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What is meant by self assessment tax?

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Self Assessment is a system HM Revenue and Customs ( HMRC ) uses to collect Income Tax. Tax is usually deducted automatically from wages, pensions and savings. People and businesses with other income must report it in a tax return.Jan 26, 2017 read more

Source: gov.uk

Self assessment tax is the tax paid by the assessee after the end of that previous year. If you pay the tax relating to 2008-09 in april 2009, then u pay it as Self assessment tax - in simple words, tax as per your assessment. read more

Self Assessment tax means any balance tax paid by the assessee on the assessed income after taking TDS and Advance tax into account before filing the Return of income. SAT or self-assessment tax is paid for a particular financial year end. There is no specification on the date of payment of this tax. read more

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