQUALISATION LEVY (119)

u  Step-2(Type of Payment)

       i)          Equalization levy Payable by Taxpayer(deductor)

      ii)          Equalization levy payable as per processing (demand raised by I.T.Deptt.)

    iii)          Miscellaneous

 

Challan-286 (Income declaration scheme,2016 challan)

u  Step-1(Tax Applicable)

       i)          OTHER TAXES ON INCOME AND EXPENDITURE (0028)

      ii)          PAYMENT UNDER INCOME DECLARATION SCHEME, 2016 (111)

u  Step-2(Type of Payment)

       i)          Payment made by Company

      ii)          Payment made by person other than Company

 

Challan-287 (Taxation and investment regime for Pradhan Mantri Garib Kalyan yojana, 2016 (PMGKY) 

u  Step-1(Tax Applicable)

       i)          OTHER TAXES ON INCOME AND EXPENDITURE (0028)

      ii)          PAYMENT UNDER PMGKY ( 112 )

u  Step-2(Type of Payment)

       i)          Payment made by Company

      ii)          Payment made by person other than Company


Regards

CA Arun Kumar Mohanty

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