How to file and pay income tax for ITR2 in India? What is the order?

Question

I have following incomes

• Salary
• Interest income from fixed deposits
• Short term capital gains from sale of equity stocks
• Long term capital gains from sale of debt mutual fund

Searching for it leads me to file ITR-2 but I don't see any details about payment. I mean from which bank account the income tax will be paid. Then I searched about it and found Challan 280. That challan has type of payment like self assessment tax, advanced tax etc. I can't find which type to select for my case. Even when I do search about income tax return I mostly find the result catering to filing not payment.

So I want to know what exact steps I need to follow. I know how to fill the ITR-2 excel sheet and generate XML to upload it. But I am still not getting the payment part. Also if I do payment by Challan do I need to mention that in ITR-2 excel? What will be the order, do I need to pay first and then upload the return file or inverse of it?

Answer 1

If you know the taxes to be paid, first pay and then enter the details in ITR2 and submit.

So essentially;

1. Complete ITR2 with all the details. It should show you the taxes still pending.
2. Pay taxes online. The link is correct. You are paying self assessment tax. Note all the details, BSR , challan etc.
3. Enter these details into ITR2, it should now show zero tax due.
4. Generate the XML and upload.
5. Either e-verify, or post hard copy of ITRV