Section 140A:
Self-assessment.
1,2
(1) Where any tax is payable on the basis of any return required to be
furnished under 34
section 115WD or section 115WH or section 139 or section 142 5
or section 148 or
6
section 153A or, as the case may be, section 158BC, 7
after taking into account,—
(i) the amount of tax, if any, already paid under any provision of this Act;
(ii) any tax deducted or collected at source;
(iii) any relief of tax or deduction of tax claimed under section 90 or section 91 on account of tax
paid in a country outside India;
(iv) any relief of tax claimed under section 90A on account of tax paid in any specified territory
outside India referred to in that section; and
(v) any tax credit claimed to be set off in accordance with the provisions of section
115JAA 8
or section 115JD,
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the assessee shall be liable to pay such tax, together with interest 10and fee payable under any
provision of this Act for any delay in furnishing the return or any default or delay in payment of advance
tax, before furnishing the return and the return shall be accompanied by proof of payment of such tax
11interestand fee.
12Explanation.—Where the amount paid by the assessee under this sub-section falls short of the
aggregate of the tax 13interestand fee as aforesaid, the amount so paid shall first be adjusted towards the
fee payable and thereafter towards the interest payable as aforesaid and the balance, if any, shall be
adjusted towards the tax payable.
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15(1A) For the purposes of sub-section (1), interest payable,—
16(i) under section 234A shall be computed on the amount of the tax on the total income as
declared in the return as reduced by the amount of,—
(a) advance tax, if any, paid;
(b) any tax deducted or collected at source;
(c) any relief of tax or deduction of tax claimed under section 90 or section 91 on account of
tax paid in a country outside India;
(d) any relief of tax claimed under section 90A on account of tax paid in any specified
territory outside India referred to in that section; and
(e) any tax credit claimed to be set off in accordance with the provisions of
section 115JAA 17
or section 115JD;
(ii) under section 115WK shall be computed on the amount of tax on the value of the fringe
benefits as declared in the return as reduced by the advance tax, paid, if any.
(1B) For the purposes of sub-section (1), interest payable under section 234B shall be computed on an
amount equal to the assessed tax or, as the case may be, on the amount by which the advance tax paid
falls short of the assessed tax.
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Explanation.—For the purposes of this sub-section, “assessed tax” means the tax on the total
income as declared in the return as reduced by the amount of,—
(i) tax deducted or collected at source, in accordance with the provisions of Chapter XVII, on any
income which is subject to such deduction or collection and which is taken into account in computing
such total income;
(ii) any relief of tax or deduction of tax claimed under section 90 or section 91 on account of tax
paid in a country outside India;
(iii) any relief of tax claimed under section 90A on account of tax paid in any specified territory
outside India referred to in that section; and
(iv) any tax credit claimed to be set off in accordance with the provisions of section
115JAA 17
or section 115JD.
(2) After a regular assessment under 19
section 115WE or section 115WF or section 143 or
section 144 20
or 21
an assessment under section 153A or section 158BC has been made, any amount paid
under sub-section (1) shall be deemed to have been paid towards such regular assessment 20
or assessment,
as the case may be.
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(3) If any assessee fails to pay the whole or any part of such tax or interest or both in accordance
with the provisions of sub-section (1), he shall, without prejudice to any other consequences which he
may incur, be deemed to be an assessee in default in respect of the tax or interest or both remaining
unpaid, and all the provisions of this Act shall apply accordingly.
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(4) The provisions of this section as they stood immediately before their amendment by the Direct
Tax Laws (Amendment) Act, 1987 (4 of 1988), shall apply to and in relation to any assessment for the
assessment year commencing on the 1st day of April, 1988, or any earlier assessment year and references
in this section to the other provisions of this Act shall be construed as references to those provisions as for
the time being in force and applicable to the relevant assessment year.
Notes:
1. Subs. by Act 42 of 1970, s. 27, for section 140A (w.e.f. 1-4-1971). Earlier section 140A was inserted by Act 5 of 1964,
s. 34 (w.e.f. 1-4-1964).
2. Subs. by Act 41 of 1975, s. 41, for sub-section (1) (w.e.f. 1-4-1976).
3. Subs. by Act 49 of 1991, s. 45, for “section 139 or section 148” (w.e.f. 27-9-1991).
4. Subs. by Act 18 of 2005, s. 43, for “section 139” (w.e.f. 1-4-2006).
5. Subs. by Act 27 of 1999, s. 63, for “or, as the case may be, section 148” (w.e.f. 1-6-1999).
6. Subs. by Act 32 of 2003, s. 63, for “as the case may be, section 158BC” (w.e.f. 1-6-2003).
7. Subs. by Act 21 of 2006, s. 34, for “after taking into account the amount of tax, if any, already paid under any provision
of this Act” (w.e.f. 1-4-2007).
8. Ins. by Act 23 of 2012, s. 60 (w.e.f. 1-4-2013).
9. Subs. by Act 4 of 1988, s. 45, for “the assessee shall be liable to pay such tax before furnishing the return and the return
shall be accompanied by proof of payment of such tax” (w.e.f. 1-4-1989).
10. Ins. by Act 7 of 2017, s. 57 (w.e.f. 1-4-2018).
11. Subs. by Act 7 of 2017, s. 57, for “and interest” (w.e.f. 1-4-2018).
12. Ins. by Act 4 of 1988, s. 45 (w.e.f. 1-4-1989).
13. Subs. by Act 7 of 2017, s. 57, for “and interest as aforesaid, the amount so paid shall first be adjusted
towards” (w.e.f. 1-4-2018).
14. Ins. by Act 14 of 2001, s. 61 (w.r.e.f. 1-4-1989).
15. Subs. by Act 18 of 2005, s. 43, for sub-section (1A) (w.e.f. 1-4-2006).
16. Subs. by Act 21 of 2006, s. 34, for clause (i) (w.e.f. 1-4-2007).
17. Ins. by Act 23 of 2012, s. 60 (w.e.f. 1-4-2013).
18. Subs. by Act 21 of 2006, s. 34, for the Explanation (w.e.f. 1-4-2007).
19. Subs. by Act 18 of 2005, s. 43, for “section 143” (w.e.f. 1-4-2006).
20. Ins. by Act 27 of 1999, s. 63 (w.e.f. 1-6-1999).
21. Subs. by Act 32 of 2003, s. 63 (w.e.f. 1-6-2003).
22. Subs. by Act 4 of 1988, s. 45, for sub-section (3) (w.e.f. 1-4-1989).
23. Ins. by Act 36 of 1989, s. 14 (w.e.f. 1-4-1989).