SELF-ASSESSMENT

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..... calculates and declares his tax liability in the returns filed and pays his tax liability at the time of filing the return. This is done on a monthly, quarterly or annual basis, depending on the turnover of the taxpayer. 5.2 Self-Assessment does not confer authority of an assessing officer on the taxpayer. A taxpayer is required to exercise this liberty to assess tax liability voluntarily with th .....

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