Can Self Assessment Tax Be Paid Monthly?

What are "advance tax" and "self assessment tax"? Why are these paid?

• Answer:

  Advance Tax is pay as u earn, on the basis of estimated income. A person whose tax liability is Rs. 10,000 or more is entitled for the payment of Tax in advance, be salary person, business entity or a firm/company. If an Individual (salaried or business/profession) is likely to pay advance tax in three installment (15th sept.15th dec,15th march)of every financial year , A corporate Assessee i.e. company firm is liable of paying advance tax in four installments (15th June,15th sept, 15th dec, 15th march). If a individual entity is getting any TDS then after deducting TDS if tax liability is Rs. 5000/- or more Advance Tax is being paid. The percentage of the Tax deposited in three inst. is 30%,60% & 100 of the Tax payable.and in four inst. is 15%, 45%, 75% & 100% of the adv.Tax payable. Self Assessment Tax is Tax paid at the time of Assessing Total Taxable Income for that Financial year preceding the assessment year on the actual taxable income computed after taking benefit of the deduction u/s 80. its neither paid in installment nor any %. whatever Tax liablility arise its considered for Self assessment Tax. Hope it would sufficient.