In case you discover that the deducted TDS (say 100 Rs) do not add the tax liability (say 200 Rs), then you can go ahead and pay the additional tax amount 100 Rs ie (200-100) by doing the following ,.
To do this you need to use Challan 280.
Within Challan 280, select
(0021) – Income tax (other than companies) – Because you are an individual.
Within Challan 280 after selecting the code 0021 (Income Tax that are not companies) since you are a private individual and not a company, there are 3 options to select the type of tax to pay
Advance tax (Code 200)
Self-assessment tax (Code 300)
Tax on the regular evaluation (Code 400)
Select the self-assessment tax code (300) for the self-assessed additional tax payment …….
Let's understand this with an example, let's say that the tax liability for an applicant is 200 rupees and he discovers that the tax deducted at the source is 100 rupees, he needs to pay these extra 100 rupees as income tax,
Here it is important to bear in mind that these 100 R include the income tax and the education percentage @ 0.03%.
So, divide 100 by 1.03 to get the income tax figure 97.03 (Round of 97) and balance 3 Rs, that is, (100-97) will be education,
The applicant must complete Challan 280 (while selecting the code 300-tax in self-assessment (it is so called because the applicant has evaluated itself that it has additional taxes to pay the tax debt) to pay this tax,
In this tutorial, we see how to understand this simple concept in a practical way. Please check my Facebook page www.facebook.com/filingreturnsonline where I keep adding more things and where you'll find everything I've created so far.
Video credits to Make Knowledge Free YouTube channel